How to start a company
I get lots of calls from people who want to start a business. It is difficult to respond to them because they really have no idea what it means to start, grow and run a business. So, here’s a straightforward guide.
- Decide what the business will sell. What great idea do I have? What am I really good at? What are people/companies badly in need of?
- What do I need in order to deliver the goods or services? A factory? Plant and equipment? Offices? Office furniture and equipment? Delivery vehicles?
- How will I make connection with my potential customers? Word of mouth? Directly calling on them? Social media and Google marketing? Advertising on billboards or in publications, on radio or television?
- Who will build and host my website?
- How much startup capital will I need and where will I get it?
Whilst this is by no means a comprehensive business plan, if you can’t answer all of those questions, then you are wasting your time. There’s nothing wrong with dreams, but they must be crystal clear. Only then will they turn into reality.
Once you’re good to go, you need to form a new company or buy a shelf company. You can do that here. It will come registered as a tax payer, and with a BEE affidavit and Tax Clearance, plus a bookkeeping voucher entitling you to the first 6 months bookkeeping free.
And no, “the Government” is not there to set you up in business! You must do all the thinking, planning and budgeting. You must build the presentation that will justify a loan from the NEF, Business Partners or the banks. There is no soft approach.