Starting a new business

[DrewChan]

I want to start my first business.

Could someone give me a quick run down on what i need to do in terms of registration.

There are a lot of sites that claim to do most of the work for you.

Looks like for a small business pty ltd is the best bet - would just really like someone to step me through the process to avoid pitfalls etc.

I will probably have a small group of employees and need to know about registering for tax etc.

What kind of time frame should I be looking at?

Excuse the erratic questioning. Multitasking

 

[akescpt]

there was a thread not to long ago about exactly this. ill see if i can find it.

 

[akescpt]

http://mybroadband.co.za/vb/showthread.php/819694-Small-business-advice

 

[cupcake]

Do you have a comprehensive business plan of how you are going to make a profit? If not start with that you can download a template online.

Anyone can register a business just pick up the paperwork at Walton's and submit it your focus should be on operations and profit generation. I however wouldn't register the business or apply to pay tax unless the turn over requires you to do so. Start as a sole proprietorship and run with that as long as possible, it is pointless complicating your life unnecessarily.

If you have the capital to outlay a mentorship with someone like Business Partners could prove worthwhile.

 

[JayM]

I want to start my first business.

Could someone give me a quick run down on what i need to do in terms of registration.

There are a lot of sites that claim to do most of the work for you.

Looks like for a small business pty ltd is the best bet - would just really like someone to step me through the process to avoid pitfalls etc.

I will probably have a small group of employees and need to know about registering for tax etc.

What kind of time frame should I be looking at?

Excuse the erratic questioning. Multitasking

www.rta.co.za

I use these guys and they do everything required for compliance, tax, VAT, accounts, PAYE, UIF, etc for a really low fee.

 

[S-B-S]

In terms of registration of the company, you can do it on CIPC for R175 (Or PM me and we can sort it out for you). Sometimes it only takes a few days, but can take up to a month. CIPC will automatically register your company with SARS for Income Tax.

Once you start employing people, you will need to register with SARS for Payroll taxes.

 

[SACE]

Here is gfmalan's very detailed answer on this:

https://mybroadband.co.za/vb/showthread.php/878088-Starting-Up-New-Business