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Aspects of Starting a Business in Germany

Aspects of Starting a Business in Germany. May 2013. Going abroad , yes or no? will skills qualification experiences. 2. Requirements family finances training requirements legal requirements (notifiable transactions, trades) general requirements. 3.

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Aspects of Starting a Business in Germany

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  1. Aspects of Starting a Business in Germany May 2013

  2. Going abroad, yes or no? • will • skills • qualification • experiences 2

  3. Requirements • family • finances • training requirements • legal requirements (notifiable transactions, trades) • general requirements 3

  4. Founding or buying a company • benefits of corporate takeover • disadvantages • procedure 4

  5. Individuality or partnership • help yourself • or • togehter is better • ? 5

  6. German Market Conditions • Sectors: Germany excels in the production of automobiles, machinery, electrical equipment and chemicals. • SMEs: It is estimated that about 1500 German companies occupy a top three position in their respective market segment worldwide. In about two thirds of all industry sectors German companies belong to the top three competitors (wikipedia) 6

  7. Growth areas in the German Market /Hesse (1) • ICT sector in Hesse: the strongest technology sector • 9,466 ICT enterprises generated a turnover of 17.8 BEUR in 2009. • 76,300 employees, e. g. compared to the machinery (42,400 employees), chemistry (58,000 employees) or automotive sector (47,600 employees). 7

  8. Growth areas in the German Market /Hesse (2) • Hessen is one of the top locations in Europe for: • business software, network software and games development • telecommunication, international backbones and co- location • high-performance computing • application areas like banking, logistics and automotive industries • ICT consulting 8

  9. Growth areas in the German Market /Hesse (3) ICT industry in Hesse Source: Hessen-it 2011 9

  10. Policy decisions • subject of company • location • legal form • mission, vision, goals • form of financing 10

  11. Incubation activities • business plan • resource planning • investments • financing 11

  12. Pre-opening arrangements • register • product development • set of performance • set and train employee • advertising 12

  13. Management aspects • set goals • plan activities • organise • control / check 13

  14. and • start! 14

  15. Basis Instrument Goal Income for prototype development Project Acquisition Technology Selling scientific achievements (Short-term income orientation) Scientific Orientation vs. Sales Orientation

  16. Basis Instrument Goal Income for product sales Customer Acquisition Prototype Selling product achievements (Mid-term profit orientation) Technical Orientation vs. Sales Orientation

  17. Ten Common Pitfalls in Developing Growth Stategies Under-investment in the Core Business Pursuit of Value Destroying Diversification Failure to Respond to Industry Turbulence Implementation Failure • Poor Business Definition • Failure to Drive towards Leadership • Failure to Drive towards Potential • Adjacency Expansion at the Expense of the Core • Movement into Unrelated Businesses • Movement into Follower Positions • Failure to Achieve Scale • Failure to Respond to new Entrants • Failure to Redefine the Business • Failure to Address Organisational Inhibitors to Growth

  18. Purpose of the Business Plan • The Business Plan and the Financial Model set the framework for • Founding, financing, growing, and capitalising a technology spin-off and is therefore a key requirement • The founder‘s team as well as for their external stakeolders, e.g. investors, partners • It is also a living documentation of all relevant aspects of the company and ist evaluation and value-generation. The Business Plan is about Corporate Strategy ….. and about money!!! October 2011

  19. Technology Marketing • … is a key part of the busines plan and the financial plan • … has to be understood as Sales and Marketing which is the main „cash- in“ source Technology Marketing is about Corporate Strategy • ….. and about money!!!

  20. Thank you for your attention! 20

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