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Smooth switch from one-man business to company

Ondernemers | 30 January 2020 | Written by Burçin Alim

When Pieter De Rijcke founded ClearWater in July 2019, he opted for a one-man business. The reason? The sense of urgency. Because the agreements with suppliers, subcontractors and customers were already on the table.

Smooth switch from one-man business to company

But his father Stefaan is also part of ClearWater. That is where the problems already start: the intention is that he acts as a co-manager. And in the one-man business there is only room for one manager. That must therefore change.

One-man business arranged quickly

“I am passionate about the technical side of things and Pieter has a marketing and sales background. We joined forces in ClearWater. We sell and install water softeners and filters," says Stefaan. “From the start it was intended that we should run the business together. But because everything had to go fast, a one-man business was the easiest at the time.”

Company: best solution

“Our business got off to a flying start. So, we had a good income immediately. As a company you are taxed a lot less than a one-man business. The tax aspect therefore also played a role in our decision to make the switch. ”To enable a smooth transition from a one-man business to a company, Stefaan contacts Securex. “First we had an intensive conversation with coach Philippe. He then went into more detail about the analysis of our business model.” The conclusion of that analysis: a VOF is the best partnership solution for ClearWater. The legal department of Securex works out the articles of association in more detail and submits them to the Commercial Tribunal. Philippe also arranges the finances between father and son and all taxation issues.

A flawless course

“The transition to a company went very smoothly. But the coaching went further than that. During the conversation with Philippe it appeared that a good partnership agreement is also crucial. Because we depend on subcontractors for the placement of our products. A lawyer drafted a clear contract. He then took over the terms and conditions of sale and the maintenance contract. Now we have everything in order."

And now?

Stefaan and Pieter know what goal they want to achieve. Now they take a close look at the figures each quarter and evaluate them against their expectations. In the meantime, the website is up and running and they are starting a marketing campaign via social media. The orders are coming in smoothly and subcontractors present themselves spontaneously. “For us, the switch to a partnership was a logical step. Yet it is interesting for every entrepreneur to weigh things up. Thanks to Securex, I knew for sure that everything was processed correctly,” says Stefaan.

Do you also want to take the step to a company with your business? You are not alone. The Securex coaches help you with advice and action. So, contact us today!

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