How Is It In Austria – Thanks To Denise Vorraber

how is it
how is it
  • Denise Vorraber – Austria – FEMINDS

Welcome to our “How Is It? Worldwide Edition” concept. Our country today is Austria. Our guest is Denise Vorraber, a successful business person. In this interview, you will learn what awaits an entrepreneur in Austria thanks to Mrs. Vorraber.

Let’s learn about How Is It in Austrian entrepreneurship!

  • Could you briefly tell us about yourself?

Hi, I’m Denise, and I am a renowned Pitch Trainer in Austria. At the age of 23, a lifelong dream of mine got fulfilled, I got recognized by the Forbes Magazine as one of the “Forbes 30 under 30” most successful young leaders in the DACH region.

I just love leading people and inspiring them. This is also the reason why I got more involved as a speaker on the topics of entrepreneurship, and workaholic’s health. Through my speaking career I got invited on many international stages and I could inspire over 10.000s of people already.

I am also the Co-Founder of FEMINDS, a female-network to level up your business and personal self.

  • Could you briefly tell us about your initiative?

I want to talk about my two initiatives. Me as a speaker/pitch trainer and me as a co-founder of FEMINDS.

I am a very passionate speaker and with my keynotes about entrepreneurship my main message always is “entrepreneurship is possible for anyone, you just have to believe in yourself”. As a pitch trainer my main passion is, to show people how to rock the stage. It gives me so much joy and happiness when my clients/startups are confident on stage and when they present their idea coherently.

  • What does the definition of Entrepreneurship in your country mean?

It’s on its way to get socially accepted. It isn’t on everyone’s minds yet. But we are getting there. There are a lot of new initiatives which are focusing on bringing entrepreneurship into schools and university.

On the positive side, there are a lot of ecosystems and networks where they help each other.

And we also have a LOT of public funding available.

  • How is it! What are the easy and difficult aspects of being an entrepreneur in your country?

The easy part: If you don’t need to make to many early investments and are a sole-preneur, you can literally start your company online.

The difficult part: We have so much bureaucracy in Austria. To find your way through that jungle, you either have to do lots of research or hire someone, but that can become rather expensive.

  • How is it! What is the path an entrepreneur must follow in order to establish his/her company?

First of all, get as much feedback as possible. Make a prototyp and go out there and ask strangers, get feedback from your target group etc. Getting feedback and evolving your product is so important.

The next step is, to network, network, network. I cant stress this enough. Everything good happens when you have an amazing network.

Last but not least, there is no shortcut for hard work. Believe in yourself and work work work. Often the key to success is to just persevere.

  • Is there a state support for entrepreneurs in your country, and if so, what are the conditions?

Yes, there are a lot of public fundings available. There is always a specific type that they are funding. For example, if you are in certain phase of your startup, or if you develop a certain product.

 

  • What are the tax obligations an entrepreneur will face? How is it in your country?

Everyone has to pay taxes. In Austria, it is quite a bit. It depends on which type of legal form you chose, but for example we need to pay income tax, social security etc.

  • Can people from abroad undertake such start-up projects in your country?

Yes, it is surely easier for people who live in the EU, but it should also work if you are based outside of the EU. I just heard it is a bit complicated, but it’s manageable. What I would recommend, if you want to start a company in Austria, get a mentor or someone who also did it, and ask them all the questions.

 

  • How much money does the entrepreneur earn on average? How is it in your country?

It depends of course, on the type of company you start. But there is an unspoken rule in Austria, that you don’t really earn much in the first three years, and after that your company usually grows.

But I would say, the average is usually 1000 netto in the first year.

how is it
how is it
  • What are the conditions for receiving investments in your country?

With investments, we need to differentiate between different phases aswell:

  • If you just started your Company, and you only have your idea and no product or revenue. Then the only place where you can get funding is FFF – Family, Friends and Fools.
  • The next stage is, when you have a prototyp and need money to make it into a market-ready product, you can apply to fundings and you could use reward-based-crowdfunding (like Kickstarter).
  • If your product is on the market, you have your first customers, than its time for Business Angels, Investors and Lending-Based or Equity-Based Crowdfunding to bring you to the next stage of your company.
  • Lastly, if you are scaling really quickly, gaining a lot of new customers, then the next step is VC Funding.

 

  • Any advice you want to give to our readers for our How is It – Worldwide Edition Concept?

There are so many ups and downs in an entrepreneurs life, that my only advice is: just stick to it. Always believe in yourself and persevere, that is literally it.

Thank you very much to Denise Vorraber for this interview and telling us about Austria. We wish you a very successful business life. 🤗

You can access FEMINDS’ website here.

You can access FEMINDS’ Linkedin account here.

You can access Denise Vorraber’s Linkedin account here.

 

Other “How Is It? – Worldwide Edition” interviews

 

How Is It In Australia Thanks To Marc Raaz

How Is It In Bosnia and Herzegovina Thanks To Edin Halilovic

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