We evolve

We promote new forms of teamwork

As we have been informing you, IL COWORKING & LEGAL SERVICES was born with a vocation that goes far beyond providing a series of modern and comfortable spaces to facilitate your professional performance, but we also consider it crucial to provide you with a comprehensive range of added services, designed to enrich your business operations. A good example of this type of services can be found in our specific legal support strategy for SMEs, entrepreneurs and startups.

Furthermore, one of the main attractions of our coworking space is the possibility of generating new contacts for future collaborations. Indeed, working from a coworking space means having access to resources and opportunities that you would not have at home or in a conventional office. Having professionals with different abilities and specialties nearby, within a positive collaborative environment, undoubtedly facilitates the creation of connections and the possibility of sharing ideas and concerns.

Our wish is that you can share a workplace with other professionals, promoting interaction with other entrepreneurs who are exposed to the same challenges as you. In short, we want to promote a new form of teamwork, where IL Coworking constitutes itself as another member of said team.

There is no doubt that one of the advantages of working as a team is that we improve efficiency, multiplying motivation. Additionally, working as a team allows for the sharing of knowledge and skills, which can result in more innovative and creative solutions. To achieve this objective, we consider it essential to put the best communication channels at your disposal, creating team synergy.

For this reason, we have committed to promoting our intervention in a series of forums where we can provide you with appropriate solutions and alternatives to make your projects a reality, through the exchange of knowledge. That is the reason why we have an active participation in the radio program “Businesses of flesh and blood”, on Radio Intereconomía, a leading program of the entrepreneurial and startup ecosystem. The objective is to provide you with all the keys and tools to overcome any obstacle and succeed with your company. It is a program where we talk about financing, marketing, digitalization, taxes, sales, innovation and, above all, inspiration.

Our goal is to continue evolving to provide you with new support tools and to consider us members of your team, creating new synergies and providing you with instruments that make it easier for you to successfully meet your goals.

BUSINESS STRATEGY

Practical tips to boost the profitability of an entrepreneurial business

Taking into account the current socioeconomic situation and the complex geopolitical climate that we are witnessing internationally, it is important to have a series of tools that facilitate business growth and increase profitability, especially for entrepreneurs who take on added challenges in a particularly competitive.

In this sense, there are a series of practical tips to promote business activity and which we can summarize as follows:

• Design a roadmap
  Although it may seem obvious, one of the guarantees of business success comes from proper planning. Therefore, establishing a roadmap will be essential to set clear and measurable business objectives over time, thus directly impacting the growth or profitability of the company.
  A crucial element of this planning is the definition of how potential clients will be reached and how those who already have loyalty will continue to be retained, thus highlighting a differential proposal of the venture, all with a realistic and viable goal.
• Finance control mechanisms.
  The lack of correct financial management and economic resources is one of the main causes of closure of SMEs and startups. There is no doubt that income and expenses are an integral part of any company's finances. It represents the basis of your success or failure, with its fundamental objective being to maximize income and minimize expenses.
  Accurate knowledge of income and expenses allows you to make informed decisions. For example, by understanding which products or services generate the most revenue, the company can focus its resources on more profitable areas and establish corrective mechanisms.
• Search for new additional income.
  Although each company has an established nature of business, be it goods, products or services, it does not hurt to find new opportunities that can increase income. The commitment to diversification makes it possible not to concentrate all efforts or resources on a single option, but on several to diversify the risk and reduce it, increasing the chances of success.

Thanks to this measure, the variety of products or services offered can be increased with the aim of reducing risks or increasing profits. This can be done horizontally (within the company) or vertically (acquiring those from suppliers or customers).

• Continuous market evaluation.
  A continuous evaluation of a business is an objective and unbiased analysis that is designed to provide a clear picture of where it is, where it is going and what factors are impeding or promoting growth and results.

It is essential to be up to date with market dynamics, for example, knowing if a product or service is at a competitive price, if there is an oversupply and many other items that can make a difference to customers. Likewise, special vigilance over supplier policy and associated costs is very timely.

• Prioritize customer service.
  Relationship with customers can be the best strategy to increase revenue. Having a recurring consumer is much more profitable than attracting new ones who do not make a repurchase. A satisfied customer can be the best promotion channel. Therefore, tactics such as satisfaction surveys can be useful to understand customer needs. This information is of high value in the growth plans of a small business.

STARTUP

Learn about the financing avenues that are at your disposal

We can summarize the financing options that a startup can access into three, each of which can be provided by different actors:

Bootstrapping

This method consists of using the founders' own capital and that generated by the business to finance the startup. Generally, this is the first plan of every entrepreneur, for three reasons:

• It does not dilute the participation of the founders, since no external investors enter and are guaranteed a participation.
• The decision-making capacity of the company's owners is maintained and they continue to define the strategy.
• The startup is more attractive to investors as the founders are shown to be capital efficient.

