Keep salary low until the company generates revenue

Context

  • I quit my job to start an AS company: Calvet IT.
  • I knew the company wouldn't generate revenue initially due to the development stage.
  • I had savings to inject into the company to cover my salary.

Mistake

I initially paid myself a salary at 7.1 G to maximize pension benefits.
However, employer and employee taxes significantly reduced my savings with each salary payment.

Lesson learned

Keep salary low until the company generates revenue.

I quickly switched to a lower salary.
This increases the time I can wait until the company generates revenues.

A minimum salary is still needed: * Being an employee allows access to company insurance and reduces VAT compared to private insurance. * The salary must be higher than the monthly benefits like phone and travel insurance provided by the company.

Drawbacks:
Pension benefits and insurance claims are now based on a lower salary.

If you have lost your job instead of quitting you should apply for dagpenger and apply to keep the benefits while establishing your own company.
You will have to search for a job even if it is a waste of time during this process.
You could then keep the benefits for 12 months while working for the company.
Source: Ønsker du å etablere egen bedrift?

Unfortunately, it doesn't apply to someone quitting their job to start their own company.
Du kan ikke selv være ansvarlig for at du har mistet jobben de siste 6 månedene.

Suggestion for the government: Encourage the creation of small companies by removing this restriction.