Présentation financière

Financial Accounting

How to setup a company

This business idea focuses on creating an online platform where consumers can purchase ecological, sustainable, and environmentally-friendly products. The growing trend towards a sustainable lifestyle has created a demand for responsible shopping options.

Online store

We created this company both in UK and in France to understand the differences

' To make you better understand we are going to create one together '

In UK

The right legal structure for your company will depend on your business goals

Legal Structure

Youssef Brahimi -Old student of LSE

"For an online store dealing with sustainable products, a popular legal structure is a private limited company (Ltd). It provides a separate legal identity, limited liability, and is seen as more trustworthy by customers. Registering with Companies House is a straightforward process. You can do it online, and it's essential for establishing your business as a legal entity."

Interview time

Can you provide some advice on the most suitable legal structure for such a business in the UK?

Companies House is the official government register of companies in the United Kingdom.

The registration with Companies House

Opening a Business Bank Account

(if applicable)

Register for a VAT Number

(if hiring people)

Set Up Payroll

Depending on your business type, you might need specific licenses or permits.

Obtain Necessary Licenses and Permits

In France

For our online shop we choose the SARL, for the same reason as in the UK

Legal Structure

When referring to a self-employed legal structure, it often means an individual working as a sole proprietor.

It is a type of business entity in France. The SAS is a popular choice for entrepreneurs due to its flexibility and adaptability to various business needs.

It is a common business structure used in France and other French-speaking countries. The SARL provides a legal framework for a business with limited liability for its owners, known as "associés" or shareholders.

autoentrepreneur

Self-employed

Simplified Joint-Stock Company

SAS

Limited Liability Company

SARL

You need to choose among the common legal structures:

Founder & CEO of Onest Store

Lilia

Interview time

How did you legally established your company ?

It is mandatory to register to the CFE, it centralizes administrative procedures and ensures compliance with regulatory requirements . It’s a one-stop-shop for business registration.

Register with the Centre de Formalités des Entreprises (CFE)

A SIRET number is a unique 14-digit identifier assigned to businesses in France, helping to identify each one separately and making it official and recognized by the authorities for administrative purposes.

After the registration with the CFE, you obtain a SIRET Number

Same as in the UK

Opening a Business Bank Account

(same as in the uk )

Register for a VAT Number

As an employer, you'll need to register your employees for social security and healthcare contributions.

Set Up Social Security and Healthcare Contributions

Depending on your business activities, you may need specific licenses or permits.

Obtain Necessary Licenses and Permits

Founder & CEO of Onest Store

Lilia

Interview time

Depending on your business activities, you may need specific licenses or permits, how did you manage to get those ?

Familiarize yourself with French employment laws if you plan to hire employees, such as working hours and Overtime, paid leaves (congés payés), employee representation.

Understand Employment Laws

Legal Compliance

Taxation

Seek Professional Advice

Language Considerations

Delivery and Logistics

Marketing and Awareness

Considerations for Both Countries

Lan -Medecin Auto-entrepreneur

"Je payes une texe sur les revenus d'auto-entrepreneur que je declares tout les 3 mois à l'URSSAF. On me prélève environ 22,5 % de mes revenus. Je suis donc prélevé par l'URSSAF 4 fois par an. Ces taxes sont uniquement perçu sur mes expertises qui sont une activité annexe à mon métier de chirurgien. Cependant je déclare en plus annuellement tous mes revenus d'expertise aux impôts qui me taxent aussi sur cette somme.Je ne paye pas la TVA sur mes revenus d'auto-entrepreneur car je déclare moins de 34400€ par an ( c'est le plafond fixé par le gouvernement) "

Interview time

Comment fonctionnent les taxes pour un auto entrepreneur ?

By Amine, Raphaelle, Noé and Anna

Thank you for your attention

• Understand the tax obligations in each country and consider seeking professional advice.
• Entrepreneurs in France and the UK must be aware of Corporate Income Tax (CIT), Value Added Tax (VAT), and Social contributions. CIT rates vary based on company size and turnover, while VAT is mandatory and businesses must register. Social contributions impact labor costs, and employers must contribute to social security funds.
• In the UK, National Insurance Contributions (NICs) are crucial as both employers and employees contribute to the social security system, affecting labor costs.

Taxation

• Be aware of language differences and consider translation services for documentation.
• To ensure clear communication in France and the UK, it's essential to use French as the official language and engage professional translation services for accurate and culturally sensitive content.
• In the UK, English is the primary language, but regional dialects may vary. Both countries should ensure business communications and documentation are comprehensible and addressed for diverse audiences.

Language Consideration

• Ensure compliance with labor laws, data protection regulations, and other legal requirements.
• In France, follow labor laws by maintaining updated contracts, adhering to working hours, and seeking legal counsel.
• In the UK, register with the CNIL, ensure GDPR compliance, and obtain explicit consent for data protection. Collaborate with local legal experts for business registration, permits, and industry-specific regulations. Stay informed about legal updates and stay vigilant for evolving legal landscapes.
• Both countries require updated contracts, working hours, GDPR compliance, and regular review of data processing procedures.

Legal Complience

• Consult with local accountants, legal advisors, or business consultants to ensure compliance with local regulations.
• In France, work with local accountants and legal advisors to navigate complex tax structures and labor laws. Collaborate with business consultants to understand industry-specific regulations. Establish a local network for compliance with French regulations and UK regulations.
• In the UK, consult with local accountants and legal advisors to ensure adherence to employment laws and business regulations. Tailor strategies for the dynamic UK business landscape.

Seek Professional Advice

• Adapt your marketing strategy to effectively raise awareness of sustainable products in each culture.
• Ensure thorough research on market trends, consumer preferences, and specific regulations in each country to maximize the success of your online marketplace for sustainable products

Marketing and Awareness

Compare costs and delivery options, as well as logistic requirements in each country.