Do you want to start your own business but do not know where to begin?

Do you have a business idea you want to bring to life?

Are you thinking of opening a shop, offering your own services, setting up a company or starting a new professional activity?

But perhaps many questions are on your mind:

• How much money do I need to get started?
• Should I set up a sole proprietorship or a company?
• Which legal form is best for me in terms of tax and social security?
• How much will running the business cost me every month?
• How much turnover do I need to cover my costs and make a profit?
• Do I need an operating licence or some special approval?
• Can I fund my investment through ESPA, LEADER or another programme?
• And what if the business does not go as I planned?

You do not need to know all the answers before you start. But you do need to make the right decisions before you commit your money.

At EPITEFXI – CHRONAKIS DIMITRIOS we start from your business idea, examine its real potential and guide you from the initial planning through to setting up and organising your business.

We do not simply start your business. We help you build the foundations for a financially viable and profitable activity.

1. You have a business idea. But is it worth investing in?

You may have spotted a professional opportunity, or you may have been thinking for some time about creating your own business.

But before you rent business premises, buy equipment or take on other financial commitments, we need to examine whether your idea can work in practice.

Together with you we examine:

• Which products or services you want to offer.
• Which customers you are targeting.
• What the market and competition conditions are.
• How much money the initial investment requires.
• What the main operating costs will be.
• What sales or revenue are needed for sustainable operation.
• What funding options exist.

Where required, we prepare a business plan and a viability study.

Our aim is for you to know better what you are about to take on, before you invest time and money.

2. Sole proprietorship or company? Which option is right for you?

Choosing a legal form is not a simple formality.

It affects taxation, social security, liability for obligations, running costs and options for future growth.

You may be wondering:

“Should I start as a sole proprietor? Set up an IKE? Team up with someone and found a general or limited partnership?”

At EPITEFXI we examine your needs and goals and assess the available options.

We explain in plain terms the main differences between a sole proprietorship, general and limited partnerships, private companies, limited liability companies, public limited companies and other suitable forms.

We analyse the tax and social security implications, the financial obligations, the capital needs and the growth options.

We do not recommend a legal form because it is popular. We examine which one best suits your own case.

3. How much money will you really need to get started?

Many new entrepreneurs calculate the cost of equipment or fitting out the premises, but have not planned for the money they will need during the first months of operation.

Rent, utility bills, suppliers, payroll, social security contributions, taxes and everyday operating costs can create significant liquidity needs.

We help you calculate:

• The initial cost of installation and equipment.
• The costs of setting up and starting operations.
• The need for initial stock or raw materials.
• The expected staff costs.
• The fixed monthly operating costs.
• Tax and social security obligations.
• The working capital required.
• Possible needs for additional funding.

Because having the money to open a business is not enough. You also need to have planned how it will operate during its first months.

4. How much do you need to sell to make a real profit?

This is one of the most important questions before any new business activity.

How many customers will you need? How many sales must you make? How much will each product or service cost you?

And in the end, how much money will be left from running the business?

Based on the available data and financial assumptions, we prepare revenue and expense forecasts, cost analyses and profitability estimates.

Where feasible, we calculate the break-even point, that is, the level of activity at which expected revenue covers the corresponding costs.

We also examine different sales and cost scenarios, so that you understand how the financial results may be affected.

We want you to know not only what you need to sell, but also what needs to be left over as a real financial result.

5. Is there a subsidy or funding for the business you want to create?

Are you thinking of starting a business but do not have all the required capital?

There may be a grant programme or financial instrument that can support your business plan.

We examine the options available through ESPA, LEADER, the Development Law, DYPA, bank financing and other instruments.

We assess the eligibility conditions, the required own contributions, the eligible expenses and the commitments that each programme entails.

Especially important: In some programmes, starting the activity or incurring specific expenses before applying may affect eligibility.

That is why we examine the funding options early, before you take steps that could limit your options.

The right order of decisions can be just as important as the business idea itself.

6. What do you need to set up your business legally?

Once we have shaped the right framework, we proceed with the necessary set-up and start-up procedures.

Depending on your legal form and activity, we undertake or coordinate:

• The selection and declaration of the appropriate Activity Codes (KAD).
• The start-up procedures with AADE.
• The establishment of a company through the prescribed procedures.
• The required registrations and entries in GEMI.
• The organisation of social security obligations.
• The preparation of the necessary corporate and financial documents.
• Guidance on operating licences, notifications and special approvals.
• Coordination with engineers, lawyers, notaries and other competent professionals, where required.

Our aim is for you to know what needs to be done, in what order, and what obligations arise from the start of your activity.

7. You opened your business. And then what?

Setting up is only the beginning. The real challenge is the day-to-day operation and its financial course.

After start-up, a business needs sound pricing, accounting follow-up, tax organisation, management of obligations and reliable financial information.

At EPITEFXI we can continue our collaboration by taking on your accounting, tax and labour support.

In addition, if you choose ongoing financial and business advice, we follow the course of your revenue, expenses, liquidity and profitability.

We compare actual results with the targets of the business plan and examine the necessary adjustments.

We do not want to help you only open your business. We want to help you organise it, grow it and create the conditions for steady profitability.

8. You already have a business, but want to change the way it operates?

Our service is not addressed only to those starting for the first time.

You may already have a business up and running but need better financial organisation, a change of legal form, restructuring or a redesign of your activity.

We examine the current situation and assess the available options.

Depending on the case, we support you with corporate changes, financial reorganisation, changes in operations, viability studies and the design of a new business path.

Because a fresh start does not necessarily mean creating a new business. It may mean that the time has come to better organise the one you already have.

How do we start together?

First you tell us what you are thinking. You do not need to have a business plan ready.

1. We discuss your idea or need.

You explain what you want to create, what your goals are and which issues concern you.

2. We examine the financial and business potential.

We assess the available data, the capital needs, the main obligations and the possible funding options.

3. We plan the next steps.

We propose the right framework of services and, if we agree to work together, we organise the required actions.

4. We proceed with setting up and organising.

We take on the procedures within our remit and coordinate the necessary partners where required.

5. We can stay by your side after start-up.

With ongoing accounting, tax and advisory support, according to your business's needs.

Your business does not start with a filing at the Tax Office. It starts with a sound decision.

You may know exactly what you want to create. You may have only an idea and many questions.

You do not need to know all the procedures, the financial calculations or the legal form you will choose.

It is enough to tell us what you want to create.

At EPITEFXI – CHRONAKIS DIMITRIOS we will examine with you the options, the obligations and the steps needed to move forward with better information and sound planning.

Because the goal is not simply to own a business. It is to create a business that can operate, grow and make you a profit.