Do you have a business idea and you’re ready to start trading? There is a process to undergo before you can be called a legal entity in South Africa. With the unemployment rate at 29%, starting a business is becoming a common way of surviving in South Africa.
Having the right business documents shouldn’t cost you thousands as it is portrayed by many agencies and most frequently scammers. In fact, you can have all the right documents for your business within just three days and having not paid more than a thousand rand for them all.
We have compiled a list of some important must-have documents to run a formally registered business
- Registering Your Business – You first need to register your business name with the South African government, through the Department of Trade and Industry (DIT). The DTI agency that is responsible for business registrations is the Companies And Intellectual Property Commission (CIPC). To speed up your business registration process, use their website https://eservices.cipc.co.za to create an account and register online.
You will need the following to register your business
- R170 for a Pty Ltd business. (R50 for name reservation and R120 for name registration after it is approved)
- Business Name (At least 4 different names to be submitted). Do your research before submitting a name. A unique name is always good to perfectly brand your business.
- ID Copy/Passport – A recently certified copy of your ID book, Smart ID card or your Passport.
- Director(s) details of all the persons who will be listed as director(s)
- SARS TAX Clearance– Importantly, after registering your business, make sure you apply for your business tax clearance certificate with the South African Revenue Service (SARS). You could also apply for your tax clearance certificate online at https://www.sars.gov.za or alternatively, visit their branches nearest to you. The process is free of charge on your first application. You will need your ID/Passport, Business registration papers that you will have received from CIPC and your proof of address (Water/Electricity bill from the municipality/confirmation letter from the local council.
- BEE Certificate – Broad-Based Black Economic Empowerment (BBBEE or B-BBEE) is a form of economic empowerment initiated by the South African government in response to criticism against Black Economic Empowerment instituted in the country during 2003/2004. You can get your BBBEE certificate in the CIPC website https://eservices.cipc.co.za for free.
- Business Bank Account – Your business will need a business account under its registered name. Business accounts applications usually need your CIPC business registration papers, your Identity Documents and proof of address. FNB, ABSA, Nedbank and Standard Bank offers business banking in South Africa.
Other Tools To Make Your Business Complete (*Not Compulsory)
- Register a Domain Name – After registering your business name, make sure you also reserve your business domain name. This is a web address name like www.companyname.co.za. The name could be useful for services such as:
- Website – Let people who will be searching for your business online find you. Or people who are searching for services that you (will) offer.
- Email Address – A domain name could enable you to use your own custom email address like Info@businessname.co.za, orders, support, etc.
- Logo Design – Make your business unique and identifiable by designing a perfect logo.
- Social Media – Create social media pages and start sharing what you (are going to) sell. Be consistent and you will attract customers who are looking for your services. Use #hashtags to reach even clients who are not yet in your following/followers cycle.
- Advertise – Use digital tools like Google Adwords to reach any clients who may be searching for your services.
We are Saglotech, a Web Design Company in Johannesburg. We help businesses to have domain names, websites, business emails, logo design, social media accounts and to advertise your business. We could also help you with the process of registering your business and getting the legal papers (at no extra cost to our web services clients). Get started today with www.saglotech.co.za.