Process of setting up and registering a new entity
- Go online on the website of the CIPC and register a new company . The cost is R 175 , R125 for registration and the name check is R 50.
- Go to a SARS office , do an application for Tax Clearance certificate for free(book an appointment to avoid waiting in line)
- O[pen a business bank account. Most banks have “starter” accounts with monthly fees less than R500.
- Go to your nearest SEDA office ask them to assist you to do a business plan for you , this is for free. Plus request training that might be relevant to your field .
- Go online on the National Treasury website , register on the Central Supplier Database (CSD) for free.
- Go to your municipality, district municipality/Metro , province and request them to register your entity on their database as a supplier, for free.
- If your entity is a youth owned entity ( the majority shareholding is held by people that are less than 35 years in age) go to your National Youth Development Agency (NYDA) attend their financial management course – 5 week course attendance once a week . This course is for free.
- Apply for the NYDA , for some funding for free.. They make available equipment to you to the value of R 50 000 (this is required to pay back).
- Register for COIDA ( cover for employees for injury on duty). Obtain letter of Good Standing from the Department of Labour (DOL). You are now in the position to employ people.
- Professionalise your business by
- Logo’s
- Letterhead
- Brochures
- Business email address/es
- Website
- Landline/mobile numbers
Starting a business is challenging , but following the above steps and the resources available as listed will make the process cost effective , simple and as quick as possible. Good luck!
