Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Search Products
Filter by Categories
Company Secretarial
General Business
General Interest
Investing in Property
Personal Growth
Personal Wealth
Trusts and Estate Planning

You should have read the post “Starting your own business“. It deals with why you want to start a business and the things that often go wrong, but it does not deal with the mechanics. So here goes –

1) You would normally do better to start with a company rather than as a sole trader. We can sell you a company off the shelf or we can form a new company for you. Your best bet is to form a new company so that you can have the name that you want from the word go instead of having to pay us to change the name of a shelf company.

2) But if you are in a hurry, you can buy a shelf company and then be “Trading as ……”. Do not put (Pty) Ltd after your trading name.

3) Which is better, a CC or a (Pty) Ltd? There is very little difference and in any event we can’t form CCs since the new Companies Act came into being. Actually, a company is a better bet than a CC as it costs less to maintain.

4) Now the company has to be registered as a taxpayer at SARS. Our fee includes this.

5) The company will need a bank account. We can arrange this very quickly at Standard Bank, Randburg

6) Other registrations which may be required are (a) as an employer at SARS, UIF and WCC (b) as a VAT vendor (c) with CIDB if it is a construction company (d) as a Public Benefit Organisation at SARS (charities, churches etc.) (e) as an Exempt intitution at SARS (f) as a non-profit organisation at the Department of Social Welfare.

(7) If the shares are foreign owned, the certificates need to be stamped “Non-Resident”.

(8) The company may require an Import/Export licence.

(9) You may need a B-BBEE certificate and as it is the first year of trading it is automatically an Exempted Micro Enterprise.

But most of all, you need to come and see me for a no charge meeting. I’ve been in business all of my life, first as an engineer with my own factory and then as a Chartered Accountant with my own practice. Here’s my diary – book a time that suits you.


XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Looking for even more informative content? Check out the books I have written which have proved to be very popular.

Need help with your Trust or Business?

Contact us today or set up a free meeting with our CEO, Derek Springett. We have been offering expert advice and business services since 1971. You can also view see our full list of services.

Do you want to leave your cart?

Your cart is awaiting your next purchase, so please proceed to the Home page and continue shopping. If you are leaving your cart because of problems, why not give us a call on our 24 hr numbers 063 866 8928 or 011 805 0030 (subject to load shedding)? If all else fails, call Derek, our CEO on 082 552 9696. We’ll do what we can to help