Family owned business is an important factor of Slovenian economy. Family companies are popular even for foreigners. And they have been for a long time. First, let’s look at some facts. According to the latest data, family businesses represent 83% of Slovenian companies. Moreover, those companies employ 70% of the active population. And they contribute 67% of the added value. Are you not from EU? It doesn’t matter. Families from all over the World can open company in Slovenia. Do you want to know more about business in Slovenia? Keep reading to see how to open a family company.
How does a family-owned business differ from others?
The structure of a family-owned company is no different from the structure of other businesses. The only difference is that the shareholders are not only business partners. They are family members as well. And family has a great impact on the business.
However, family connection can change the process of establishing of a company. Let’s look at a case of a married couple that wants to open a business. They will have to register at a notary. On the other hand, establishing a family company is much easier for other types of relatives. Father and son for example. Blood relatives can establish an LLC for free. They can do it at a DATA point. All they need are their identification documents and basic founding capital of €7500.
What are some advantages?
Are you thinking of opening a family business? Not sure it is the right choice for you? Let’s weigh the pros and cons. But the decision basically depends on your family.
One of the biggest advantages of a family-owned business is also its biggest disadvantage. Those are family members, of course. Because, working with relatives often means a higher level of social responsibility. The leaders have to take a long-term approach. And their main goal should be creating a friendly work environment. Why is this so important? Business partners like to work with family-owned businesses. Because such partnerships are a great way of shaping relationships. Close connections certainly help build trust. Of course this is important.
On the other hand, those same familiy ties can also cause friction inside the company. You have to know how to separate your business and personal life. On the other hand, you have to know when to connect them. But not only that. The vision the shareholders are following needs to be clear. Because they need to be on the same page. So, having the same goal(s) is essential. Interested? Ready to start family business in Slovenia, EU? What about after opening company? You and your family members can receive work and resdience permit in Slovenia. So your family can work and live in Slovenia, EU.
The process of opening a family-owned business
You can establish a family business with us. At a DATA point and free of charge. Family members will need their personal documents. And also a minimal founding capital. Still not sure about opening a family business in Slovenia? Would you like to get some legal advice first? Because we can also help you with all your questions. To find out more about our busines consulting services click here. Just don’t hesitate.