The guide to entrepreneurship

e d i u g e h T

p i h s r u e n e r p e r t to en

Produced and published by

The Foundation for Innovation in Valais

1 editorial Take on the challenge of running your own business !

“There is no single character type of an entrepreneur. But you need character to be one.” This quote from Peter Drucker is a good illustration of the challenge facing young entrepreneurs. The road to success is often fraught with pitfalls, but there are pleasant surprises and plenty of satisfaction for those who venture down it.

To be an entrepreneur is to be your own boss, with all the feeling of freedom and independence that this implies. It also means the possibility of constantly creating change and innovation within your field of activity.

Being an entrepreneur also means financial and social commitment.

The Ark, the Foundation for innovation in Valais, has, since its foundation in 2004, been offering its services to entrepreneurs – both newcomers and experienced players alike. By means of its Incubator, it provides a full range of services for innovative entrepreneurs operating in the technological fields.

The aim of this guide is to provide some practical advice in the area of entrepreneurship. And who knows ?

It may also convince you to embark on the demanding but exciting adventure that is entrepreneurship !

I hope you enjoy the guide.

Frédéric Bagnoud General Secretary of The Ark Foundation

3

u o y o d e r e W h t o g o ? want 3

Editorial by Frédéric Bagnoud

7

Introducing Arkolino

8

From my idea to my business : a market-oriented reflection

12

The business plan, a guide for my new business

14

The business model, or how to forecast my income

16

Which legal form should I choose for my business ?

18

RI, SA or Sàrl : advantages and drawbacks

22

Legally founding my business

28

Intellectual property - my right to my ideas !

32

The various compulsory social security contributions

35

36

Additional insurance for my business

“Don’t be afraid of your ideas !”

38

Employment contracts for my employees

40

Where and how to find funding

44

What taxes will be imposed on my business ?

46

How to draw up an invoice correctly

49

Getting my business known

54

Time management for an entrepreneur

57 The Ark Foundation 64 10 good reasons to create your start-up 66 3 questions for Gilles Florey 68 Sudoku

3 Hello !

My name is Arkolino . As you can see, I’m a real genie and a business genie-us. Unlike my twin brother Arkus (as seen on the cover), who dreams of establishing his business in Valais, I live in a lamp, as you’d expect a genie to do.

My main mission is to lead you through this entrepreneur’s guide, giving you a few hopefully useful tips along the way. As for Arkus, while he waits for the right time to establish his business, he has agreed to pose in the illustrations for this guide.

Do you have any questions, suggestions or even wishes you’d like granting ?

E-mail marketing@theark.ch My secretary will pass the message on to me in my lamp !

Happy reading, and I wish you every success in your business creation plans !

Arkolino

The guide to entrepreneurship | Introducing Arkolino |

7

3 From my idea to my business : a market-oriented reflection The creation of any business starts with the birth of an idea. Conversely, not all ideas necessarily lead to the birth of a business !

A plan to establish a business depends on the relevance of the original idea. As with all building projects, firm foundations are essential. The first stages of validating the business concept are vital, enabling the plan to be well-anchored in its environment for the long term.

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| The guide to entrepreneurship | From my idea to my business : a market-oriented reflection

3 Validating the underlying idea Unfortunately, this reflection phase is all too often neglected by new entrepreneurs, who rush headlong into the operation of creating their business. However, it is essential to spend some time validating the idea before making a personal and financial commitment to a business creation project.

This structured reflection and the issues it raises are ideally covered by coaching sessions, especially those offered by a Business Incubator such as the one at The Ark Foundation in Valais. This will enable you to stay the course, however difficult it gets, that leads from the idea to the business.

Knowing your market The inventor or the project developer are often able to see nothing but good in their idea. Unfortunately, their reflections and analysis are essentially based on hypotheses that are too personal, without taking sufficient account of a crucial element - the market.

All too often project developers have not validated the foundations on which their initial hypotheses rest, and in particular have not analysed in depth the market they are aiming for. First and foremost it is essential to envisage and to know the typical customers for future products or services. Project developers should become “inquisitors” in order to familiarise themselves with all the details of their target market - its size, its potential, its buying habits, its terms of reference, its choice criteria, etc. In order to do this they need to leave the office, get out there and confront their ideas and typical customers head-on.

This phase of validating their idea in the context of the market is crucial. It is painstaking, timeconsuming work, but indispensable. The important

issue is to be able to answer two essential questions : >> Does my envisaged product or service satisfy an actual need ? >> Is there a market with sufficient demand for making a business from it ?

This reflection and validation work should take precedence when launching any project. This phase involving the preliminary study of the market may be greatly facilitated and accelerated with external support, centred on the pragmatic contributions of market intelligence and information networks.

This is most often undertaken in the form of a preliminary qualitative investigation in the field, without a particularly exhaustive statistical base ; simply sounding out the situation to get an idea of, a feel for, the market. Business creation professionals help people to ask the right questions quickly, to test out the ideas and to validate the business concept in the light of the needs observed in the target market.

The guide to entrepreneurship | From my idea to my business : a market-oriented reflection |

9

3 An idea with added value !

All business presupposes that the envisaged product or service responds to a specific need in the market. This product or service must offer consumers added value - added value that can

If, right from the first stage, the needs, organisation and habits of the market have been perfectly understood and analysed, it will be easy to determine a market offering. This market offering

be commercially developed and sold to future customers. Having defined the expectations and needs of the market, many project developers will need to redefine their initial idea and adapt what they are offering. Often, only the basic concept underlying the original idea will remain - it will have evolved as it is transformed into an actual product or service.

This transformation of the idea is actually nothing other than the definition of the market offering. This should be a specific translation of the expectations of the market into a product or service.

can thus be summarised in three questions, or rather the response to these three questions : >> What am I going to sell ? >> To whom ? >> At what price ?

It will include a definition of the proposed product or service, highlighting the added value aimed for, the target client base and a monetary value.

A long and winding road !

Finally, nothing will be gained by rushing headlong into the stages of the technical development of a product, or the packaging of a commercial range, without detailed knowledge of the market, its habits and its real needs. Only by responding to a specific need can an item be developed commercially to become the object of a business. The journey from an idea to a business is sometimes a long, winding, difficult road, but it is essential to pass through these phases of reflection and understanding the market before launching into the adventure of entrepreneurship.

10

Gaining better understanding of your future customers in order to respond more effectively to their expectations, and establishing your business on sound foundations to ready it for the long term - these are the ambitions of the creators of new businesses.

| The guide to entrepreneurship | From my idea to my business : a market-oriented reflection

4 The business plan, a guide for my new business This document sets out formally, in writing, the business plan for your enterprise, and its projected development over time. It is necessary for all new businesses, because... >> It is a plan that sets out the entrepreneurial objectives. >> It encourages reflection, enabling you on the one hand to assess the feasibility of the project and on the other hand to establish certain management indicators (internal use). >> It is a communication tool for external use. It enables you to present and communicate your intentions and ambitions as a business to potential partners - investors and other partners such as distributors, suppliers, etc. >> It forces the creator of the business and their team to present their objectives clearly, and therefore to subject them to systematic examination. >> It ensures that the founder does not rush headlong, without reflection, into the world of entrepreneurship.

►► A business plan is based on facts, hypotheses

and estimates ; it is therefore important to distinguish the estimated figures and scenarios from the facts.

►► As a general rule, 20 to 40 pages, with appendices, should be sufficient for a business plan.

