How To Register Small Business In South Africa

Government has now recognised that the small medium and micro sized enterprises smme sector is a key to creating new employment but it does not appear to appreciate that the actions of.

How to register small business in south africa. Lack of interest and red tape choke fledgling businesses bdlive the environment for small businesses in sa is unusually harsh. After starting your business operations you are required by law to register for an income tax reference number from the exchequer within 60 days. You can register a company as a non profit company or profit company with the companies and intellectual property commission cipc. Register a sole proprietorship. Certified copies of the id of the directors and incorporators.

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. A company registration may vary between r125 and r475 r125 for a private company r475 for a non profit company registered without members. For every new business established you are required to register with your local sars office to obtain an income tax reference number. 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.

It is important for a business person to register their business correctly. There are five types of companies that you can register. Certified copy of applicant s id. How to register your business. Some service providers offer shoddy service with false promises about timing etc.

Funding for various types of businesses is available through the industrial development corporation or the department of trade and industry s government investment incentives. Should i register my new small business for tax. Click on the relevant type of enterprise you would like to register. The law sees a company in the same light as a natural person. The south africa government services website has information on registering a business in all official languages.

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. You can register a company or co operative with cipc. A company is a legal person which has capacity and powers to act on its own. If you wish to run a franchise business you would register a private company. To complete the registration process the following supporting documents are needed.