Money matters for starters

Starting a business means making choices. Money choices, too. Which insurances do you need? What hourly rate will you set? And do you need a company car? All the main money matters collected on one page.

Hourly rate

The hourly rate you charge your customer shows how much you are worth. But it also depends on the market. Look at your competitors' prices, and calculate how much money you want to make after deduction of costs and taxes. Make an estimate of your billable hours. This is how you determine your hourly rate

Financial plan

In your financial plan, you list all your finances. The plan consists of 4 business budgets and 1 private budget. Budget help you to keep control of the money in your business. You calculate how much you invest in your business. And how to finance it. You can use your own money, get credit from a bank or find an alternative financier. Draw up a financial plan.


The bill you send to your client is your invoice. Your invoice has to contain certain details, for example the invoice number and your VAT-ID number. Read how to write an invoice and when to send it. Remember to keep invoices in your business records for at least 7 years.


Take out insurances for the risks you cannot cover yourself. Think about a business or professional liability insurance. Or a business legal assistance insurance. If you fall ill, you will not receive a benefit. Consider an occupational disability insurance or join a donation circle. Find out which insurances are mandatory and which are voluntary. 

Business bank account

Do you mix your private and business income and expenses? Or do you choose a business bank account? It will help you save time keeping records. You can connect your online accounting application to your bank account. Also, a business bank account comes across as more professional. Make the right choice for you.

Online accounting

Online accounting solutions offer speed, user convenience, and insight. You and your bookkeepper or accountant can work together in the cloud. It makes conferring and dividing tasks easier. This is what you should consider when choosing an online accounting application.

Company car

If you drive a company car, you can deduct the costs for maintenance and motor vehicle tax from your profit. But if you use it privately for over 500 kilometres, this counts as additional income. If you use your private car for business purposes, you can deduct 23 cents per business kilometre. Read more about the differences between a company or privately owned car

Small businesses scheme KOR

The Small Businesses Scheme KOR is for entrepreneurs with less than 20,000 euros in annual turnover. If you choose to use the KOR for 3 years, you do not charge your customers VAT. Nor can you reclaim VAT you paid. And you do not file a VAT return. Read more about the pros and cons of the KOR.