While many argue that small business in South Africa is not as big as it should be; if one goes to any street corner or any major traffic intersection, you will presented with overwhelming evidence of the enterprising nature of people in South Africa. The fundamental elements of a business is the concept that you sell a product or service at a profit and you do it on terms that you prescribe. These examples certainly fit that description. However, these business owners might not necessarily have the vision or credibility to prove the sustainability or viability of their businesses.
Nevertheless, it is our view that we have the world-class structures in place to assist anyone keen to start a small business in South Africa. The newly formed CIPC last year (from the old CIPRO) has made company registrations and protection of intellectual property rights much easier, cost effective and accessible to the aspiring business owner. Contrary to most advice, we advocate that you have at least a few thousand rands ready to invest into the startup of your small business in South Africa. You can definitely get a business registered as a PTY with us with less than R500, but this is just the start. You need to ensure that your SARS registrations are in order and that you have marketing and sales material in place to make your first sale. Everything is about sales. Setting up the business is the easy part. Convincing customers that you have a credible business that they can trust is an entirely different beast.
If you would like to register a PTY or a cooperative, visit our products page to see the Start a Small Business in South Africa Options.
If you would like to find out more information on PTY registrations, visit our blog post to see the PTY Registration Option.