The essential business toolkit for EU entrepreneurs

Navigate EU business regulations with Your Europe 

If you are an EU citizen looking to start a new business within the European Union, you have come to the right place. This comprehensive guide covers all the necessary steps such as setting up your company, accessing funding and support programs, establishing an online presence, and complying with EU employment laws. As an entrepreneur, you will also find a list of resources and EU funding programs that can help you in starting as well as expanding your business in the EU.  

Opening a new business 

The Your Europe portal is a practical guide to doing business in the EU that can point you to the right links and resources.  

As an EU citizen, you have the right to set up a company in any EU country, as well as in Iceland, Lichtenstein, and Norway. Likewise, you can set up a subsidiary branch of your company if it is based in the EU. Rules may vary depending on the country so to make things simpler, the Your Europe portal provides the list of relevant national bodies with the information about starting a business.  

For additional information you can also refer to your relevant Point of Single Contact (PSC). PSCs are e-government portals that provide you with the necessary information to explore business opportunities or expand your services to another EU country. They will inform you of licences, notifications or permits needed to start a business and how to complete administrative procedures online.  

When starting a new business, it is likely that you may benefit from financial aid or a funding programme.

Finding the right funding  

Discovering the right financial support is crucial to the success of your business. Whether you're looking for grants, loans, venture capital, or crowdfunding opportunities, Your Europe provides concise guidance tailored to start-ups,  small and micro businesses, facilitating access to essential financial support. 

Start-ups 

Getting funding is an important step of you startup journey and Your Europe is here to help. Several  funding and support projects are in place: 

• Startup Europe strengthens networking opportunities between high tech startups, investors, the media and more. 

• Startup Europe Partnership is designed to help the best scaleups meet investors and corporates. 

• InvestEU Portal enables project promoters to boost the project visibility to a large network of international investors.  

To search for a funding opportunity in a specific EU country, you can use this interactive EU map that will help you apply for loans and venture capital supported by the European Union. 

EU funding programmes 

There are also active EU funding programmes, to which you can apply for depending on the nature of your business. You can apply for direct or indirect funding, grants, or contracts.  

Direct funding 

Direct funding is managed by the European Commission on the Funding and Tenders portal or the European Institute of Innovation & Technology website. 

Grants 

Grants are given to specific projects that relate to EU policies, usually following a call for proposals. 

Contracts 

Contracts are issued by EU institutions to buy services, goods or works that they need for their operations. These include studies, training, conference organisation, IT equipment, and more. 

Indirect funding 

Indirect funding is managed by national and regional authorities, through the European Structural and Investment Funds or the Recovery and Resilience Facility..  

 Unpacking VAT 

Understanding Value Added Tax (VAT) regulations is important for businesses operating within the EU, and the Your Europe portal offers a wealth of information to aid in this endeavour. 

Providing a comprehensive introduction to VAT, Your Europe covers essential topics such as VAT rates, registration requirements, and invoicing guidelines. Business engaged in cross-border transactions can benefit from detailed insights into cross-border VAT rules, ensuring compliance with international VAT regulations.  

Business can also facilitate the verification of VAT numbers through the VAT Information Exchange System (VIES), enabling them to authenticate the VAT registration of their trading partners across EU member states.  

Additionally, businesses seeking VAT refunds for eligible transactions can access guidance on the VAT refund process, streamlining administrative procedures and maximizing financial efficiency. 

Going digital 

Once you have opened your business and resolved questions regarding VAT, it is time to set up your business website or an online shop! Your Europe gives practical advice on using technology to connect with your customers and provide transparent and user-friendly experience. There you will find topics on setting up online stores, using digital tools for invoicing and payments, and promoting products online. It also offers tips on keeping data safe and secure.  

Securing your website 

There is some essential information that you are legally obliged to provide to your customers on your website. This includes: your identity, your physical and email addresses and telephone number, general terms and conditions, privacy policy and more.  

It is also important to ensure safeguarding customer data through secure encryption and through obtaining explicit consent for data processing. Your Europe portal provides information on how to successfully navigate data protection regulations, such as the General Data Protection Regulation (GDPR).  

By following the advice provided, businesses can establish a professional website while prioritizing the privacy and security of their customers' information. 

Providing good UX 

Your digital presentation is very important, as online users tend to judge a business credibility based on the design of its website. It emphasizes the importance of e-accessibility for people with disabilities and offers resources from the World Wide Web Consortium (W3C) to ensure compliance with accessibility regulations. Businesses can display an icon to indicate conformity with these standards.  

Better usability increases search engine rankings, the number and quality of visits, and can lead to a better conversion rate, which can include the number of people who purchase something once they visit your website.  

Some of the main elements of web usability are responsiveness across devices, quick loading times, clear navigation menus, prominent contact information, and user-friendly features like breadcrumbs.  

The European Commission has established a set of usability tests to aid you in improving your website.   

Hiring in the EU 

Now that your business is set up and running, it may be time to expand and hire new staff. Your Europe is the go-to resource for understanding employment contracts, breaking down the basics, explaining different contract types like permanent, fixed-term, and temporary agency work contracts.  

If you’re unsure what should be included in the contracts to meet the legal requirements, we’re here to help. When you hire staff you should provide them with terms of employment in writing. For annual holidays, length of notice periods, working time and remuneration, you can refer your employees to any relevant national/regional laws by consulting Your Europe easy-to-use search engine. 

Easily clarify the rights and duties of both employers and employees under European employment law. Learn about minimum wage rules, working time limits, redundancies, and safety regulations, helping you create a fair and compliant work environment. 

Practical guide to doing business in the EU 

Navigating the complexities of starting and running a business in the EU can be challenging, but with the comprehensive resources provided by Your Europe, entrepreneurs have easy access to invaluable guidance every step of the way. From setting up your company and securing funding to understanding VAT regulations, embracing digitalization, and hiring employees, this platform offers you practical insights tailored to the needs of EU citizens venturing into entrepreneurship.