Starting your own business is a big and exciting step, but many entrepreneurs make mistakes at the beginning that can cost them dearly later. Administrative procedures often seem simple, but when a mistake is made in one segment, the consequences can be felt months or even years after registration.

Here are the most common mistakes and how to avoid them:

1. Insufficient market research.
   Many company founders focus only on paperwork and administration, and forget to analyze the market beforehand. Without a clear picture of the competition, target group and potential income, it is difficult to make the right decisions.

2. Wrong choice of legal form.
   Should you open a limited liability company, an entrepreneurial shop or some other form? Many choose the option that seems simpler to them at the time, but later realize that they have higher taxes or restrictions on doing business. Professional advice at the beginning can prevent long-term problems.

3. Incomplete or incorrect documentation.
   The establishment procedure requires a number of documents - from personal documents to the founding act and applications to the Tax Administration. One mistake or shortcoming can mean starting the whole process back to the beginning.

4. Ignorance of tax obligations.
   Many new entrepreneurs are not aware of the deadlines and obligations related to taxes, contributions and reports. This often results in delays and fines.

5. Delay in registering employees.
   If you employ workers, you must register them on time and keep proper records. Delay leads to fines and unnecessary problems with inspections.

Starting a company in Montenegro can be simple and fast, but only if everything is done correctly at the beginning. With the help of experts, these mistakes can be completely avoided, and you can calmly dedicate yourself to the development of your business.