4 ms·

As a student sidegig you can easily just found a small businesses for like 35 EUR and do business. There’s also GbRs that can theoretically be formed on a paper

As a student sidegig you can easily just found a small businesses for like 35 EUR and do business. There’s also GbRs that can theoretically be formed on a paper towel. Thought, it will probably not be easy to raise money this way.

andi999 4y ago
And you are not eligible for government startup funding support after you finish your degree, since it only supporte your first company ('exist' program).
dathinab 4y ago
Universities also provide consulting and crash curses for stuff like that.
- teddyh 4y ago
  A crash curse sounds risky.
  - dathinab 4y ago
    It would have been good enough to avoid at least one of the mistake done. but yes, just relying on some crash course and nothing else is never recommendable
    - teddyh 4y ago
      I was just making a joke about the misspelling.
SkyAndSand 4y ago
.. and you are personally liable for anything damages caused by the business.
- sokoloff 4y ago
  Surely the requirement that a limited liability company has some minimum assets is reasonable for exactly that reason. You wouldn’t want someone to be able to form a company whose liability was limited to couple hundred Euros of assets the company was formed with.
  - lucakiebel 4y ago
    That’s exactly what the UG (haftungsbeschränkt) does, you can set one up with (theoretically) 1€ (though in practice it’s more like 250€), and you then have a GmbH with lower liability
    - harha 4y ago
      Yeah but pay many thousands per year for filing taxes etc and spend years to dissolve. Along with all the personal liability as director. UG is a massive scam in that sense, definitely not what’s advertised.
    - pantalaimon 4y ago
      And that’s exactly why a UG doesn’t look trustworthy to most business partners
  - SkyAndSand 4y ago
    Well, isn't that exactly what is happening if you set up a US LLC or a UK LTD? You get limited liability and can set up the company with a couple hundred dollars or pounds. Why would that be a problem in Germany but not in these jurisdictions?
    - ElevenLathe 4y ago
      IANAL but I think the answer for US single-member LLCs is that if you were ever to actually say, cause 100k of damage to somebody else's property through the actions of your single-person LLC and they were to take you to court, the judge would quickly find that the liability passes through to you, so it's not really all that different from a sole proprietorship (aka just doing business as yourself) in that regard.

andi999 4y ago

And you are not eligible for government startup funding support after you finish your degree, since it only supporte your first company ('exist' program).

dathinab 4y ago

Universities also provide consulting and crash curses for stuff like that.

teddyh 4y ago
A crash curse sounds risky.
- dathinab 4y ago
  It would have been good enough to avoid at least one of the mistake done. but yes, just relying on some crash course and nothing else is never recommendable
  - teddyh 4y ago
    I was just making a joke about the misspelling.

SkyAndSand 4y ago

.. and you are personally liable for anything damages caused by the business.

sokoloff 4y ago
Surely the requirement that a limited liability company has some minimum assets is reasonable for exactly that reason. You wouldn’t want someone to be able to form a company whose liability was limited to couple hundred Euros of assets the company was formed with.
- lucakiebel 4y ago
  That’s exactly what the UG (haftungsbeschränkt) does, you can set one up with (theoretically) 1€ (though in practice it’s more like 250€), and you then have a GmbH with lower liability
  - harha 4y ago
    Yeah but pay many thousands per year for filing taxes etc and spend years to dissolve. Along with all the personal liability as director. UG is a massive scam in that sense, definitely not what’s advertised.
  - pantalaimon 4y ago
    And that’s exactly why a UG doesn’t look trustworthy to most business partners
- SkyAndSand 4y ago
  Well, isn't that exactly what is happening if you set up a US LLC or a UK LTD? You get limited liability and can set up the company with a couple hundred dollars or pounds. Why would that be a problem in Germany but not in these jurisdictions?
  - ElevenLathe 4y ago
    IANAL but I think the answer for US single-member LLCs is that if you were ever to actually say, cause 100k of damage to somebody else's property through the actions of your single-person LLC and they were to take you to court, the judge would quickly find that the liability passes through to you, so it's not really all that different from a sole proprietorship (aka just doing business as yourself) in that regard.