How Do you Start Your Own Business?
How do you start your own business in South Africa
To start your own business can be an exhilarating and daunting experience. From company names and business plans to registration, tax and the idea of creating jobs, there is so much to consider. To help you get started, we’ve put together a list of useful tips.
Register your company
To register you company, you’ll need a certified copy of your ID, an active email address and R175*. Once you have scanned the certified copy of your ID onto your computer or saved it on a USB, go to the CIPC website http://www.cipc.co.za/za/ and register a new company.
A deposit of R175* (this includes the registration for R125* and the name for R50*) will be required. You will have to pay this via their banking details found on the website. You can also apply for a B-BBEE certificate and all other business documents.
Your next stop will be SARS as you will require a tax clearance certificate. This is free of charge. Chat to one of the consultants at your nearest branch or go online to https://www.sarsefiling.co.za/.
Open a business bank account
Visit your nearest FNB branch to open a business bank account for R500*. ABSA also has an option for R250*.
Create a business plan
Writing your own business plan can be tough. Get some help from Seda for free. They also offer other training that might be relevant to your field. Click here http://www.seda.org.za/
Register on the Central Supplier Database (CSD)
The Central Supplier Database maintains a database of organisations, institutions and individuals who can provide goods and services to government. If you’re interested in pursuing opportunities within the South African government, you can self-register for free here https://secure.csd.gov.za/
Register with your local municipality
You can also go to your municipality and ask them to register you on their database as a supplier. This service is free of charge and could get secure future business.
Complete a financial management course
The National Youth Development Agency (NYDA) offers short courses free of charge. Visit http://www.nyda.gov.za/ to see if you qualify.
Apply for NYDA funding
At same link as above, you can apply for funding from the NYDA. Read more on their qualifying criteria and if you are eligible, you should apply.
Register with the Department of Labour
The success of any business relies on its people. Hire the right people to help you build your business. Once you’ve filled the jobs and are looking to win those tenders, you must obtain a Letter of Good Standing from the Department of Labour.
Develop a corporate identity
Your company will not only need a name, it will need a logo too. This will go on all your branding elements like your website, vehicles, company stationery and email signatures. A good logo and solid corporate identity is vital to ensure that your branding is consistent and recognisable across all your marketing.
Market your business
Every business needs to do some level of marketing to ensure that people know who you are and what you do. Whether you decide to advertise on digital media like Facebook or LinkedIn or through traditional media like TV, radio and print, you need to get your business out there.
Now that you have a starting point, get out there and make your business a success. If starting your business isn’t what you want to do right now, find your dream job instead.
*Prices may change
Freerecruit.co.za is a free online recruitment site for employers to post job vacancies and for job seekers to find the best jobs in South Africa.
If you are a recruiter or a company looking to fill a position, you may post jobs for free on our free online job posting site. If you have any questions or concerns, please do not hesitate to contact us.