Foto: Annabelle Düchting
Starting a Business in Frankfurt
A City Investing in Innovation
Frankfurt is not only a leading financial and business centre, but also an attractive place for founders and start-ups. The city offers a strong start-up ecosystem, close connections between key stakeholders, and support at every stage of business development.
Through the Frankfurter Gründerfonds, start-ups can access loans of up to €100,000, combined with expert coaching and advice. The Frankfurter Gründerpreis (Frankfurt Business Awards) provides visibility and recognition, rewarding outstanding young businesses in three categories: Local Founder, Innovation Founder and Impact Founder.
From 2027, Frankfurt will strengthen its infrastructure with two new start-up hubs: one hub near Frankfurt Ostbahnhof and the Games Hub Frankfurt at Futury Startup Space. These locations will offer office space, consultancy services, events and valuable connections to businesses, investors and innovation partners.
Originally from Afghanistan, Shabana Maliki runs a Frankfurt-based life and business coaching practice for women from migrant backgrounds as well as for companies. She received the Frankfurter Gründerpreis in 2023:
“To me, Frankfurt is a city of opportunity. As an entrepreneur, I especially appreciate its openness, diverse networks, and supportive community. Here, I have experienced how important it is to be seen and recognized for my vision. Frankfurt inspires me to keep pursuing my path, gain visibility, and make my dreams come true one step at a time.”
Frankfurt creates the conditions for ideas to grow into successful businesses. Our Competence Centre for Business Start-ups supports founders every step of the way.
Wirtschaftsförderung Frankfurt -
Frankfurt Economic Development GmbH
Hanauer Landstrasse 126-128
60314 Frankfurt am Main
frankfurt-business.net, #wifoeffm
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Banking, finances, and taxes
Even though we live in a global digital world, each country has its own way of doing things when it comes to banking and finance. It‘s important for newcomers to get to grips with the German system.
Direct Banking
Direct banks represent a welcome, consumer-oriented trend in the German banking sector.
Direct Debits, Checks and Balances
Most payments in Germany are made via direct debit from one account to another.
Regular Payments
If you’re making regular payments for things like utilities, insurance, rent, phone bills, tax payments, some membership fees or magazine subscriptions, it’s a good idea to set up a standing order.
Giro Card
Once you’ve opened your Giro account, you’ll be sent a bank card in the post.
Taxes
As is the case in most countries, the German tax system is complex.
Retirement, Unemployment and Nursing Care Insurance
As a general rule, social welfare contributions are split pretty evenly between employer and employee.