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Being an entrepreneur in Austria
Start up your own business◦ Realize your dreams!
Take over an enterprise◦ In Austria many people take over an enterprise
either from their parents or they buy one.
Franchising
◦ Many people make use of a well-known established enterprise concept, for example Mc Donald’s.
◦ For this concept they have to pay charges.
How you can become an entrepreneur in Austria?
2
◦ Individual enterprise
◦ General partnership
◦ Limited partnership
◦ Limited liability company
◦ Stock company
For founding an enterprise you need:◦ Certificate of competence◦ Trade license◦ Further requirements ...
Legal status
3
What is a business plan?◦ Written company concept◦ Forecast for future development
Why a business plan?◦ Explain concept to potential investors◦ Guide for those involved
Content of business plan◦ Vision◦ Management summary◦ Description of business case (manufacturing vs.
services)◦ Financing (how to get money)◦ Marketing
Business Plan
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Capital requirements◦ Assets: building, machinery◦ Working capital: goods or materials
Foundation costs◦ Costs for the preparation of a partnership
agreement and for registration in the Commercial Register
◦ Following costs depend on the kind of enterprise (e.g. automotive-industries vs. consultancy): Piece of land Office building and facilites Vehicles Others
Financing
5
Before foundation◦ Analysis of demand, competition, distribution
channels and market environment
◦ Market analysis
Opportunities and threats
Marketing-Mix◦ 4 P’s – Product, Price, Promotion, Place
◦ Marketing strategy decide about promotion and financing
Choice of location◦ find fitting location for goods/services offered
Market
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Self-confidence Readiness to take risks Communication skills Motivation Fantasy Endurance Good education
Personal requirements
Job satisfaction Implementation of own ideas Freedom of decision Independence New challenges
Disadvantages
Security of a well-paid job Responsibility for success
and failure
Qualifications Advantages
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