Equity or shares

The second type of financing that entrepreneurs can obtain for a startup is 'equity funding', obtaining capital through the sale of shares or stakes. This would be the formula followed by the so-called 'business angels', investors who, in addition to money, provide additional value as advisors within the startup. Venture capital investors, that is, investment funds, would also be included in this formula. It should be noted that here there is a dilution of the founders' participation. The advantages of this option are the following:

• Access higher capital than the founders of the company may have available.
• Obtain mentoring from experts in the sector, as well as connection with people linked to the world of entrepreneurship.

Debt

The third option to finance a startup involves obtaining debt, that is, receiving capital that entrepreneurs agree to return, either to a bank or a credit company. Now, when is debt a good option?

• When you need to obtain financing in a short time.
• When funds are needed to invest in something very specific, such as the purchase of material.
• When entrepreneurs want to maintain 100% control of the shares, but need external investment.

Other sources of financing

In addition to the most popular options, there are other more sophisticated financing solutions that combine some of the characteristics of the previous ones, such as 'venture debt', 'growth loans' and 'capital lines':

• Venture debt'. One of the alternative financing methods to the previous ones is 'venture debt' or risk debt. In essence, these are loans in which debt is combined with the sale of shares. The objective is that the startup's shareholding is not diluted and that the founders do not lose representation significantly.
• Growth loans'. Growth loans are loans for startup growth that are offered in advanced phases to support startups in their growth and international expansion into new markets.
• 'Capital lines'. This financing instrument allows the venture capital fund to increase liquidity and make the investment process in startups more agile.

TECHNOLOGICAL INNOVATION

The innovation processes of startups compared to traditional companies

Innovation is a key factor for the success of any company. However, not all organizations innovate in the same way or with the same results. Startups are emerging companies that seek to create new products, services or business models that solve customer problems or needs in a new and disruptive way, with a solid foundation in innovation and technology. Traditional companies, for their part, are those that have been in the market longer and that have a more consolidated and stable structure and culture. Their innovation process is usually more linear and planned.

Either way, startups play a fundamental role in technological innovation due to their ability to create and adopt new technologies quickly and efficiently.

Types of technological innovation

• Product innovation: refers to the creation of new products or significant improvements in existing ones.
• Process innovation: is the improvement of production processes, which can reduce costs and increase efficiency.
• Organizational innovation: refers to the implementation of new business structures, practices and strategies that allow greater flexibility and adaptability to change.
• Marketing innovation: refers to the use of new marketing strategies and distribution channels to reach new markets and increase the customer base.

Characteristics of technological innovation

• Creative: involves the generation of new ideas and innovative solutions.
• Risky: involves a risk by investing resources in projects that may or may not be successful.
• Iterative: involves constant improvement and evolution of ideas and products.
• Disruptive: it can break with traditional business models and generate significant changes in the market.

The technological innovation process consists of a series of stages necessary to implement improvements or develop a new process, product or service.

The first is research, where existing technologies are integrated in a creative and innovative way or actually develop something totally new. The development phase would follow, understanding that it is a testing stage of the product and service, after which the implementation phase would be carried out, consisting of a set of activities associated with introducing the product or service to the market. This phase involves the first operational use of a new product, service or process by society.

Finally, we would enter the production phase, in which the best way to deliver the created solution to the end customer, with efficiency and quality, is defined. Production involves manufacturing, production control, logistics and distribution.

This phase must also be complemented with an adequate marketing strategy, with a correct evaluation of the market, the distribution strategy, promotion and measurement of consumer behavior.

The innovation processes of startups versus traditional companies

• The approach: Startups focus on the customer and their problems, while traditional companies focus on the product and its features.
• Speed: startups innovate faster and with fewer resources, while traditional companies innovate slower and with more investment.
• The risk: startups take on more risk and uncertainty, while traditional companies seek more security and control.
• The culture: startups foster a culture of learning, collaboration and adaptation to change, while traditional companies have a more hierarchical, bureaucratic and resistant to change culture.

The 2023 Income campaign has started

Since April 3, all the help services made available by the Tax Agency are now available to review its draft, modify it and, where appropriate, present your 2023 Income Tax return online through Renta WEB or by APP. In any case, remember that at Acountax Madrid we are at your disposal to advise and guide you on everything related to the processing of your income tax return this year.

The Tax Agency has also recalled that, after the navigation improvements incorporated in the last campaign in the Renta WEB aid program, this year adaptations have been made to facilitate the incorporation of specific cases, in the case of garages and storage rooms (accessory properties). , and navigation to modify a declaration, already submitted, has been simplified, so that the taxpayer will simply have to modify the corresponding amounts and the system will automatically carry out the rest of the necessary actions. The Tax Agency's APP also has improvements to continue facilitating the presentation of the declaration also in this way, such as modifying the payment method and its installments.

In turn, taxpayers will have this year an expanded content version of the Virtual Income Assistant, which was launched in the previous campaign to resolve their doubts. Likewise, in the Income Campaign 2023 space on the website, a series of explanatory guides have been published with the most notable developments for this campaign.

This year, the presentation of 23,281,000 declarations is expected, 1.2% more, of which 14,614,000, almost 63%, are expected to give the right to a refund for an estimated global amount of 11,650 million euros.

Who is not required to declare

In general terms, taxpayers with income exclusively from work up to an amount of 22,000 euros per year are not obligated. However, this limit is reduced if the income comes from more than one payer (with exceptions), or also when the payer is not obliged to withhold and when the income is subject to a fixed withholding rate. In such cases, the limit has been raised to 15,000 euros per year. Both limits remain valid to not declare if the taxpayer has, instead, or in addition, the following full income:

• Dividends, interest and capital gains subject to withholding with a joint limit of 1,600 euros.
• Imputed real estate income, full income from movable capital not subject to withholding derived from Treasury bills and subsidies for the acquisition of officially protected or appraised-price housing, and other capital gains derived from public aid, with a joint limit of 1,000 euros.
  As in the previous year, taxpayers who have income from work, capital and economic activities, as well as capital gains (subsidies, prizes and others), will not be required to comply with the joint limit of 1,000 euros, along with capital losses of less than 500 euros. euros.

On the other hand, it is remembered that the beneficiaries of the Minimum Living Income must submit the declaration, in accordance with the regulations established by the IMV, as well as self-employed workers registered with the RETA or the Special Regime for Sea Workers. , in accordance with the regulations that approve the new contribution regime for the self-employed.

Beware of cybercriminals: security notice for Income 2023

Cybercriminals can try to deceive you by impersonating the Tax Agency through fraudulent emails (phishing) or SMS (smishing). In this sense, it is important to emphasize that the Tax Agency:

• It does not request confidential, financial or personal information, account numbers, or card numbers by email or SMS, nor does it attach attachments with invoice information or other types of data.
• Never make refunds to credit or debit cards, not even using BIZUM.
• He never charges any amount for the services he provides
• If you have requested an appointment, the Tax Agency can contact you by telephone. In the case of the Income Campaign, the telephone number from which you can call is 810520052 (or from 917276222 if you have provided a foreign telephone number).

TODAY COMMERCIAL

The importance of depositing accounts in the Commercial Registry

The General Directorate of Legal Security and Public Faith reminds us in a recent resolution that the approved annual accounts corresponding to a fiscal year cannot be deposited if those for previous fiscal years are not previously deposited.

Indeed, there are a series of deadlines that are unavoidable for the businessman, and one of them is the presentation of the annual accounts relating to the previous year, in this case, the year 2023.

The Capital Companies Law and the Commercial Code establish the obligation of commercial companies to deposit their annual accounts in the Commercial Registry. The objective of this regulation is to guarantee business transparency and protect the interests of third parties.

Therefore, every entrepreneur must know that, as a businessman or administrator of a company, he has the duty to present the annual accounts within the regulatory period, having a maximum period of three months, from the accounting closing, to prepare them. and six months to approve them, to subsequently register them in the Commercial Registry of their province.

In this framework, we must not ignore the key figure that the Commercial Registry plays in the control and supervision of the businessman's activity.

Taking into account these considerations, it is also important to highlight that failure to comply with these obligations has a series of consequences that directly affect the commercial company.

One of the effects derived from not depositing duly approved accounts with the Commercial Registry is the consequent closure of the company's registration page, a circumstance that will cause no act or document presented subsequently to be registered. In addition to the registry closure, failure to comply with this duty to deposit accounts entails a specific sanctioning regime.

The TGUE confirms that the reputation of a brand is acquired and lost progressively

The General Court of the European Union (TGEU) has ruled that a brand's reputation is acquired and lost progressively, underscoring the dynamic nature of brand value and the challenges associated with its maintenance and protection in a changing market. .

The General Court's ruling provides valuable clarity on how the reputation of a trademark should be assessed and understood in the European legal context, emphasizing the need for a proactive and adaptive approach to trademark management.

The ruling centers on the principle that brand recognition and influence are not permanent or automatic qualities. And it emphasizes that these attributes depend largely on the brand's continued relevance and presence in the market, as well as its ability to stay connected with its consumers.

This case comes from a well-known brand that enjoys a reputation in a substantial part of the territory of the Union, in particular, in France, with respect to perfumery products and perfumes; and the Court holds that the reputation of a trademark should be considered a variable attribute that can be strengthened or weakened depending on a series of factors, including marketing strategies, the emergence of new technologies, changes in consumer preferences and market competition. market.

The Court also highlighted that maintaining a trademark's reputation requires continuous efforts by the trademark owner, including investments in advertising and promotions, to ensure that the trademark remains visible and relevant to consumers. Furthermore, it indicates that the legal protection of a renowned trademark is not unconditional and can be reviewed if the trademark no longer meets the reputation criteria.

This decision is a crucial reminder to companies about the importance of active brand management and the need to adapt to evolving market environments. It also establishes a legal precedent that could influence future litigation related to trademark protection in Europe, especially in a dominant digital context.

CURRENTLY WORKING

Termination of the contract if the trial period is not exceeded

The agreement by which a trial period is included in a contract must be formalized in writing. However, unlike dismissal, communication of the termination of the employment contract due to failure to pass the trial period can be made verbally. For its part, the termination of the employment contract during the trial period can be carried out without cause, so that the company is not required to justify the reasons why said period has not been exceeded.

In short, the termination of a worker's employment contract during the trial period would be valid, even if the reasons why it is considered that the worker has not passed it are not justified. Now, although there is no obligation to communicate in writing the failure to pass the trial period or to justify the reasons why it occurred, it is recommended that they do both.

In this sense, communicating the termination of the contract in writing allows you to record when the termination of the employment contract occurred and the cause that motivated it, which will be very useful in the hypothetical case that the worker filed a lawsuit.

The detailed description of the reasons for not passing the trial period will reduce the risks of the worker claiming the annulment of the dismissal due to discrimination.

Furthermore, terminations due to failure to pass the trial period can be counted to determine the existence of a collective dismissal (remember that a dismissal will be collective if, in a period of 90 days, it affects 10 workers in a company with less than 100; to 10% in companies with between 100 and 300 workers and 30 workers in companies with more than 300).
However, without identifying the specific reasons for not passing the trial period, you will be justifying that this termination is due to reasons that have nothing to do with a collective dismissal.

If you work remotely, where can you file a claim to resolve labor disputes?

In the case of a worker who provides services in different places in the national territory, it may be difficult to determine which court is competent to resolve conflicts between the employee and the company. The general rule is the following:

• The claim must be filed in the courts of the place of provision of services (the workplace to which the worker is assigned or any other center where services are provided) or the registered office of the company.
• When the worker provides services in different locations (for example, a salesperson who travels throughout Spain on a regular basis to visit clients), they may also choose the court that corresponds to their domicile.

Now, it should be noted that teleworking adds complexity to these general rules. Can the address where remote work is provided be considered a “work center” for the purposes of determining whether the courts of that territory also have jurisdiction in disputes between the company and the worker? In this case, it will be necessary to determine whether teleworking is regular (if it is provided at least 30% of the working day for a period of three months) or sporadic.

If teleworking is regular, the general rules apply (the courts of the company's registered office or the address where the work center to which the teleworker is assigned will be located) will be competent. Now, if the teleworking agreement expressly says that the courts of the worker's domicile will be competent, then these will also be competent.

If teleworking is sporadic, the worker may choose between the place where he or she has his or her domicile, the place of work to which he or she is assigned, or the place where the registered office of his or her company is located.

We celebrate Entrepreneurship Day with the broadcast of a radio program from the headquarters of IL Coworking & Legal Services

Coinciding with Entrepreneurship Day, this month we have had the honor of offering our facilities to Radio Intereconomía for the broadcast of the radio program “Meat and Bone Businesses”, directed by Mariló Sánchez Fuentes, a leading program that empowers and exalts the figure of the entrepreneur and the businessman, as the main source of wealth for a country. On this occasion, our founder, Manuel Lamela, spoke and praised the support role we play in different areas, such as legal advice, with the intention of contributing to the success of the businessman in those fields where he may be most underserved.

It is important to emphasize that the Vice Minister of Economy and Employment of the Community of Madrid, Daniel Rodriguez, the Director of Startup Programs of the Bankinter Innovation Foundation, José Carlos Huerta, as well as the President of W Startup Community, Teresa Alarcos, the co-founder of COO Zityhub, Pablo de la Hoz, and the startup financing expert, Miguel Moneo.

With this participation of IL Coworking & Legal Services A series of successive interventions begins in this radio program, with the aim of making known the different tools that entrepreneurs have to overcome obstacles and continue growing.