biggest mistake that I can do

Underestimating cashflow

• During the first couple of years, a business is still early stage. If I withdraw money from the company as dividends and do not reinvest the profit, the company will not have all the resources it needs to grow
• If I pay my suppliers late, I gain a temporary cashflow relief, but it will hurt my business’ credibility, so it's not a long-term tactic
• I shouldn't look only at my cashflow: for instance, when one of my local clients has a cashflow problem and goes into insolvency, then the tax agency may claim the money itself directly

Forgetting about things

Various key elements expire, which trigger consequences such as having the company suspended - or pay higher taxes. Social headquarters, administrator’s mandate, revaluation reports, insurance etc. - all these can expire with sometimes disruptive consequences

Expiration is not the only issue

Sometimes, the change of social headquarters in itself may be an issue. For instance, a change in office location has unthought consequences with lost correspondence, the need to change the car’s papers, to renew the company’s authorisations, to announce the Trade Registry etc.

Failing to ensure that all accounting paperwork reflects the reality of operations

For instance, the following case would trigger an alert for the tax inspectors: