Subscribe
Sign in
If you could change one law in your country to make life easier for entrepreneurs, what would it be?
Let's complain about our government. (OK, jokes aside.)
Speaking about my country (🇸🇰 Slovakia):
• I would abolish the obligation to register a company before someone starts doing business and figure out whether it’s worth it.
(In the USA, they have a better system because people can start invoicing before officially registering their company.)
This would solve many issues here. For example, even if we were at a loss during the first few years, we wouldn’t have to pay taxes (yes, currently we have to pay taxes even when we are in red). ðŸ«
How is it in your country and what would you change?
14
Replies
Best
Elena Oprea
Launching soon!
I would bring the SEIS/EIS law from the UK to my country, Moldova.
I founded my company in the UK, where the government facilitates the fundraising process by offering investors tax benefits if they invest in early-stage companies. For example, under the SEIS tax scheme, investors can deduct 50% of their investment from their tax bill. If someone needs to pay 100K in taxes but invests 150K in my SEIS-approved company, they can deduct 75K from their tax bill.
It’s a great incentive for angel investors and makes the UK an excellent startup ecosystem.
Report
Share
It sounds like a good model for supporting. We have only something like "not paying the social and health insurance in the first year" but then instalments are at minimum 100 euros + 230 euros at minimum/monthly @elena_opreag
100+ euros for health insurance
230+ euros for social care
speaking per person. It is probably only one benefit for us to not pay it for the first year of running the business.
Launching soon!
@busmark_w_nika I suppose for startup founders may not be enough, what do they say about this?
@elena_opreag Well, our country is not very pro-startup-oriented. So you can imagine how poor the entrepreneurial environment is.
Launching soon!
@busmark_w_nika I see! I hope it gets better with the AI revolution!
Unfortunately, changing just one law wouldn't be enough to make life easier for entrepreneurs.
There are so many different requirements and obligations that, sometimes, are duplicating the taxes that we need to pay (one obvious example is related to cars, fuel and mobility).
Most countries in EU are not sovereign anymore in terms of laws and regulations and they are just "sheeps" following the directives that comes from the "wolves" in charge (that were not elected by the people!) to receive large amount of funds (debt!) to distribute among friends that own the big companies, that are paying their local elections and will give politicians the high paying "jobs" after they left the governments.
Imho, what we need to change is centralization and move towards a real decentralized world.
Web3 may be a utopian dream, but at least it offers hope for a more transparent and equitable world.
@terabitcoins Centralisation – a few days ago was listening one video cast and this was mentioned too. While US is considering to create strategic reserve for BTC, in Europe, we can only rely on ECB (countries of Eurozone). Lucky the Czech Republic that still has their own currency and quite non-dependant central bank.
@elugens I have always thought that in the US it is easier with the registration. But I think their taxes are insane – almost 50%?
I'd love to see a streamlined process for registering and licensing new businesses. In the US, the requirements vary a lot by state and industry, which adds complexity. A federal 'startup visa' program to attract international entrepreneurs would be great too. Anything to reduce red tape and foster innovation!
In Germany, unfortunately, there are many laws that make life for entrepreneurs complicated and problematic. You can’t even list them all. From registering a business (with the requirement for a fairly large initial capital), to taxes and reporting, and even the relationships with employees (where the government also actively intervenes).
I would like the tax office to calculate how much tax I need to pay. Now it works like this
- my accountant calculates taxes
- I pay taxes
- then the tax office checks whether the taxes were calculated correctly and whether they were paid, and if there was some error in the calculations, then it fines.
It would be ideal if the tax office itself said the amount of taxes.😂
One important change could be simplifying background verification processes for business owners. Entrepreneurs often face hurdles due to outdated record-keeping systems. Ensuring easy access to https://mo-arrests.org can help individuals clear discrepancies and focus on their ventures without unnecessary delays. Modernizing such policies would create a more business-friendly environment while maintaining legal transparency.
I totally agree with you! It would definitely help entrepreneurs to focus on their business without the stress of dealing with registration procedures upfront. In some regions, the business environment could be more flexible, allowing people to test the waters before fully committing. One way to boost businesses is through services like SEO for Small Businesses, which can help new ventures improve their online visibility.