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Business startup advisors guide entrepreneurs through the complex stages involved in getting a business off the ground. Setting up your own business is both stimulating and confusing. A business startup advisor is the perfect partner who can ensure a smooth transition. Who can become a business startup advisor? Do you have to go to a business school? Let's take a closer look at this career of the future, at this time when the number of people setting up or taking over businesses is growing all the time.

What is a business startup advisor?

A business startup advisor assists entrepreneurs with the sometimes complex procedures involved in setting up a business. They then become a key player in a business’s development, helping the business owners progress calmly through all the stages of business creation.

A feasibility study is an essential first step. It is helpful to have an external person to guide you towards the most appropriate questions. It is rarely easy to keep track of all the administrative and legal procedures, such as choice of status, financial partners, business plan, forward plan, applications for grants and subsidies, etc. Setting up a business with an advisor guarantees a serious and sustainable launch.

What are the missions of a business startup advisor?

The input from the business startup advisor lays a solid foundation for the development and sustainability of a business. The first meeting provides an opportunity to define the project and present the services and roles of the business startup advisor to the project owner. One of the services offered by a business startup advisor is a skills assessment to assess the project owner's knowledge. It also ensures that the business is economically viable (equipment, networks, etc.) and helps analyse the market and the competition.

These assessments personalise the business creation process, enable the client to choose their legal status and above all, help to develop a global strategy and business plan. This document includes market research studies, budget estimates and sales projections. It enables the project team to communicate with the partners and other corporate finance organisations that will be involved with the new business (banks, aid and subsidy organisations, economic development agencies, chambers of commerce and industry, etc.).

The advisor can handle the steps involved in registering the business’s legal status. But they may also decide to refer the entrepreneur to a chartered accountant who can help with tax and financial issues.

What professional skills and qualities does a business startup advisor need?

A business startup advisor must have sound professional skills. A business startup advisor is a partner on whom the project owner can rely, and to whom they can delegate tasks which they are not sufficiently qualified to do themselves. Their skills include:

● Rigour and expertise in taxation, accounting, business management and business law.

● Commercial and diplomatic skills, i.e. the ability to listen and rephrase what they hear to ensure they fully understand the entrepreneur’s desires and needs. This is essential if they are to give advice to a project owner.

● Autonomy and their own experience of business creation if they are self-employed.

● Teaching skills and the ability to explain in concise terms, both when helping with the drafting of documents and when communicating with the project owner. It is very reassuring for the entrepreneur to talk to someone who can describe their ideas in clear terms.

● Good interpersonal skills for dealing with all potential contacts and networks.

● An open mindset, so they can approach entrepreneurial projects with complete objectivity and provide customised support during the business creation process.

What training do you need to become a business startup advisor?

How do you actually support startups? What level of education is required? A minimum of 5 years higher education is required to be a serious player in the field. The most recommended routes are:

● Management training in a business school. The Grande École programme offered by these schools after a preparatory course is an excellent entree.

● A master’s degree in accounting, control and auditing (ACA) for careers in chartered accountancy.

● Accountancy training with the Higher Diploma in Accounting and Management (DSCG), which takes 2 years after the Diploma in Accounting and Finance (DCG).

● A master’s degree in corporate finance, to acquire all the techniques and skills required to implement a corporate investment and finance strategy.

What employment status can business startup advisors have?

Working as a freelancer

Freelance or independent business startup advisors usually choose the "auto-entrepreneur" system (in France). This option offers attractive tax benefits and streamlined accounting. However, they must find clients on their own, and may choose to subcontract or delegate tasks to other professionals (chartered accountant, lawyer, etc.). A business startup advisor can also remain an independent contractor, with their administrative and tax procedures handled by a wage portage company. They receive a salary while retaining their autonomy.

Working as an employee

A business startup advisor can be a regular employee, working either on site or remotely. Many private sector companies and organisations offer this role. These are business startup consultancy or accounting firms.. In addition to these structures, some act as business incubators, helping entrepreneurs to test and launch their businesses. Lastly, the public sector offers positions in chambers of commerce (CCI) and chambers of trade (CMA).

How much does a business startup advisor earn?

An advisor's earnings depend on their location and experience. The bigger and better located the city, the higher the salary. Services are usually more expensive in big cities like Paris, so this has a direct impact on earnings. Overall,in France, beginners earn 21,540 euros a year, and the most experienced 156,000 euros a year.

What are the career prospects of a business startup advisor?

Working in a firm and with experience, a business startup advisor can become a team leader. Their management skills are called on when dealing with their staff and when running training courses for clients (job seekers via the Pôle Emploi employment service, entrepreneurs, human resource departments, etc.). Clients may need advice on how to develop their client portfolio, or other training to help them build their business over the long term.

In a nutshell, a business startup advisor is a fascinating career for anyone who enjoys working in areas such as corporate strategy, taxation, accounting and business law. To acquire all the skills required for this essential support role for entrepreneurial projects, it is advisable to attend a Grande Ecole.