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

I guess the first thing is to ask yourself “Why do I want to start a business?”. To get rich? Forget it! Freedom? Forget it! To make a living? Sounds good! To satisfy a dream? Also good!

Sure, some people in business actually do get rich. But I haven’t met many in the last 30 years or so that I have been with Harbour and Associates. And freedom? Freedom is going to work 8 hours a day, 5 days a week, leaving about 55 hours a week to enjoy other things and that’s not including the 13 public holidays when you get paid for doing nothing.

So, the reality is that being your own boss is a tough game. The responsibility for success or failure falls squarely and totally on your shoulders, so you’ll probably be working in your sleep!

OK, but you’ve decided to dive in and do it. Good for you. I’ve been doing it all my life and wouldn’t change it for the world.

Next question. Sole trader, partnership, or company? I’ve already dealt with this in two recent articles – one for people who will manufacture, or buy and sell and one for service providers.

Generally, someone making, or buying and selling would usually be better off with a company, whereas a service provider may be better off starting as a sole trader.

Now you need outside help. All businesses need to keep a set of books (if only for the tax return), and perhaps need to register as employers, as importers/exporters, for VAT, with CIDB, HBRC or any of a myriad of other regulatory bodies. Tax returns must be submitted and, if it’s a company, CIPC returns. If you try to do all of this on your own, you won’t have the energy and drive that you need to get your business where you want it to be.

If you can find an experienced professional who will invite you to book unlimited meetings at no charge, you’re one of the lucky ones. His name is Derek Springett. He’s a Pr(Eng); CA(SA) and the CEO of Harbour and Associates Management Services. That’s me!


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>

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.

If you enjoyed this article, you may like to subscribe to the monthly round up featuring all of my latest articles. Then check out the three books I have written which have proved to be very popular.

Complete the form below to subscribe to my monthly round up.

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