UNIVERSIDAD MILITAR NUEVA GRANADA

FINANCIAL ADMINISTRATION
ACTIVITY N° 3

GROUP N° 4

MEMBERS
Mariem Amanda Álvarez Martínez Cód. 7303370
Diana María Mendivelso Bello Cód. 7303316
Diego Toro Ramírez Cód. 7303326
Oscar Eduardo Vera Beltrán Cód. 7303610

CAJICA CUNDINAMARCA
2018
 GENERATION OF COMPANY IN COLOMBIA

In recent years in our country has been markedly reduced the registration procedures that are
needed to set up a company, there are also different institutions and entities that not only encourage
the creation of a company, but accompanying the process providing technical advice as well as
administration and financing; All this has allowed and encouraged many Colombians to create
businesses and microenterprises, which contributes to the development of the country. Tools such
as the CAE in Bogota allows you to carry out procedures in one place and without intermediaries.
Portals such as WWW.crearempresa.com.co allow consulting all the requirements that entities
request to create a company, as well as the documents required for the respective registration in
the Chamber of Commerce. The national government also seeks to encourage and encourage the
creation of companies to contribute to the development of the country in areas such as agriculture,
technology, tourism, among others.

It is important that people who plan to start a project receive an impulse that motivates them to
take their ideas to reality, turning it into a sustainable and profitable business, for which there are
entities, networks and associations specialized in providing this service. Among the entities are:

NATIONAL GUARANTEES FUND: Facilitates credit access to natural and legal persons, who
have viable projects and that present insufficient guarantees in the opinion of financial
intermediaries.

INSTITUTE OF INDUSTRIAL FURTHERANCE: offers credit counseling for entrepreneurs,

micro, small, medium and large companies; It also provides guidance on the procedures that must
be followed to access the necessary credits.

FINAMERICA: Offer specialized advice to micro and SMEs about the different financing
alternatives, determines the viability of the credit according to the policies of the entity.

BANCO CAJA SOCIAL: Provides advice to microenterprises, SMEs and large companies on
the financial conditions to access credit lines according to the bank's risk policies.

FINAGRO: Offer advice for the formulation and implementation of projects aimed at the
strengthening and growth of the agricultural sector, providing lines of credit with furthernace
interests. Its intermediary entity for this management is Banco Agrario.

MINISTRY OF COMMERCE, INDUSTRY AND TOURISM: It offers advice and training to

micro entrepreneurs and entrepreneurs of SMEs in the development of business culture, their
services are offered through programs such as the week of the entrepreneur and the exporter, the
sponsor plan, young entrepreneurs, Carces and the regional councils of support for SMEs.
PROEXPORT: Provides support and comprehensive advice to national entrepreneurs in their
international marketing activities. Its action focuses on the identification of market opportunities,
design of market penetration strategies, internationalization of companies and support in the design
of action plans to enter international markets.

BANCOLDEX: Finances entrepreneurs linked to the Colombian export sector through the
following modalities: Working capital, promotion activities, investment in fixed and deferred
assets, leasing, creation, acquisition and capitalization of companies, consolidation of liabilities,
Mipymes guarantees.

EMPRENDER FUND: is a fund created by the national government attached to the SENA, seeks
to finance business initiatives projected by students, apprentices, practitioners, university students
and professionals; This is because the opportunities to create a company of a person who is in the
process of training or who is finishing his studies is more limited. Web Page
http://www.fondoemprender.com/SitePages/Home.aspx

TECNNOVA: manages knowledge in science, technology and innovation among universities,

companies and the State. It connects the offer of research and knowledge that arises from the
academy with the demand of the business sector. Web page: web: http://tecnnova.org/

INNPULSA: It is the government institution that supports and promotes business initiatives that can
grow rapidly, that are profitable and sustainable. They focus on detecting and overcoming the obstacles
that impede the growth of companies, on working the mental barriers that hinder the creative process and
on encouraging the development of companies in the regions. Web page: innpulsacolombia.com

CONNECT BOGOTÁ: is a network of companies, organizations and universities that work to

contribute to the development of Bogotá and turn it into a leading city in science, technology and
innovation. Website: connectbogota.org

DIGITAL COLOMBIA: It is an organization made up of universities, companies and public

institutions dedicated to the promotion of the use of ICTs in the country. TIC. Website:
colombiadigital.net

