Have you ever thought about how to start a business in South Africa?
It may feel daunting to take the plunge and officially bring the vision for your business venture to life…but these 10 simple steps help you easily navigate the process of starting a business in South Africa!
#1 Register Your Company
Go to http://www.cipc.co.za/za/ and follow the instructions to register your new company. The entire process costs R175 (R125 for registration and R50 for the company name). You’ll need a certified copy of your ID to register, as well as an active email address. Upon completion of the process, CIPC will provide you with all of your business documents including BBBEE
#2 Do a Tax Clearance
A tax clearance can be obtained at SARS for free. If you want to skip the queues, you can always go through eFiling or get a tax professional to assist you.
#3 Open a Business Bank Account
Every business needs a business bank account. You can open up a business bank account at ABSA for R250, or at FNB for R500.
#4 Create an Official Business Plan
If you go to your nearest SEDA (http://www.seda.org.za/), they’ll assist you in creating a business plan for you at no charge. They may also have other relevant resources available to you, so they are worth checking out.
#5 Register on the CSD
Register your company on the Central Supplier Database for free. The process is relatively simple and can be done on their website- https://secure.csd.gov.za/.
#6 Register on your Municipality’s Database
Go to your local municipality and request to register as a supplier on their database. This process is also free.
#7 Attend an NYDA Financial Management Short Course
Did you know that NYDA (http://www.nyda.gov.za/) hosts free financial management courses? They usually run for a minimum of 5 weeks, with a session being held once a week. This course will give you the financial management knowledge needed to run a business
#8 Apply For NYDA Funding
NYDA also provides funding for new businesses. You could receive up to R50,000 worth of equipment. And the best part is that you don’t need to pay it back.
#9 Start Hiring Employees, and Register for COIDA
Once you start hiring people, ensure that you register your business at http://www.coida.co.za/employee/ so that both you and your employees are covered.
#10 It’s Time To Start Marketing!
Effective branding and marketing play a very important role in the overall success of your new business. For the best results, it’s advisable to use a trusted and respected digital agency to handle your branding, website, and online marketing.
At The Weblab, we understand how exciting yet unnerving it can be when you’re thinking about how to start a business in South Africa. Over the years, we have assisted many new businesses when it comes to creating effective branding, iconic websites, and online marketing strategies. Feel free to contact us today for all of your website, SEO, and online marketing needs.