How To Register A Small Business In South Africa

You can register online with companies and intellectual property commission cpic.

How to register a small business in south africa. There are five types of companies that you can register. The first step in starting a business is naturally to have a name and have it registered with the companies and intellectual property commission of south africa. How to register your business. This process is actually quite simple. For every new business established you are required to register with your local sars office to obtain an income tax reference number.

If you wish to run a franchise business you would register a private company. The report s findings are based on a survey of 400 small business owners across 22 sectors in south africa and was compiled by www in partnership with xero a cloud based accounting software firm. Each name reservation application costs r50. Registration must be done within 60 days after starting operations by completing an it77 form available at your local sars office or from the sars website. The south africa government services website has information on registering a business in all official languages.

Some service providers offer shoddy service with false promises about timing etc. Register your company you will need to deposit r125 for company registration without a name reservation or r175 for a company registration with a name reservation into the cipc bank account. Should i register my new small business for tax. Register a sole proprietorship. You can register a company as a non profit company or profit company with the companies and intellectual property commission cipc.

A company is a legal person which has capacity and powers to act on its own. It is important for a business person to register their business correctly. The registration process will mean that your name is reserved and you are the official entity that can trade under that specific name within south africa. The convenience of business registration south africa is that you can do it online or in person at the designated terminals. Funding for various types of businesses is available through the industrial development corporation or the department of trade and industry s government investment incentives.

The law sees a company in the same light as a natural person. And yes you can do it yourself. A company registration may vary between r125 and r475 r125 for a private company r475 for a non profit company registered without members.