How To Register A Small Business In South Africa

It is important for a business person to register their business correctly.

How to register a small business in south africa. Register a sole proprietorship. An upfront cost between r125 and r475 is involved depending on the type of business you are registering. 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.

And yes you can do it yourself. The convenience of business registration south africa is that you can do it online or in person at the designated terminals. A company is a legal person which has capacity and powers to act on its own. This process is actually quite simple. You can register a company as a non profit company or profit company with the companies and intellectual property commission cipc.

There are five types of companies that you can register. You can register online with companies and intellectual property commission cpic. 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. Should i register my new small business for tax.

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. The law sees a company in the same light as a natural person. We always tell you what to realistically expect as we have done so for thousands of clients. A company registration may vary between r125 and r475 r125 for a private company r475 for a non profit company registered without members. Some service providers offer shoddy service with false promises about timing etc.

The cipc self service terminals are located in pretoria johannesburg pretoria cape town or at an authorized bank like first national bank fnb. 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 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.