►► When drawing up a business plan, consider presenting

several

realistic, pessimistic).

12

scenarios

(optimistic,

| The guide to entrepreneurship | The business plan, a guide for my new business

4 The structure of a business plan A business plan should deal with the following subject areas : >> Overview : the business idea ; future prospects ; strategy ; management ; products ; market ; financial planning ; opportunities and risks ; any opportunities for investment ;

>> Markets : outlets (potential and growth) ; structure and segmentation of the client base ; the forecast volume of sales ; analysis of the competition and the market ;

>> The business : the history of the project ; legal form ; structure and amount of capital ; managerial and operational team ; management auditing ; advisers ;

>> Finance : a summary of the key figures : turnover, need for investment, return on investment, etc. (include detailed figures in appendices) ;

>> Management and staff : an organisation chart showing the whole team ; responsibilities ; training and management experience of the key staff ; staff planning and promotion structure ;

>> Marketing : description of the general strategy, followed by details of the target markets and customer groups, public relations, publicity, sales, distribution, range, products, services and pricing ;

>> Products and services : a detailed description of the products and services and their benefits for the client base ; a life cycle analysis ; subsequent development and innovation.

Also zoom in on stock management and production capacities. Information on patents and trade mark protection ;

>> Schedule : time periods ; staged objectives ;

>> Appendices : extract from the debt collection register ; projected balance sheet and profit and loss account, cash flow plan ; copies of credit and loan contracts ; guarantees, deposit account statements ; property valuations. If available : market studies, reference letters and attestations of employment ; company brochures.

The guide to entrepreneurship | The business plan, a guide for my new business |

13

5 The business model, or how to forecast my income The business model is a global representation of the way in which a business project will generate income. The business plan follows on from the business model. The latter should provide answers to the three main questions below : >> How will you earn money from your idea ?

The business model should show, in simplified form, information in the following subject areas : >> Value propositions >> Target customer sectors >> Distribution channels

>> Who will pay ?

>> Customer relations

>> For what ?

>> A network of partners to create these value propositions

It is important to approach the creation of a business supported by the logic of a business model. As an entrepreneur, once you have had your idea you should quickly identify the potential sources of income.

>> Activities to be undertaken in order to supply your product/service >> Cost structure >> Income model

At this stage it is not a matter of being original whatever the cost. Others may already have trodden similar paths, and it is not always necessary to reinvent the wheel. The easier it is for those you approach (especially your investors !) to understand your business model, the better. On the other hand, if it is innovative you will have to explain it, bridging the gap with business models that are already recognised and approved. It is also important to get an idea of how your offering will be received in the marketplace. It is therefore a matter of being open and able to adapt rapidly to feedback from the market in order to adjust your business model.

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| The guide to entrepreneurship | The business model, or how to forecast my income

5 How does the concept of a business model differ from that of a business plan ?

“In a way, the business model explains the global logic of the business. It explains what the business is creating of value (the proposition), how it does this and for whom, and how it intends to earn money. The business plan is rather an explanation of how the business model will be implemented and the management team that will do this. First of all, a good business model is needed before drafting a business plan that will detail and develop the plans for implementation, the milestones, the financial forecasts and the potential risks.”

Alexander Osterwalder, co-author of “Business Model Generation : A Handbook for Visionaries, Game Changers and Challengers”, reference book in the field.

From an interview by Christoph Fischer (Bulletin Alumni HEC n°79)

The guide to entrepreneurship | The business model, or how to forecast my income |

15

6 Which legal form should I choose for my business ?

There are several possible legal forms for a company in Switzerland. Among these, the most common are the raison individuelle, RI (sole enterprise), the société à risque limité, Sàrl (private limited company, or limited partnership)  and the société anonyme, SA (public limited company). In the case of the first there is no legal entity and therefore no separation of the entrepreneur from the enterprise.

In the case of the Sàrl and the SA, the assets of the entrepreneur are completely independent of those of the enterprise.

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| The guide to entrepreneurship | Which legal form should I choose for my business ?

Company does not have its own capital ; only the personal assets of the entrepreneur.

None

An individual

Not required

Registration compulsory only if the turnover exceeds CHF 100,000 per annum.

Otherwise optional.

Not required.

Capital

Participation

Founders

Articles of association

Commercial register

Audit body

Raison individuelle (sole enterprise)

Comparison of the legal forms

17

If all the partners agree, small Sàrl companies (less than 10 full-time employees) may forgo the audit.

Companies not meeting these criteria are generally subject to a lesser audit limited to an investigation, an analytical examination and verification of details.

The standard audit, which may also be requested by shareholders with a holding of at least 10% of the share capital, requires a detailed report to be submitted to the board of directors and a report summarising the audit to be submitted to the general meeting.

Compulsory.

Standard audit if, for two consecutive years, two of the three following criteria are met : >> balance sheet total in excess of CHF 20 million ; >> total turnover in excess of CHF 40 million ; >> number of employees in excess of 250.

Registration compulsory

Compulsory

At least one

Shares (at least one share per partner).

Minimum value of a share : CHF 100

Min. CHF 20,000, paid up at 100%

Sàrl (private limited company, or limited partnership)

The same as for a Sàrl (see opposite)

Registration compulsory

Compulsory

At least one

Registered or bearer shares.

Minimum value : 1 centime

Min. CHF 100,000, paid up at 20% but minimum CHF 50,000.

SA (public limited company)

6 RI, SA or Sàrl : advantages and drawbacks The Raison Individuelle (RI ; sole enterprise) Advantages >> A lot of freedom in the management of the company. >> A sole enterprise may be created without capital, at least in theory. In reality, a minimum of capital will be needed to get off the ground.

>> Foundation : no formalities, few costs (only where entry in the Commercial Register is necessary). >> Administrative fees : these are lower than for a Sàrl or a SA.

>> Tax : there is no double taxation of the profits, i.e. the revenue of both the company and the entrepreneur.

Drawbacks >> Responsibility : the proprietor is liable up to the value of the assets of his company as well as those of his private assets. >> The name of the proprietor is known (unlike a public limited company). >> No free choice of the company name : the name of the proprietor must appear in the company name.

>> Harsh debt collection procedure, the aim of which is the forced sale of all the assets of the debtor (insofar as the company is entered in the Commercial Register). >> Social security contributions : entrepreneurs operating as a sole enterprise have the status of independent worker, and on the whole must provide for their own social insurance.

>> Responsibility lies solely with the proprietor.

►► From a legal point of view, this form is recommended where an individual carries

out a commercial activity. The sole enterprise is

ideal

for

professional

occupations

(architects, craft workers, doctors, lawyers and local commercial enterprises).

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| The guide to entrepreneurship | RI, SA or Sàrl : advantages and drawbacks

6 The Société à responsabilité limitée (Sàrl ; private limited company, or limited partnership) Advantages >> Minimum capital required : relatively low amount. >> Company name : there is free choice of the company name, but it is compulsory to include “Sàrl”. The name may be protected.

>> Social security benefits : the

partners

involved may be treated as employees and insured. >> The profits from the sale of shares are not taxable.

>> Responsibility : limited to the share capital. >> At least one founder is needed.

Drawbacks >> Double taxation on the profits and capital of the enterprise, as well as on the income and the assets of the partner.

>> Organisational bodies, capital and shares can be freely viewed in the commercial register, which is open to the public.

>> Foundation : higher foundation fees than for a sole enterprise.

