When starting your own business, your attention naturally goes to customers, services and opportunities. Yet a few early financial choices can shape how smoothly your first year goes. Preparing the right questions for an accountant helps prevent surprises.
This checklist is for preparation, not a substitute for advice tailored to your circumstances. Your choice of legal structure affects liabilities, administration and taxation.
1. What exactly will your business do?
Describe the products or services you will offer, your target customers and how you expect to earn income. These details help identify the administrative, tax and other rules relevant to your activity.
2. Would a sole proprietorship or a company suit you better?
The choice is not determined by tax rates alone. Consider liability, expected earnings, investments, administration and future partners. In Belgium, creating certain forms of company, including a BV/SRL, also involves legal requirements for a financial plan. Discuss these before incorporation.
3. What will your start-up and recurring costs be?
Prepare a list covering equipment, software, insurance, rent, marketing and other spending. Include subscriptions and other ongoing commitments. A realistic budget also helps you review pricing and expected margins.
4. How much financial reserve will you need?
Customers may take time to pay, while expenses continue. Compare expected receipts with the dates on which invoices, taxes and other obligations fall due. This highlights how long your business can cover costs without immediate new income.
5. Which administrative tasks will you handle yourself?
You may not need to outsource every task, but responsibilities should be clear. Agree how invoices, receipts, bank details and reports are handled and which secure digital tools are appropriate.
6. Which tax and registration obligations apply?
Depending on your activities and legal structure, you may face business registration, VAT duties, tax returns, insurance or permits. Your accountant can help identify the applicable requirements and clarify who handles each step.
7. When will you review your financial figures?
Your bookkeeping is most useful when you review it regularly. Consider which measures matter to you: sales, costs, outstanding invoices, margins or cash flow. Decide when and how you will look at them together.
What should you bring to the first meeting?
A short description of your planned activity, revenue and cost estimates, anticipated investments and your key questions are a helpful start. Share confidential information only through an agreed secure channel.
Ready to discuss your business?
Verheyen Accountants helps entrepreneurs in Reet (Rumst) understand the financial preparation of a business launch. Explore our start-up support or get in touch.
Further information: VLAIO’s guidance on starting a business and official guidance on forming a Belgian company. Rules depend on the legal structure and your specific situation.