CREAME: It offers entrepreneurship programs and models for the incorporation of companies in
the global financial and commercial market. CREAME operates in 80 municipalities in 19
departments of Colombia. Website: creame.com.co

COLCIENCIAS: is the entity that promotes public policies to promote science, technology and
innovation in Colombia. Website: colciencias.gov.co

These are some of the many organizations and entities that support entrepreneurship and creativity
in order to create profitable and sustainable businesses in each of the regions of the country. These
entrepreneurs not only have the possibility of obtaining the help of the aforementioned entities,
but also access to loans to finance these companies. Other important guidelines that must be known
to create a company is to know what kind of companies can be created in our country, to start with
the procedures to legally establish business.

In our country there are different legal forms to create a company. Once the person or persons are
clear about the type of activity in which they will carry out their business, they should continue
with what type of company they should create according to the number of partners involved in the
project. All these companies are regulated by the Colombian commercial code.

According to the Chamber of Commerce, people who want to place their business individually
have 3 options:

NATURAL PERSON MERCHANT: is a person who regularly or professionally carries out

some activities that are considered as commercial. This natural person will respond to the
obligations arising from business with all their personal and family assets. To be constituted the
person must register in the Unique Tax Registry (RUT) and make their inscription in the
commercial registration of the corresponding chamber of commerce of their city or department
and submit the form of the Single Business Registry (RUE), the additional registration with other
entities and the inscription in the RUT.

UNIPERSONAL COMPANY: has legal personality independent of who creates it. This means
that the natural or legal person allocates a part of their assets for the performance of the business
activity. It is constituted by writing or private document before the Chamber of Commerce or
Notary. The document must contain the name, identity document number, home adress, the
business social reason, address of the company's office, term of duration, statement of the activities
to be performed, form of administration, number of shares of equal nominal value in which the
capital of the company will be divided and the amount of the capital must be known.

SOCIEDADES POR ACCIONES SIMPLIFICADAS (S.A.S): this society does not require
a number of shareholders and allow the unipersonality. They are constituted by private document,
which must be registered with the Chamber of Commerce. This company is not obliged to specify
the corporate purpose and is not required to create a board of directors. The responsibility will be
limited to the contribution of each shareholder.

Creation of the company by two or more people

The other alternative is that the entrepreneur considers establishing a commercial

partnership with other partners, for which he must choose between the 5 modalities that the
Colombian legislation allows.
 Collective society: It is constituted through a public deed between two or more
partners, who will be jointly and severally liable, unlimitedly and subsidiarily, for
their obligations. The management of the company can be managed by the partners
or even delegated to third parties. The law does not represent the percentage of the
capital to be contributed at the time of its constitution. The company name is formed
with the name of one of the partners followed by the expressions "and company",
"brothers" or " children".
 Anonymous society (S.A.S): It is constituted through a public deed between five or
more shareholders, who only respond for the amount of their contributions. The
capital will be represented in shares of equal value. At the time of incorporation, the
authorized, subscribed and paid capital must be indicated.
 Limited liability society (Ltda.): The society is constituted a public deed between,
two partners minimum and maximum 25, who respond according to their
contributions. The responsibility of the members will be solidary and unlimited.
 Sociedad en Comandita Simple (S. en C.): It is constituted by public deed between
one or more manager’s partners and one or more limited partners or capitalists. The
managing partners will respond solidary, unlimited and directly for the operations,
while the capitalists, in relation to their contributions. Thus, the managing partners
will be responsible for the administration of the company and the development of
the businesses and the limited partners will be those who contribute the capital.
 Sociedad en Comandita por Acciones (S.C.A.): It is constituted by public deed
between one or more managers partners and minimum five capitalist partners. The
partners will be in charge of the administration and development of the businesses.
Capital is represented in shares of equal value, which are negotiable securities
contributed by the capitalist partners and, also, by the managers.
 Empresa Asociativa de Trabajo (E.A.T.): productive economic organization
where the partners contribute their work capacity and their knowledge to achieve
business objectives. A company of this type must have at least 3 associates and a
maximum of 10.
 Sociedades Agrarias de Transformación (S.A.T): Your company name should
exclusively indicate the following: "Develop post-harvest activities and
commercialization of perishable products of agricultural origin and the provision of
common services that serve their purpose". To be a member, the natural person must
be the owner of an agricultural holding, whether as owner, possessor, holder or
lessee, but his exploitation contract can not be less than five years. Also may be
held as a member those legal persons engaged in the marketing of perishable –
products.
Simplified stock companies under the time

