Company Registrations
Most entrepreneurs start off as Sole Proprietors, running and operating their business as an individual. At some point it may make sense to formally register your company with the Companies and Intellectual Property Commission (CIPC). But how do you know when the time is right, or if it’s necessary to do so at all?
When it makes financial sense -- As a Sole Proprietor, you are entirely responsible for the financial risks involved in running your business. You’re liable for all debts, but more importantly if the business fails then all of your assets – even those unrelated to the business – can be seized and will be subject to the claims of your business creditors. Registering as a Private Company will alleviate this burden by limiting your personal liability.
Being formally registered allows you to open bank accounts, apply for business loans or investments, take on shareholders, and to make use of the various funding and investment sources available to Private Companies.
When it makes business sense -- Registering your business could broaden your potential client and supplier base, because many customers and suppliers prefer to deal with a Private Company as opposed to an individual. Being registered will allow you to pitch for business to larger corporates and government.
It enhances your identity and adds credibility to your operation: Registering a business makes it easy for potential customers to identify you as a legitimate operation.
In a nutshell, if you find that your profits are increasing and continued growth is both necessary and inevitable, then it may make financial sense to register officially and formalise your structure and finances.
We Offer:
• Name reservation
• Company registration including all documents
• B-BBEE affidavit
• Tax number and tax clearance
• VAT, PAYE, UIF registration
• Assistance with opening a bank account
• COID registration and letter of good standing