>> Higher management costs than for a sole enterprise : minutes, partners’ meetings, completion of tax forms, etc.

►► The “Sàrl” form is used in particular for small and medium-sized enterprises

that are closely associated with actual people. The Sàrl is ideal for family firms or companies where the financial backers

play an active part in the management of the business.

The guide to entrepreneurship | RI, SA or Sàrl : advantages and drawbacks |

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6 The Société Anonyme (SA ; public limited company) Advantages >> Responsibility limited to the amount invested in the share capital by the shareholders, except in the case of criminal acts or negligence. >> The distribution of shares between the shareholders is not entered in the commercial register. >> Social security benefits : the shareholders involved are treated as employees and must be insured.

>> There is free choice of the company name, but it is compulsory to include “SA”. >> Possibility of increasing the influence of the founder, by means of special voting shares, a restriction on the transfer of shares or the distribution of shares. >> The SA has a better image than the Sàrl and the RI.

Drawbacks >> Higher minimum capital (CHF 100,000) than a Sàrl. >> Foundation : numerous formalities, high fees.

>> High management costs : minutes, management reports, accounts, general meeting, completion of tax forms, audit body, etc.

>> Double taxation on the revenues and capital of the SA, as well as on the income (dividends) and assets of the shareholders. >> Strict instructions concerning the accounting procedure : legal reserves, measures for the case of overindebtedness, etc.

►► The

SA

is

the

typical

corporate

form, associated with high capital requirements.

This

legal

form

is

therefore ideal for any company based around making a profit.

20

| The guide to entrepreneurship | RI, SA or Sàrl : advantages and drawbacks

6 Other corporate forms There are various other possible legal forms for your company in Switzerland : société simple (simple partnership ; the form imposed automatically when there are several partners), société en nom collectif (general partnership), association, foundation and cooperative. ►►

Useful links

>> National portal for the creation of a business (in French, German and Italian) ®®www.pme.admin.ch >> Creating your business online (detailed information in French, German and Italian ; some basic information in English) ®®www.startbiz.ch >> Code of Obligations ®®www.admin.ch

The guide to entrepreneurship | RI, SA or Sàrl : advantages and drawbacks |

21

7 Legally founding my business Basic concepts The following elements should be decided upon before the formal creation of your company :

55

Determine the aim of your company ;

55

Choose the official name of your business.

This can be freely chosen in all cases except sole enterprises, where it is compulsory for the name of the proprietor to be shown ;

55

Choose an address (registered office) ;

55

Determine the amount of capital and the number and type of any shares (registered or bearer shares, see p.23) or partnership shares ; Make contact with a bank to open a deposit account in the name of the company to be formed. The paid-up amount (all or part) should be paid into this account ;

55

►►

55

Consider the logistical aspects (telephone, fax, Internet connection) ;

55

Reserve your Internet domain name and choose your host ;

55

Draw up the articles of association, see p.25 ;

55

If appropriate, register your trade mark with the Swiss Federal Institute of Intellectual Property (IPI), see p.28 ;

55

Contact any members of the board of directors (if you are opting for the SA corporate form) and the audit body ;

55

Contact the potential managers of your company (if you are opting for the Sàrl corporate form).

Useful links

>> Company name ®®www.zefix.ch >> Registration of a trade mark (subject to payment) ®®https://e-trademark.ige.ch >> Domain names (to check whether a name is free, and to reserve it) ®®www.switch.ch

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| The guide to entrepreneurship | Legally founding my business

7 Creating my business in 9 stages with the help of a notary 1. Ask your bank for a statement of available funds for your deposit account (permanent capital).

5. At the constitutive meeting the notary will read out the memorandum of association.

2. Together with the other founders of the business, you should visit a notary for the constitutive meeting for your business. If you cannot attend in person, you can give power of attorney to a third party who will represent you. If the future administrators or managers are not present at the meeting, they must sign a letter confirming acceptance of their mandate.

sign the memorandum of association as well as the other documents prepared by the notary (articles of association, request for registration in the commercial register, etc.).

3. Draw up a shareholders’ agreement, see p. 26.

4. The notary will have prepared draft articles of association (see p. 25), which will be discussed and amended as appropriate for your company.

6. The founders or their representatives will

7. The notary will send the memorandum of association, the articles of association and the other signed documents to the commercial registry (see estimate of fees, p. 24).

8. The commercial registry will then send the notary an extract confirming registration of the company.

9. The entry of your company in the commercial register gives it the status of a legal entity.

This allows the company to freely acquire rights and obligations.

The guide to entrepreneurship | Legally founding my business

|

23

7 Fees for entry in the commercial register The fees for entry in the commercial register depend on the legal form chosen.

Below are the fees you should allow for (approximate amounts in CHF) : Raison individuelle (sole enterprise)

120 (basic fee)

Société en commandite/société en nom collectif (limited partnership/ general partnership)

240 (basic fee)

Société anonyme/Société à responsabilité limitée (Sàrl, Public or private limited company) *

600 (basic fee)

Signature rights

30 (per entry)

Registration of functions

20 (per entry)

Preparing and submitting an application for registration

up to 100

Providing/authenticating the supporting documents for registration

up to 120

Legal advice/examination of supporting documents

between 100 and 250

* Where the share capital, authorised capital or equity capital of the legal entities exceeds CHF 200,000, the basic fee is increased by 0.2 per thousand of the tranche of capital above this amount ; it may not, however, exceed CHF 10,000.

Following entry of your business in the commercial register, you will probably receive an offer to register your business in a directory or other register, which will be accompanied by a payment slip for CHF 700. This kind of proposal is usually sent by one of two companies, NMC Registre SA/Registre pour le commerce et l’industrie (Zurich) and GHI Register und Publikationen AG/Registre des arts et métiers, du commerce et de l’industrie (Aarau). Not only is entry in such a register expensive, it is also optional and generally of little benefit. You are therefore advised not to take up the offer.

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| The guide to entrepreneurship | Legally founding my business

7 Drawing up the articles of association of your company The articles of association of your company should contain certain essential aspects, which we have listed below. It should be noted that some of the articles below only concern the constitution of SAs. Section 1

Name, registered office, duration and aim of the company

Section 2

Share capital (amount, bearer or registered shares, transfers, increases, new share issues, etc.)

Section 3

General meeting (calling the meeting, rights, voting rights, etc.)

Section 4

Board of directors (for SAs)

Section 5

Auditors

Section 6

Accounts and profits (legal reserves, dividends, etc.)

Section 7

Winding-up and liquidation of the company

Section 8

Publications and place of jurisdiction

Date and signature .....................................................

►► The

Incubator

Foundation

can

service

help

of

The

Ark

technological

businesses in the course of creation that

are located in Valais to draw up the formal articles of association of their company.

►► Do not hesitate to contact us if you need advice : incubateur@theark.ch

The guide to entrepreneurship | Legally founding my business

|

25

7 The shareholders’ agreement : checklist The shareholders’ agreement is a contract ; its contents are not stipulated by law. Its aim is to clarify the relationship between the shareholders, thus supplementing the articles of association. You will see below the main aspects that should be covered in a well-drafted shareholders’ agreement.

