
Bootstrappers guide for Denmark - pius
http://stakeventures.com/articles/2006/02/02/bootstrappers-guide-for-denmark
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pmjordan
_Why not be an A/S (or ApS)?_

 _Easy. As a startup you need to have a cool DKK125,000 (USD20,000) upfront in
cash as share capital to be honoured with the ApS label and DKK500,000
(DKK81,000) to be an A/S. Btw. A/S is pronounced “Ahh. Ess.” and not “Ass”,
you would be suprised the amount of foreigners who make that mistake._

 _There are also lots of other annoying paperwork and rules and regulations
and what have you. But the above upfront capital requirement makes it
inaccessible for most bootstrappers._

This disease seems to be widespread across Europe. Austria has an up-front
capital requirement of €37500 for a GmbH (the equivalent of an A/S or limited
liability company), I think Germany requires €10000 in capital, etc. And the
governments are surprised at the small number of startups. Sorry, a
partnership just doesn't cut it.

~~~
gruseom
That just floors me. What a stupid and counterproductive policy.

~~~
mixmax
The idea behind it is that since you are not personally liable in a limited
company there should be some minimum amount of capital always present in the
company, so that potential creditors can get their money. As a potential
creditor you know that in maximise Aps. there is at least DKkr. 125.000 and in
maximise A/S there is always DKkr. 500.000. This amount doesn't have to be in
liquid assets but can take the form of tangible assets too, meaning that any
accountant worth his money will be able to value your PC and you office chair
at DKkr. 125.000 and you have your reserve for an Aps.

This, by the way, also works if you want to start a limited company - get a
registered accountant to value your PC. and office chair at DKkr. 125.000 an
you're good to go. Downside of this approach is that you will be income taxed
for the 125.000.

Silly? Absolutely.

~~~
gruseom
Actually, my initial reaction was that even in Canada we aren't _that_ dumb.
(About business, I mean.)

------
rlm

      Should you even start a business in Denmark?
    
       Why don’t I just start with the conclusion. The honest and maybe controversial to some Danes answer is: Only if you really, really have to!
    

The sad thing is, that it's entirely true. Being from Denmark, I wish the
environment for startups was better, and the rules were simpler.

~~~
mixmax
Agree - I'm from Denmark too.

I find that the biggest problems are that it is hard to find ambitious people,
and that the general level of start-up knowledge is pretty low. Also the
recognition you get from wanting to change the world is pretty non-existent.

That said the programmers and the girls are worldclass :-)

Maybe we should get together and do something about it?

