Fiscal Obligations and Accounting Best Practices for SMEs

The Business Meet-up held on 3 July 2025 brought together an engaged community of entrepreneurs for an enriching lunchtime session at Odum Afro Fusion, situated at 34 Rue du Curé in the heart of Luxembourg City. Around fifty participants of different communities took part, including budding entrepreneurs preparing to launch their ventures and small business owners who have already been operating for several years. The atmosphere was warm, dynamic and highly interactive, reflecting the diversity of experiences present in the room.

The event centred on fiscal obligations and accounting best practices for SMEs, a topic that remains fundamental yet often challenging for new and existing entrepreneurs alike. Our invited expert, the accountant Ahmad Hashemifar, delivered a clear and insightful presentation that offered a practical understanding of how small businesses can navigate their financial responsibilities in Luxembourg. He discussed the importance of establishing proper bookkeeping structures from the earliest stages, maintaining transparent financial records, preparing for tax obligations, and building accounting habits that support long-term stability and growth. His contribution resonated strongly with participants who noted how accessible and applicable his explanations were to their daily realities.

The lunch setting added an engaging and convivial dimension to the exchange. Odum Afro Fusion provided its signature dishes inspired by West African flavours, creating a warm backdrop for discussions that continued well beyond the formal presentation. Participants shared their own experiences, challenges and strategies, and many expressed appreciation for having a space where technical subjects could be addressed in a supportive and community-oriented environment. Several attendees remarked that the session helped demystify aspects of accounting that had previously appeared overwhelming, while others used the opportunity to reflect on ways to improve the internal processes of their existing businesses.

This meet-up, an integral part of Lëtz Art TRICOT Project, highlighted the importance of creating platforms where entrepreneurs can access reliable expertise while also connecting with peers who share similar ambitions and obstacles. It reinforced the value of collective learning, particularly on themes that have a direct impact on business sustainability and compliance.

We extend our sincere thanks to Ahmad Hashemifar for his valuable guidance and to all participants for their enthusiasm and thoughtful engagement. We also thank our sponsors and partners suhc as the Ministry of Economy, Oeuvre Nationale de Sevours Grande-Duchesse Charlotte, the Ministry of Labour, the City of Luxembourg, the Luxembourg Chamber of Commerce and the House of Entrepreneurship, amongst others. As always, our aim is to support entrepreneurs at every stage of their journey, especially Beneficiaries of International Protection, Newcomers and third-country nationals and we look forward to welcoming them again at upcoming Business Meet-ups dedicated to strengthening the entrepreneurial ecosystem in Luxembourg.