55

1. Names of the parties

55

9. Rules specifying personal obligations

55

2. Preliminaries

55

10. Special rules for certain partners

55

3. Aims of the contract (precisely described)

55

11. Contractual penalties

55

4. Term of the contract

55

12. Breach or termination of the contract

55

5. Rules on decision-making

55

13. Final provisions

55

6. Rules on voting

55

14. Place and date

55

7. Rules on restrictions to the ownership rights of shares

55

15. Signature of all the parties

55

8. Rules specifying the value of shares

55

16. Any appendices

26

| The guide to entrepreneurship | Legally founding my business

7 Registered or bearer shares.

What is the difference ? ►► Bearer shares are the simplest form of share. Their owner is the person who holds them. There is therefore no restraint on the transfer of these shares.

►► Registered shares are created in the name of the shareholder, who must be entered in the register of shares. From the company’s point of view, the issue of registered shares has the intention

of controlling and knowing the identity of its shareholders.

The guide to entrepreneurship | Legally founding my business

|

27

8 Intellectual property – my right to my ideas !

I have an ingenious idea that could lead to a promising business. But how can I prevent it from being stolen, copied or simply used for the benefit of someone else ?

It is vital for entrepreneurs to be able to protect their ideas and benefit freely from their invention. This is what “intellectual property” (IP) is all about. Its objective is to guarantee its holder exclusive exploitation rights to a business idea.

For a company that is just starting out, it is essential to be able to develop its ideas commercially.

There are several ways of going about this : by means of patents or via trade marks. These elements thus become a vital element of the company’s capital, and are useful, among other things, as a way of reassuring future investors.

Consequently, sound strategies for the protection of IP should be developed. The creators of a business may be supported in this procedure by professionals, who will study the patentability of their idea, or simply advise on how it can be freely exploited, i.e. confirm that there are no restrictions on the commercial development of their idea.

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| The guide to entrepreneurship | Intellectual property – my right to my ideas !

8 The patent A patent is a document issued by the State, that grants protection for a technical invention. In the legal sense of the term, an invention is a solution to a technical problem. In order to be patentable, an invention must be new, must not be an obvious development of the current state of the art (i.e. must involve what is known as an “inventive step”) as recognised by a person skilled in that field, and must be capable of industrial application.

Protection may only be granted by a national patent office. At present there are no global patents. You should therefore obtain a patent in all the countries where you want protection.

You are advised to obtain the advice of a patent attorney ! If you are inexperienced, correctly drafting a patent application could be problematic.

The Ark Foundation, especially its Accelerator service, is skilled in this field and can help you.

With a patent, you will have the right to exclude any third parties from the professional utilisation of your invention for a maximum of 20 years.

During this period, you will have the right to prohibit the use of your invention, without your authorisation, for economic gain. In return you must reveal the details of your invention and make it public.

How much does it cost ?

The Swiss Federal Institute of Intellectual Property charges : ►► CHF 200 for the submission of a patent

application and CHF 500 for examining the request.

►► From the 5th year there is an annual fee, of CHF 100 for the fifth and sixth years, CHF 200 for the seventh and eighth years and CHF 310 from the ninth year onwards.

►► These amounts do not include the general costs should you retain the services of a specialist.

The guide to entrepreneurship | Intellectual property – my right to my ideas ! |

29

8 The trade mark A trade mark is a protected distinctive sign that enables a company to distinguish its products or services from those of other companies.

A trade mark may be any sign that can be graphically represented : >> Words (e.g. Victorinox) ; >> Combinations of letters (e.g. ABB) ;

If you protect your trade mark, you have the exclusive rights to use it to designate your products and services, and to use your rights as you wish (e.g. to grant licences for others to use them). You may also prevent any third parties from using a sign that is identical or similar to yours to designate identical or similar products or services.

>> Combinations of numbers (e.g. 501) ; >> Figurative representations Railways logo) ;

(e.g.

Swiss

>> Three-dimensional forms (e.g. the Mercedes star) ; >> Various other signs.

How much does it cost ? ►► The fee for registering a trade mark in

Switzerland for a protection period of

ten years is CHF 550. The registration of

your trade mark may be extended for a further ten years at the end of each tenyear period.

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| The guide to entrepreneurship | Intellectual property – my right to my ideas !

8 The design A design protects the external form of a twodimensional or three-dimensional object. The form is characterised by the arrangement of lines, surfaces, contours and colours, and/or by the material used.

A design may be protected provided it is new, it is substantially distinguishable from existing designs and it is not in contravention of the law or accepted moral standards. In addition, the form should not be determined solely by the function of the object for which it is intended.

Registration of a design with the Swiss Federal Institute of Intellectual Property enables you to prevent third parties from using it for industrial or commercial purposes, in other words prevent the manufacture, sale, import or export of products with a design identical or similar to yours. This protection is for a maximum of 25 years.

How much does it cost ? ►► The basic fee for the registration of a design is CHF 200. Each additional design registered as part of the same application is charged at

CHF 100 (up to a maximum of CHF 700).

A publication fee of CHF 20 is added for each representation of the design. The first publication is included in the basic charge.

►►

Additional information

>> Swiss Federal Institute of Intellectual Property (IPI) ®®https://www.ige.ch >> The Ark Accelerator ®®http://acccelerateur.theark.ch

The guide to entrepreneurship | Intellectual property – my right to my ideas ! |

31

9 The various compulsory social security contributions Old-age pension and survivors’ insurance (AVS) Disability insurance (AI) Loss of income insurance (APG) The aim of these three social insurance schemes is to ensure the minimum means to live for those entitled to it. All persons in gainful employment from the age of 17 to retirement age are insured.

Your business must be affiliated to a compensation fund. In principle you do not have to do anything.

The compensation fund will make contact with you following publication in the Swiss Official Gazette of Commerce (commercial register). However the obligation to affiliate is your responsibility, so you should ensure that this formality is complied with if you are not contacted by a compensation fund.

In your capacity as employer you are responsible to the fund for all the contributions (those of both the employer and the employee).

The total deductions from salaries are as follows (as at 01.01.2013) : >> AVS 8,4% >> AI 1,4% >> APG 0,5%

These amounts are shared equally between the employer and employee.

It should be noted that the compensation funds charge administrative fees to cover their costs.

These fees vary between the funds.

Unemployment insurance (AC) All salaried employees affiliated to the AVS must contribute to the AC. The aim of the AC is to provide reasonable compensation for the loss of earnings caused by unemployment, insolvency of the employer or a reduction in working hours.

The basic contribution is 2.2% for salaries up to CHF 126,000. A “solidarity contribution” of 1% is added in the case of salaries from CHF 126,000 to CHF 315,000 (as at 01.01.2012).

These amounts are shared equally between the employer and employee.

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| The guide to entrepreneurship | The various compulsory social security contributions

9 Occupational pension fund (LPP) Your company must be affiliated to a fund for the payment of LPP contributions if the company employs people who are subject to the LPP. The aim of this insurance is to enable elderly people, their survivors and the disabled to maintain an appropriate standard of living in the case of an insured event.

All salaried employees with an annual salary in excess of CHF 20,880 must be insured by their employer. One part of the contributions covers the risk (death before retirement) and the other part the welfare benefits.

The contributions are usually shared equally between the employee and the employer.

In principle, the AVS compensation fund should ensure that if your company is affiliated for the purpose of AVS contributions, it is also affiliated to an LPP fund.

Accident insurance (AA) You must take out an accident insurance policy for your employees. The aim is to guarantee insurance benefits in the case of occu pational and non-occupational accidents. This insurance mainly covers medical fees and temporary inability to work. It also provides additional pension payments in the case of disability, and payments for the spouse or children of a disabled person.

