Starting a business from the ground up.

[InternetSwag]

Hi.

At the end of December I will be a qualified Sports Injury Massage Therapist, my qualification will be recognized by REPSA.

I would then like to start my own business and then at the end of next year when I am a qualified Personal Trainer/Conditioning Coach and all the other *** that came with my course. Obviously these two go hand in hand.

I do not want to work at Virgin Active for R3000 a month.

I want to go my own way, I have some questions. Is it really that simple to start a small business? I understand it to be, you just go to SARS and fill out a registration paper or to the bank. I won't need bank loans though, my business will cost me less than R20k to start.

My biggest question is regarding BEE, I have heard that you by law must sell shares of your company to a BEE compliant person and by 2014 all current existing businesses will be BEE compliant in this manner.

Of course I'm still young and incredibly inexperienced so I still have a lot to learn, hence why I am asking.

 

[DigitalSoldier]

Hi.

At the end of December I will be a qualified Sports Injury Massage Therapist, my qualification will be recognized by REPSA.

I would then like to start my own business and then at the end of next year when I am a qualified Personal Trainer/Conditioning Coach and all the other *** that came with my course. Obviously these two go hand in hand.

I do not want to work at Virgin Active for R3000 a month.

I want to go my own way, I have some questions. Is it really that simple to start a small business? I understand it to be, you just go to SARS and fill out a registration paper or to the bank. I won't need bank loans though, my business will cost me less than R20k to start.

My biggest question is regarding BEE, I have heard that you by law must sell shares of your company to a BEE compliant person and by 2014 all current existing businesses will be BEE compliant in this manner.

Of course I'm still young and incredibly inexperienced so I still have a lot to learn, hence why I am asking.

No need to go to SARS only if you want to register your business. You can get the forms online from CIPRO(can't recall the new name) and do it yourself or you can go to a bookkeeper or just google it. There are lots of companies that you can pay that will help you with the registration.

What you have heard regarding BEE is complete BS.

If your company has a turnover of less than 5 million a year you qualify as an EME and that is a level 4 BEE company.

If later on you want to improve your BEE status to Level 3 you can still do it without selling shares to a black person.

No offence, but why do you care about your BEE status. Unless you will be tendering for contracts from government or large corporations.

 

[ice_cubes]

CIPC

 

[luxe]

DigitalSoldier nailed it, no need for any more responses really.