Steps to create a company

Steps to create a company in Colombia

Posted on 06/08/2020

If you are starting your business, it is important that you follow these steps to make it a solid business project.
 

According to the Bogotá Chamber of Commerce (CCB), to structure a company you must comply with 4 steps:
 

1. Define the reasons to start a business
 

Identify if you do it for an opportunity, need, unemployment, life plan, among others. The motivation you have will be the key to success.
 

2. Find an idea associated with your goals, knowledge or ideals
 

In this case you can ask yourself the following questions: does that idea solve an unmet need? Does that idea already exist? What is the product or service? Do you manufacture or market it?
 

You should also analyze some market opportunities for your idea: who will be the customers? How to reach them? What is the differential value of the product compared to those already in the market?
 

Find an ideal business for you
 

3. Establish the necessary resources and analyze the competition
 

It is important to define the resources you need and analyze your competition, the market potential, the skills you need and the value proposition of your business model.
 

4. Implement your business model
 

Take into account the value proposition that you will offer to your clients.
 

After these steps, it is important that you choose the way in which you will register your company, remember that it can be as a natural or legal person.
 

The difference lies in the fact that the natural person, "is one who carries out this activity regularly and professionally in a personal capacity and assumes all the rights and obligations of the commercial activity that he exercises," says the CCB.
 

While, the legal person "is a fictitious person, capable of exercising rights and contracting obligations, and of being represented judicially and extrajudicially," explains the CCB. For this case, there are several classifications: Limited Company, Unipersonal Company, Public Limited Company, Collective Society, Simple Limited Company, Limited Joint Stock Company and Associative Work Company.
 

Read: What kind of company do you want to have?

 

 

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