The premiums vary depending on the insurance companies and the risks insured (depending on age, the occupation, etc.). You are free to take out a policy with any insurance company. Insurance companies will generally contact you following publication in the Swiss Official Gazette of Commerce (commercial register). It is therefore important to get quotes and compare them !

In principle, the non-occupational accident insurance (AANP) is the responsibility of the employee, while the occupational accident insurance (AAP) and any other contributions are the responsibility of the employer.

The employer should inform the insurer immediately of any accidents or occupational illnesses.

The guide to entrepreneurship | The various compulsory social security contributions |

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9 Family allowances In your capacity as entrepreneur, you should be affiliated to a private family allowance fund or to your inter-professional family allowance fund if the company employs people. The aim of this insurance is to guarantee a contribution to parents to help them with the maintenance of their children.

The amount and type of allowances vary from canton to canton. The minimum is CHF 200 per month, per child. There are also benefits for professional training (from age 16 to the completion of training, but not beyond the age of 25). Certain cantons also pay benefits on the birth or adoption of a child.

The employer is obliged to pay a contribution based on the percentage of the total salaries bill, even if their employees do not have dependent children.

The fund compensates directly, calculated on the basis of the services due and the contributions received.

In Valais, the family allowance is CHF 275 per child (CHF 375 from the 3rd child). It rises to CHF 425 for children in education (CHF 525 from the 3rd). A benefit of CHF 2,000 is also paid on the birth or adoption of a child.

Health insurance As a general rule, employers are not obliged to insure their employees against the consequences of illness. However, employers may offer their employees a group private insurance scheme for loss of earnings in the case of illness.

Maternity insurance Women in gainful employment have a right to claim 80 % of their most recent salary during the 14 weeks following the birth of their child. This amount is, however, limited to CHF 196 per day.

The payments under this insurance are included in the loss of income insurance cover (APG).

Also, any medical fees arising in connection with pregnancy and labour are covered by the health insurance.

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| The guide to entrepreneurship | The various compulsory social security contributions

10 Additional types of insurance cover for my company Even if your company is well-managed, it is not out of the question that things may go wrong.

It is therefore essential to ensure that it can continue to function whatever happens. Various optional insurance policies may be taken out by businesses to minimise the risks and avoid endangering the company’s economic activity. The following are the main insurance types that may be of interest to you : Buildings insurance (fire, flooding, etc.) ; Contents insurance (furniture, IT equipment, etc.) ; Construction insurance (useful if you plan to undertake building or renovation works) ; Vehicle insurance (for the company’s fleet of vehicles) ; Cover for the transport of goods or merchandise ; Insurance for the loss of operating income (in the case of force majeure) ; Civil liability insurance (useful in cases of legal action in connection with civil liability. This insurance may be taken out by the business or the entrepreneur as an individual) ; >> Legal protection insurance (gives protection from the costs and inconvenience resulting from a legal dispute). >> >> >> >> >> >> >>

The guide to entrepreneurship | Additional types of insurance cover for my company |

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11 “Don’t be afraid of your ideas !”

Interview with Sébastien Mabillard, start-up coach.

As the manager of The Ark’s business incubator you are in daily contact with young entrepreneurs. What do you think are the main qualities of a good entrepreneur ?

In general entrepreneurs should be excellent communicators. They should be capable of sharing their enthusiasm with their team, their investors and their commercial or technical partners. In order to do this, they must be totally convinced of the merits of their idea and their project.

What follows on is simply a question of perseverance and endurance : a veritable marathon !

How can new entrepreneurs ensure that their business gets off to a good start ?

You should know how to create a positive dynamic surrounding your project, draw out and pool skills, expertise and key personnel to ensure the positive development of your project. Support organisations such as the Incubator at The Ark are a part of this process.

The latter is a space set aside for those who want to launch themselves into the exciting adventure of entrepreneurship in technological fields. Its aim is to support entrepreneurs as they are starting out, to train them, and ultimately to help them succeed in their business enterprise.

How can new entrepreneurs find their niche, taking account of the current economic conditions ?

What advice would you give to those who want to venture into the world of entrepreneurship ?

New ideas and innovation in the widest sense can be considered a guarantee of success. By standing out from that which is usually done, by positioning yourself in niche markets or specific segments, you gain significant visibility and a good market share, provided your target client base is “ripe” for

Share your project ; talk about it ! It’s the exchange and sharing of experience that will nourish your project. Don’t keep your ideas to yourself ! At the end of the day, it’s all about making it happen.

adopting your new idea.

don’t try you’ll never know.

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Don’t be afraid of your ideas – go for it ! If you

| The guide to entrepreneurship | “Don’t be afraid of your ideas !”

12 Employment contracts for my employees To enable your business to develop its activities you will probably have to employ people. Here are some important aspects to consider when concluding an employment contract :

General aspects >> By signing an employment contract the employee undertakes to work for the employer, either for a fixed or indefinite period. The employer promises to pay them a salary.

I advise you to draw up a written contract in order to define clearly the rights and obligations of each of the parties.

>> The employment contract does not have to take any particular form ; it may be concluded verbally or in writing.

Contents of an employment contract The employment contract should cover at least the following : 1. The name of the parties (employer and employee) ; 2. The start date of the employment ;

Provisions dealing with working relations may be included in a more general document (e.g. company regulations, general terms and conditions, etc.). However, to ensure that these provisions apply they must be referred to expressly in the employment contract.

3. The work to be done ; 4. The salary to be paid in return for this ; 5. In certain sectors, account should be taken of any collective agreements.

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In the case of any aspects that are not covered in the employment contract (e.g. the leave entitlement, the right to holidays, etc.), the provisions of the Swiss Code of Obligations (CO) (or the collective agreement if one is in place) apply in their place.

| The guide to entrepreneurship | Employment contracts for my employees

12 N.B.

Some provisions of the Code of Obligations are compulsory in Switzerland. The employment contract must not depart from these ! See in particular Articles 319 onwards.

Employee protection is covered by the Swiss Federal Act on Employment in Industry, Trade and Commerce. This law sets out the minimum regulations on protection in the public interest, and any gaps are filled by collective agreements. For example, it specifies as a general rule a maximum working week of 45 hours. ►►

Useful links

>> Code of obligations, employment contract ®®www.admin.ch >> Portal outlining Swiss administrative bodies ®®www.ch.ch

The guide to entrepreneurship | Employment contracts for my employees |

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13 Where and how to find funding ?

Entrepreneurs or those planning to start a business should be able to contribute as much money as possible themselves. However, finding the necessary funding to launch and develop your business is not always easy.

The life of a business and its financing needs Example of a business in a technological field :

Expansion

Early stage

Financing phase

Activities

Amount (CHF)

Time in months

Concept

Development of the business concept

10,000 to 20,000

2 to 6 *

Creators, 3F (friends, family, fools)

Preparations

Creation of the business plan, research into financing, forming the group of creators, feasibility study

50,000 to 500,000

6 to 24

Creators, 3F, business angels, venture capital (during the preparatory phase), banks with start-up financing services

Starting out

Development of the product/ service, preparation for market launch

500,000 to 2,000,000

6 to 24

Business angels/co-investors, venture capital

Phase 1

Market launch

1,000,000 to 5,000,000

6 to 12

Venture capital

Phase 2

Scaling the products/ services

2,000,000 to 20,000,000

12 to 48

Venture capital

Phase 3

Expansion of the market

2,000,000 to 20,000,000

6 to 36

Venture capital

Transitional stage

Interim finance to prepare for flotation on the stock market (IPO)

2,000,000 to 20,000,000

6 to 36

Venture capital

Investors

* In the case of technological development, it may be necessary to invest for a period of 3 years before reaching a level of maturity sufficient for commercial development. Source : START Unternehmenszentrum Zurich

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| The guide to entrepreneurship | Where and how to find funding ?