After 10 years of the Simplified Stock Corporations creation, their growing has been exponential.
The great positive impact that has generated the implementation of this corporate form has become
in an excellent legal tool in order to execute any business activity in different sectors of the
economy by SMEs and big companies. The Colombian SAS is one of the the most popular types
of Colombian corporations. There are other options, but many foreigners choose to create a SAS
when they are setting up a business in Colombia.

Establishing a Colombian SAS is easy and the requirements are simple; thus, this is generally the
best type of company for entrepreneur in Colombia. Only one person is needed to start the
company, and the incorporation documents are private. A Registered Notary is involved only when
assets are paid into the company and a deed of transfer occurs. The simplified process also reduces
associated transaction costs and government involvement.

In 2013 a statistical analysis rendered by Superintendencia de Sociedades at least two and a half
million people all over the country are employed through the existing SAS, which shows the
important impact that the SAS has had.

According to Confederación de Cámaras de Comercio de Colombia, the implementation of the

SAS had the success it was thinking about. In 2015 around 50.000 companies and 76.000 in 2016
were created, which evidence, on the one hand, the growth of the S.A.S. in Colombia and, on the
other hand, the undeniable entry into the fate of traditional companies, many of which teachings
in law schools are currently a title of "history", regardless of more details, because there are very
few traders that today they opt for different companies, except in cases where their application is
prohibited by current legislation, such as for the negotiation of financial obligations.

There are still many gray lines in terms of regulations of the S.A.S. and can allow new figures of
society in the future that can be generated by the state of the SAS, however, it is clear that for the
speed in which they are living the business world, virtuality and formalization facilities, the
Simplified Stock Corporations, is consolidated as an internationally valid model and is and
continues to be the type of society preferred by Colombian traders and entrepreneurs.
Nowadays, the SAS make up almost the 98% of the companies created in Colombia, according to
the records kept by the chambers of commerce and 40% of the big companies in the country. It is
estimated that in Colombia, on average each month around 6,000 companies are created, according
to information from the Single Registry of Companies (Rues), most of which adopt the SAS model,
which allows them, among other benefits, to eliminate of innumerable legal prohibitions that made
investment difficult and constituted obstacles for entrepreneurs.

In the inform of the Superintendencia de Sociedades named “Desempeño del sector construcción
edificaciones” shows the importance of SAS, it shows that a 67.79% in the entire example are
SAS, it has had evidence of a trend growing operating income.
In conclusion this type of society has generated an impulse to the economy of the country, making
easier the way people created jobs.

We must know the most important factors and determinants of business competitiveness, as we
know are based on theoretical aspects that perform an analysis of factors that provide information
on how competitive our Colombian companies can be when facing a globalized world, where one
of the most relevant goals are to remain active in the market, to conquer new spaces.

Companies in the engineering and construction sector in our country stand out for their high degree
of specialty and experience, where two branches are known; buildings and civil works, the first
specializes in all activities related to residential, commercial, industrial and hospital construction,
the second specializes in activities directly related to infrastructure projects for transport purposes,
generation distribution transmission and sale of electricity also has management on treatment and
distribution of potable water and basic sanitation, telecommunications Exploitation and
distribution of hydrocarbons (TURISMO, s.f.)

According to an article published by the newspaper El Tiempo on September 14, 2002, entitled
THE CONSTRUCTION LIFTING FLIGHT OUTSIDE shows us that, in Colombia, only 520
companies in the construction sector export their products, although more than 6,500 are in ability
to open foreign markets. (TIEMPO, 2002). This leaves us without a flavor to us future civil
engineers, future entrepreneurs in construction since according to this article only half of our
capacity is being taken advantage of, also making reference to this article it is not seen that the
current volume of exports of products and construction services reaches transactions amounting to
214 billion pesos, a figure that could be compared to that of oil (which is around 280 billion)
(TIEMPO, 2002) , comments Eduardo Jaramillo, president of the Colombian Chamber of
Construction (Camacol).

