The choice of the legal form most suited to your economic activity is essential. You can even get help in this choice by a specialist in the field. This is how important it is. If you are a job seeker and just getting started in starting your own business, you can request a free consultation with an expert.

Sole proprietorship

This status concerns sole entrepreneurs to whom no capital contribution, structural costs or start-up capital is responsible. Only an application for registration as a natural person is necessary. One of the major drawbacks with this status is that it does not relieve you of financial responsibility for your assets. In other words, in the event of a problem, your personal property is engaged.

Sole Proprietorship with Limited Liability

Starting capital is to be provided with this status. The minimum amount is 1 euro. In addition to registration in the trade and companies register, you will need to declare the articles of association at the tax office and publish an advertisement in an appropriate legal journal. The annual accounts must be sent to the clerk of the commercial court. If a problem arises, the liability incurred is limited to the amount of the capital. This legal form therefore presents fewer risks. Make a visit to www.taxfyle.com/blog/turbotax-alternatives for easy solutions.

Limited Liability Company

This legal form implies a company project with several actors. At least two people are needed for such a business project. As with a EURL, financial liability is limited to the amount of capital. The documents for the creation of such a company are similar to those of an EURL: it is indeed necessary to provide the annual accounts to the commercial court, minutes and deliberations of the partners must be drawn up. We define remuneration brackets according to the statutes (manager, partner, employee, etc.). If other than financial assets are contributed by someone, this requires the intervention of a contribution auditor.

Sole Proprietorship with Limited Liability

In this legal form, we confuse private and professional heritage. Your private property can be seized in the event of bankruptcy. An advantage of this status is limited liability: by establishing a list of the goods necessary for the operation of the activity, the entrepreneur protects himself in the event of a problem because the creditors will not be able to demand more than these goods, it is that is to say that they will not be able to demand a part of your private assets not mentioned on this list. However, this status implies additional obligations the delivery of annual accounts and the list of professional assets.

What are the possible aids?

Seeking help with these first choices can be very helpful. Many independents have little money, not more than the minimum wage in many cases. However, it is possible to obtain financial aid and other tax deductions. Job seekers affected by unemployment can obtain Aid for Unemployed Creators or Business Owners (ACCRE). This aid is valid for a minimum period of six months. In addition, the unemployed can also benefit from expert help, free of charge.