13 The Swiss Confederation and the cantons only offer subsidiary support for the financing of businesses.

However, here are some other possible sources of support in the canton of Valais :

Le Centre de compétences financières (CCF)

®®www.ccf.valais.ch

This organisation offers financial assistance and the following services : >> Investment in your company by means of seed money, right from the start of your project. Maximum investment of CHF 50,000* ;

>> Tax exemptions (provided the municipality in which the applicant company’s registered office is located grants the same exemption for the municipal taxes) ;

>> Investment in the development of companies with strong potential by means of a venture capital fund ;

>> Co-financing for consultancy : enables some of the studies required in advance of investment to be financed ;

>> Investments for the purpose of support and/ or funding from local investors at different stages of the development of your business* ;

>> Assistance with the financing of attendance at trade and/or technology fairs. Financing of up to 50% of the costs.

>> Guarantees that facilitate the grant of bank loans or leases, as well as bank guarantees* ; >> Subsidies for procedures aimed at improving competitiveness* ;

* Minimum requirements for obtaining CCF support : innovative project, the majority of the turnover to be obtained from outside Valais, significant impact on employment.

Club valaisan des business angels Managed by the CCF, the Valais business angels’ club consists of local and foreign investors who are looking for financial involvement in a Valais company or want to offer their networks and expertise to the company.

®®www.bizangels.ch

The investors may get involved at different stages of the development of a company (usually during the creation and start stages).

The guide to entrepreneurship | Where and how to find funding ? |

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13 The Ark Foundation The Foundation does not offer direct financing, but supports companies with coaching services and accommodation.

®®www.theark.ch In particular by means of its Incubator service for businesses, it also finances specialist partner services (patents, law, communications, etc.).

Commission for Technology and Innovation (CTI) The CTI is affiliated to the Swiss Federal Department of Economic Affairs, Education and Research.

It assists with the implementation of projects in the fields of research and development at the interface between universities and enterprise.

The main aim is to transform the results of research into products ready to succeed on the market. The CTI finances the salaries of participating researchers. The company finances its own involvement and puts forward a cash sum to be used for research purposes.

The Ark Foundation may be able to help your company to set up a CTI project or to obtain the designation CTI Start-up.

Awards for entrepreneurs Various competitions and awards for young entrepreneurs are held regularly throughout Switzerland. Some offer cash prizes, thereby getting your company off to a good start. You can see a selection of competitions (in French) at : ®®www.theark.ch/guide

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®®www.kti.admin.ch

Start-ups and companies that have been designated CTI Start-ups benefit from preferential access to venture capital backers.

| The guide to entrepreneurship | Where and how to find funding ?

14 What taxes will be imposed on my business ?

Preamble In Switzerland, the national government (i.e. the Swiss Confederation), the cantons and the municipalities are all responsible for collecting taxes. Businesses (legal entities) must pay tax on

amounts owing in respect of these two kinds of tax.

Value added tax is also payable ; here, companies must themselves make contact with the Swiss Federal Tax Administration.

their profits and their capital. The tax authorities will contact you in due course to bill you for the

Sole enterprise : no tax on the business in itself Sole enterprises are not taxable. Individual entrepreneurs are liable for tax on their private and business earnings as well as their private and

business assets ; the private and business spheres are not separable.

Public and private limited companies (SA and Sàrl) : double taxation Unlike individual operators, in the case of public and private limited companies and limited partnerships, the private sphere is clearly distinguished from the commercial. These companies are taxed as businesses, while the shareholders and partners or associates are taxed as private individuals.

However, this clear separation does lead to double taxation when viewed economically.

On the one hand, therefore, the company’s profits are taxed, and on the other, a shareholder must pay tax on the income from any dividends. The same applies to the share capital. The company must pay tax on the capital and the shareholders are liable for tax on the assets, in the form of the value of their shares.

Tax on net profits Public and private limited companies pay a tax on their profits. The tax liability begins on the date of entry in the commercial register. This is a simple tax based on a percentage of profits. A fixed rate is applied (for example, 8.5% for the Confederation).

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However, different systems exist at canton and municipality level. The Canton of Valais uses a sliding scale depending on the level of profit.

| The guide to entrepreneurship | What taxes will be imposed on my business ?

14 Tax on share capital All the cantons (but not the Confederation) raise a tax on the share capital. This is usually a fixed percentage of 0.3 to 0.9 per cent. The Canton of Valais applies a slightly progressive rate.

In the majority of cantons, the tax on the capital includes the share capital, or partnership capital, and the declared reserves.

Value added tax (VAT) VAT is an indirect tax raised by the Confederation on companies that provide services in Switzerland, when goods are imported and on those who purchase services from companies based abroad.

The standard rate is 8% of the turnover ; 3.8% is charged in the accommodation sector and 2.5% on food and soft drinks, books, newspapers and magazines, medicines and sporting and cultural activities (as at 31.12.2011).

In principle, all companies with a turnover in excess of CHF 100,000 must be registered for VAT. If you are not sure you will achieve this turnover, you have a period of three months before you have to register with the Swiss Federal Tax Administration (AFC) ; on all other cases you must register during the month following the date your commercial activity commences.

If you do not satisfy these conditions, you may choose to register voluntarily for VAT, subject to certain conditions, by applying in writing to the AFC.

Other taxes The main taxes, other than those already referred to above, are : >> Withholding tax (Impôt Anticipé [IA]), aimed at encouraging the holders of bank accounts to declare their holdings, or shareholders to declare their dividends ;

>> Business tax, deducted by municipalities on the basis of the following criteria : the turnover, the number of employees and the area of the premises occupied (or rents paid). The tax rate varies from municipality to municipality ; >> Stamp duty is deducted on the issue and sale of shares and the payment of insurance premiums.

The guide to entrepreneurship | What taxes will be imposed on my business ? |

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15 How to draw up an invoice correctly ?

From the moment a business starts trading you should be prepared to collect money, and therefore to invoice for goods and services. It is important to establish an efficient invoicing system which satisfies the formal requirements. If an invoice does not satisfy the official criteria, this may give rise to problems with VAT and the Swiss Federal Tax Administration.

Your invoices should therefore include at least the following elements :

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Name and address of your business ;

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Your VAT number (if you are VAT registered) ;

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Name and address of the addressee. The name of the person to whom the invoice is sent is usually shown after the company name ;

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Date of delivery (if not identical to the date of the invoice) ;

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Specific description of the goods or service(s) ;

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Price (consideration) of the consignment or service ;

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VAT rate applied (e.g. “plus 8% VAT”). The note “plus/including VAT’ is not sufficient ;

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You should also ensure that the paying-in slip is correct (via your bank). Stating the IBAN number may be useful if you are invoicing people abroad ;

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Signature : invoices do not need to be signed in order to be a legal document.

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| The guide to entrepreneurship | How to draw up an invoice correctly ?

