Opening a business

Where to get information

Opening a business

You former boss recently fired you because he could not afford you anymore. In this situation it might be a good idea to open your own business, especially if you know what your former boss did to lose customers. Opening a business is nothing quickly done like going to the movies.

Opening a business requires only three things: Money. Money. Money. Because money makes the world go around… Na, I’m only joking. What you really need is an idea, perseverance, and money. The idea will come either from yourself or you will “purchase” one, so-called franchising. Perseverance is needed because you will have to do a lot of homework. You need to learn many things virtually nobody wants to tell you for free – especially not your competitors. You will try much and certainly many times fail. But where find for free that information you need to accomplish your homework. Maybe your competitor will not inform you but the German Federal Minister of Economy has put exactly all that into the internet. Written in English you will find all about business plans, liquidity forecasts, cash-flow, etc. etc. etc. on .

If you need cheap starting funds you can find first information at . But please expect everything else but that a bank is willing to give a foreigner a loan, especially a start-up loan, if they are even reluctant to sponsor new German businesses.

You personally are not opening a business but a friend from home is coming to Germany to open his business? Pass on this information to him and all of sudden you will not have an acquaintance anymore but a good friend.


This article has been provided by our partner Rechtsanwalt Alexander Baron von Engelhardt , legal expert for foreigners in Germany. For further information, go to  .

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