Conscious of that diamond in the rough, and motivated by the economic depression, some builders
joined in order to look for alternatives to keep their companies afloat. This is where we can talk
about the Padrino Plan, a project through which a company with more experience and success in
marketing abroad accompanies, advises and connects several members of its own production chain
so that they can take advantage of the experience and seek obtain good economic results. This type
of projects is what we have to support and encourage, projects that in an environment like ours,
many entrepreneurs have explored and those who have had all kinds of results, both positive and
negative, in one way or another, also motivate and demotivate to the different business
associations.

We can call the father to build a business homeland in another country to CAMACOl, who raises
an idea about the difficulties and needs named, this idea is called Camacol Global, it aims to
facilitate the performance of different companies in the trade international that they are interested
or have projects that are based on exploiting this field. All these projects and efforts of
entrepreneurs and government are aimed at the integration of all sectors that are increasingly
competitive and show as a good economy established in our country abroad, with an interesting
offer as to what is refers to construction for export where cement stands out, with 42 percent of
this market and 13 million tons per year; clay derivatives, such as tiles, and consulting services.
(TIEMPO, 2002)

For such fulfillment of the objectives to be reached, it must be kept in mind and as a priority the
competitiveness in the industry, is something that is closely related to its productivity and whether
or not it manages to develop sustainable comparative advantages and as well as the correct
management of resources, knowledge and attributes of this company, focused on the same
elements but of those lacking their competence or those that are disadvantaged in them to obtain
greater performance and effectiveness in production.

When a company wants to be more productive it must make an investment in different factors, not
only in productivity there must also be a strengthening of the technification of its procedures
through the training of its workers what can its efficiency, and thus to achieve a Greater
competitiveness is not only required by the commitment of the companies, it is also necessary that
they have a continuous state support. And forming a good base of entrepreneurship strengthens
the work and results that will make our market more noticeable abroad and progress in this area
by opening more doors to future entrepreneurs of construction that allows us to show our advances
in technology and knowledge.

In Colombia, many organizations have been created financed by private companies and by the
state that seek to encourage the creation of stable and profitable companies or microenterprises in
order to generate employment and development at the national level. They seek to promote
tourism, agricultural, and scientific technological development in the country. Each of these
organizations focuses on a specific topic, so you must find out which is the right one for the project
you want to develop. There are different types of companies that can be created depending on the
number of partners and the capital that is had, with this the code of commerce seeks to offer
different alternatives to entrepreneurs who seek to legally establish their business, giving them the
opportunity to do so as a natural person or as a legally constituted company.

For our Colombian construction business market, it is important to manage a good competitiveness
in order to gain comparative advantages with respect to the companies of the same line of work
that allow sustaining and improving the position that it has in the socioeconomic factor to which
it belongs, said competitiveness is definitive basis in the relationship of efficiency and
effectiveness of the organization. What will make its recognition in the foreign market more
recognized and have greater opportunities to arise in the construction in different areas and
different countries of recognized development in the area.

References

A Barragán. Tipos de empresas y sociedades en Colombia. Recovered from

http://www.pymerang.com/emprender/920-tipos-de-empresas-y-sociedades-en-colombia

Capsulas de emprendimiento. Quienes apoyan el emprendimiento en Colombia. Recovered from

https://capsulasdeemprendimiento.wordpress.com/fomento/emprendimiento-2/colombia/

Emprendimiento. 25 entidades que te ayudaran en tu carrera de emprendedor en Colombia. 2015

Recovered from https://www.bbva.com/es/25-entidades-te-ayudaran-carrera-emprendedor-
colombia/

Francisco Reyes, The Colombian Simplified Corporation: An Empirical Analysis of a Success

Story in Corporate Law Reform, 4 Penn. St. J.L. & Int'l Aff. 392 (2015)

TIEMPO, I. M. (14 de Septiembre de 2002). LA CONSTRUCCIÓN LEVANTA VUELO EN EL

EXTERIOR. El Tiempo.
TURISMO, P.-M. I. (s.f.). Colombia Exporta Servicios. (PROCOLOMBIA, Editor) Recovered
from http://www.colombiaexportaservicios.co/oportunidades-de-exportacion-en-
servicios/ingenieria