15 Examples of correct invoices including VAT Non-detailed invoice Item

Total Including VAT at 8%

CHF 3,000.00

Detailed invoice Item 1 Item 2 Gross total (excluding VAT) - 10% discount Net total + VAT at 8% Total including VAT

CHF CHF CHF CHF CHF CHF CHF

3,400.00 2,300.00 5,700.00 570.00 5,130.00 410.40 5,540.40

The guide to entrepreneurship | How to draw up an invoice correctly ? |

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m a e r d r u o ake y

! s u h e wit

u r t e com

M

coaching

accomodation

networks

financing

incubateur.theark.ch

Valais - Switzerland

16 Getting my business known Sorted ! You’ve got your business idea, your products, your business plan and your business model.

All you have to do now is find your customers and get yourself known in the marketplace. For this you need a marketing strategy, which should contain in particular the marketing mix, i.e. your products, the pricing, the distribution methods and the promotion campaign.

In order to be effective, a good marketing plan should be primarily aimed at the target customer base for your business. It is not a matter of being visible at all costs, or being seen everywhere.

The marketing strategy should use the right promotion tools, combined as appropriate. Some of these are described below in two main categories – “classic” marketing and web marketing.

Print marketing - Classic >> Logo : to reinforce the image of your business it is important to have an identity that will be used on all your communication media. A business logo is therefore essential. If you are looking further ahead, it may be very useful to draw up a corporate design guide explaining how to use the logo and the various marketing tools well. >> Brochures : company leaflet, flyer, price list, etc., setting out in print the various services offered by the business. For printing purposes it is important to define a distribution strategy for these materials, to ensure that you print the numbers that most closely correspond to your needs.

>> Advert in the media : press campaigns (the printed media, radio, TV) are also a good way of getting yourself known. On the down side, this kind of advertising costs a significant amount.

??Service Providers : Advertising agencies for the various media (e.g. Publicitas for the printed media, Rhône FM Publicité, etc.), graphic designer or communications agency

??Service

Providers : Graphic designer, communications agency and printer

The guide to entrepreneurship | Getting my business known

|

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16 >> Public relations campaign : when launching a new product or service, or when an interesting landmark is reached by your company (1,000th customer, 5,000th machine produced, etc.), it is a good idea to circulate a press release to the main media in your region.

If the information is interesting and does not involve too much obvious advertising, you will increase the chances of the press taking an interest and publishing a report on you.

Before sending out a press release, make sure you choose the most relevant media for your company (general, specialised, regional, national, etc.).

??Service Providers : Communications agency >> Trade fairs and exhibitions : trade fairs and exhibitions are a good way of getting your company known to a well-defined public, in line with the positioning of the event. You will need to finance the cost of setting up and equipping the stand, and staffing it. In addition to these expenses there is also the cost of hiring the stand (by area), which will vary depending on the profile of the trade fair.

??Service Providers : Event

organisers, stand creators (JokImport, Texner, Novaprint, PG SA, etc.)

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| The guide to entrepreneurship | Getting my business known

>> Advertising gadgets : these little advertising gadgets (sweets, pens, keyrings, etc.) in your >> company’s colours enable you to give a low>> cost “souvenir” to your customers. These are particularly useful at trade fairs and >> exhibitions, or when visiting your customers. >?> ?Service Providers : Specialist companies >> (JokImport, Texner, PG SA, etc.) >> >>

16 Webmarketing >> Website and blog : these days a website is more or less indispensable for any selfrespecting company, whatever its field of activity. It must contain as much useful information as possible for customers to view, and should be designed to match your customers’ needs, not those of your business.

A website can be an excellent sales outlet, without intermediary. It can also be useful to add a blog to a “classic” website ; this will also encourage greater interactivity. However you should be sure to add regular news to the blog to keep readers’ attention.

>> Online adverts : websites offer you the possibility of displaying adverts. Depending on the audience, the price of these may also be considerable. Adverts are generally paid for on a weekly or monthly basis.

??Service

??Service

>> Search engine ranking : it is essential for your business to be well-positioned on search engines. This requires work on the content of your website, the key words featured on its pages and external links.

>> Google AdWords : Google’s advertising service. Enables you to advertise on websites or the search engine. The main advantage for a business is that it only pays when customers click on their advert. Detailed analyses of the impact of these campaigns can easily be viewed via the Google interface.

Providers : Web/communications agencies, online tools such as Joomla, Wordpress, CMS Made Simple, Drupal, SilverStrip, etc.

??Service

Providers : Communications agencies specialising in search engine ranking, yourself

??Service Providers : Advertising agencies, the websites themselves, Google AdSense

>> Newsletter and direct marketing : this tool enables you to send information directly to your customers, by means of electronic newsletters or personalised e-mails.

Providers : Communications agencies. Free online dispatch tools such as Campaign Monitor

??Service Providers : Google, via its online tool

The guide to entrepreneurship | Getting my business known

|

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16 >> Social networks : the presence of your business on social networks such as Facebook, Twitter, LinkedIn, YouTube and Xing enables you to increase your level of recognition. It also enables you to relate directly to your customers, and to obtain their opinions on your products. However, the management of these social networks takes up a lot of time and should be maintained carefully. You should not rush headlong into these social networks, as this could turn out to be counter-productive. A Facebook comment from a customer which remains without response from you does not give a positive impression of your business.

??Service Providers : Agencies specialising in community management, social networks

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| The guide to entrepreneurship | Getting my business known

>> Apps and online games : Android or iPhone apps are currently very in vogue. Depending on the products or services offered by your business, it may be useful to develop this kind of tool. However, the cost of an app can run into several thousands of francs.

??Service agencies

Providers : IT companies or web

17 Time management for an entrepreneur Time is money. This well-known saying is particularly true for an entrepreneur. The wide variety of tasks and activities you have to manage yourself means that time management is absolutely essential, and is also necessary for the successful development of your company.

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| The guide to entrepreneurship | Time management for an entrepreneur

17 The 8 golden rules 1. Establish a framework Ask yourself the question : what is the raison d’être and purpose of my business ? It is important to establish a framework for your activities and stick to it. There is a great risk of losing yourself in tasks that do not relate to your field of activity.

2. Added-value activities The 20/80 rule states that you should give priority to the 20% of the activities that are the most essential to the business, which generate 80% of the positive results. It is very tempting to devote your time to the activities you enjoy most, and to neglect those you like least. You should therefore concentrate on the activities that add value.

etc.). Analyse and identify the elements that take up your time and take measures to overcome them.

5. Know how to say no Don’t agree to anything and everything ; in this way you will gain a considerable amount of time. However, you should consider the request and analyse the potential interest of the task. It is essential to make the other person understand that your refusal is due to a lack of time, not interest.

6. Planning your time It is essential to plan your activities. Efficient planning should be made up of 60% planned activities and 40% spare time for contingencies.

3. Prioritisation of tasks You should draw up a weekly “to do list” showing what needs to be done. Tasks should be classified by their importance and urgency, with 1 for the most urgent/ important, 2 for those that are less so, etc.

To ensure greater efficiency, carry out each task at a single sitting, starting with those you enjoy least.

4. Identify the factors that are a drain on your time There are many factors that are a drain on your time (IT, travel, meetings, colleagues,

7. Self-discipline This is without doubt the rule that is the most difficult to implement. The main contributory factor to loss of time is yourself. You should analyse yourself and change your habits.

8. Be organised Putting all these rules into practice requires a certain rigour and good organisational skills.

Certain tools such as Outlook et Excel help you to manage and coordinate your tasks and meetings as efficiently as possible.

