This is another session that should be neglected in any entrepreneurship support program, especially those aiming to support migrants or refugees.
Often times host countries have very different and in some cases very strict laws governing the taxes and insurance policies applicable to entrepreneurs.
While some may actually be beneficial and conducive to entrepreneurship, they still need to be understood very well by the aspiring entrepreneur. Therefore, it is important for this session to be carried out by a specialist who is able to really delve deeply into the terminology, legal aspects of starting a business and taxation laws that are relevant and need to be observed by entrepreneurs.
It is important for this session to take place in the later stage of the program so as not to overwhelm participants with the complicated information that is provided.
Participants should be confident in their business idea, its feasibility and viability, and be ready to take concrete steps in response to the information received in this session. This could include reaching out to a legal/tax adviser, approaching the tax authorities and starting to fill out relevant paperwork or at least knowing what laws would apply to their line of business.
This session should be implemented by a professional tax and legal adviser who can give the participants and all encompassing insight into the tax and legal considerations that they have to consider when starting a business in their home country. Ideally, this adviser would have some insight on the additional challenges of starting a business as a foreign national and also be able to offer guidance and resources when it comes to the filling out of forms and navigating the bureaucratic system of the host community.
The expected outcomes of this session are that participants are able to take concrete next steps when it comes to the legal registration of their business, the relevant tax legislation that applies to them as well as turn to relevant stakeholders if they need more guidance or support.