The guide to entrepreneurship | Time management for an entrepreneur |

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17 Know your limits It is important to know your limits and to set yourself objectives that are stretching but realistic.

You should also identify all the sources of lost time and lack of concentration – instant messaging, checking e-mails too frequently, having too many discussions with colleagues, etc. Good time management inevitably comes down to discipline.

Source : Georges-A. Gessler, Accord Sàrl

►► Use the NERAC method for managing and monitoring your tasks and activities

N ote the activities and tasks to be completed E stimate the time to be spent on the activities R eserve time for contingencies A ssess the priority, urgency and importance of your activities C heck the progress of your tasks and carry forward unfinished tasks

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| The guide to entrepreneurship | Time management for an entrepreneur

18 The Ark Foundation The Ark, the Foundation for innovation in Valais, has the primary objectives of reinforcing the competitiveness of businesses, and stimulating and diversifying the economic fabric of Valais. The Ark promotes innovation among the businesses of Valais through three main services : >> the Accelerator (help with the marketing of technologies) >> the Incubator (support for start-ups) >> Innovation (support for innovation within existing SMEs).

These services are available at six technology sites, spread throughout the whole of the canton : BioArk (biotechnology, Monthey), IdeArk (human-machine interaction, Martigny), PhytoArk (commercial development of natural ingredients, Conthey), TechnoArk (Internet of Things, Sierre), BlueArk (energy efficiency and renewable energies, Sion) and BioArk Visp (biotechnology, Visp).

The Ark Incubator This is a service dedicated to new businesses. Offering professional supervision and appropriate infrastructures, The Ark Incubator aims at maximising the chances of success for a variety of projects.

The Ark Incubator provides practical support for innovative projects in the form of well-defined services : >> Coaching (tailored professional support) and finance for external services (legal, patents, etc.) ; >> Accommodation (modular, adaptable premises on various sites throughout the canton) ; >> Help with finding financing ; >> Networks (both national and international) and events.

Additional information ®®incubateur.theark.ch

The guide to entrepreneurship | The Ark Foundation |

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►► to do list ◄ ►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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d n a p a e l e h t e k a Are you keen to m ? s s e n i s u b n w o create your

We will guide your start-up to success!

coaching

accomodation

The Ark Incubator, Valais

financing

networks

www.theark.ch/incubateur

►► to do list ◄ ►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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►► to do list ◄ ►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

►► . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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10

GOOD REASONS TO CREATE YOUR START-UP !

So here you are – you have found “the” innovative idea that enables you to establish your own business.

But there comes a time when you have to take the plunge into the inviting waters of entrepreneurship.

Still not sure ? Here are 10 reasons – among others – why you should launch your start-up.

1. Being your own boss : who hasn’t dreamt of it ? You are the one who decides on the future of your business : this possibility – which is also a responsibility – is at the heart of the “start-up” adventure.

2. Turning your dreams and ideas into reality : with your start-up you can bring your own idea to life and take part in an amazing adventure in which you will be fully involved.

3. An end to the boring daily routine : as your own boss you will have significant freedom to arrange your work time. No more set working hours. There’s no doubt that in the early days you will put in a lot of hours validating your project and launching it on your target market. But given that it’s something you’re passionate about and doing for yourself, you won’t notice the time going by !

4. Making things happen : everything moves very quickly in the world of the start-up, especially those involving technology. When you found yours you can impose your own rhythms and do away with the slow decisionmaking that so often characterises big business.

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5. Self-fulfilment : doing what you aspire to, developing an idea you believe in – these things are great for the ego and a sense of self-fulfilment. Without getting too psychological about it, the creation of a startup will certainly contribute to shaping or strengthening your personality.

6. Choosing your colleagues : you are the one who will choose your employees, your partners and your suppliers. And given the choice, you will only work with the best !

7. Doing what you enjoy : the creation of your own business is without doubt the guarantee of doing what you enjoy, at least for the majority of your working hours. You cannot escape administrative formalities, but most of your work will be concentrated on your underlying idea and how to sell it.

8. Having more support around you than ever before : You are not alone in this adventure. At any time you can call on practical assistance from organisations and institutions who are committed to supporting you in your work as an entrepreneur. Through coaching and targeted assistance they can give you specific help and share their experience. This is the case in particular at The Ark Incubator.

9. Gain experience and knowledge : you will learn an impressive range of things about corporate life and life in general. You will gain inside knowledge of the world of entrepreneurship, the applicable laws, ways

of selling your product and yourself, and much more. This will always be useful to you, whatever happens with your start-up.

The university of life !

10. You could be founding the new Facebook : some start-ups with strong, original ideas enjoy rapid, meteoric success. You never know, you may be on the verge of creating the next Google or Facebook – you could certainly do worse. But to have a chance of it, you have to dare... dare to take the plunge into the inviting waters of entrepreneurship.

So... ? What are you waiting for ?

Sébastien Mabillard, Start-up Coach and Manager of The Ark Incubator

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QUESTIONS FOR GILLES FLOREY,

3 CEO OF THE START-UP KEYLEMON

Keylemon, a start-up based at the IdeArk in Martigny, was created in 2008. Its technology is mainly aimed at using facial recognition to open a personal computer session. In December 2012, the company signed a contract with Fujitsu, one of the world’s leading providers of IT solutions. The Keylemon solution will be used in a whole new series of the Japanese company’s computers.

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An interview with the CEO Gilles Florey Gilles, what incited you to launch your start-up ?

First of all, the great economic fabric linking the various start-ups in the region. The networking between entrepreneurs and their economic partners is a very positive aspect. And launching a start-up gives you the possibility of doing something different. The third factor was my own drive : I’ve always wanted to create my own business.

What do you like most in your capacity of CEO of a start-up ?

Above all it’s the variety. You’re simultaneously a salesman, human resources specialist, product manager, investment manager – and more. At the same time you’re in contact with an impressive number of different people. This makes the work very varied. I also like to get to grips with problems when it’s essential to find a solution quickly.

If you could go back in time, would you do it again ?

Yes, I’d do exactly the same thing, except I’d create my start-up even more quickly ! At the moment there is plenty of well-developed, competent assistance for young entrepreneurs.

Additional information ®®www.keylemon.com

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SUDOKU

V E R Y D I F F I C U LT

MAGIC SUDOKU

69

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BLOG

THE ARK A FEAST OF INFORMATION ABOUT INNOVATION IN VALAIS

TO BE TAKEN 3-4 TIMES A WEEK

NATURAL INFORMATION

100

%

VAL A I S

GO TO

blog.theark.ch

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MAKING VALAIS THE TECHNOLOGICAL CENTRE OF TOMORROW LIFE SCIENCES

COMMERCIAL DEVELOPMENT

of new technologies

ICT

INCUBATION

of start-ups

ENERGY

INNOVATION

for SMEs

www.theark.ch info@theark.ch

The Foundation for Innovation in Valais

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Would you like to know more ?

Get in touch !

The Ark Foundation, in particular its business Incubator, is there to help young businesses who wish to get established in Valais.

The Ark Foundation Route du Rawyl 47 1950 Sion Switzerland Tel. +41 (0)27 606 88 60

for

The Foundation

incubateur@theark.ch Innovation in Valais ®®www.theark.ch/incubateur

© Protected content. No reproduction allowed without the consent of The Ark Foundation.

Illustrations : Line Broccard Recommended price CHF 49.00