• About Us
  • Write for Us
  • Paid Content Solutions
  • Contact Us
ExpertHub
  • HOME
  • LAUNCH
  • BUSINESS
  • LEADERSHIP
  • MONEY
  • SUCCESS
  • NEWS
    • All
    • Company Posts
    • ExpertHub Today
    Transunion Global Capability Centres Boom

    Global Capability Centres Boom As They Move Up The Value Chain

    Global Tech companies

    Global Tech Companies Are Turning To South Africa For Media And Marketing Expertise

    Innovation Summit

    Innovation Summit 2021 Showcases SA’s Top Tech Entrepreneurs

    Three customer experience strategies you’re missing-23Sep21

    Three Customer Experience Strategies You’re Missing

    Embracing digital 1st world, SMBs confid. to thrive-23Sep21

    Embracing A Digital-First World, SMBs Can Have The Confidence To Thrive

    SAB Foundation Calling All Entrepreneurs Tholoana Entps. Prog.

    Applications for SAB Foundation Are Now Open

    Trending Tags

    • About Us
      • Write for Us
      • Paid Content Services
      • Contact Us
    No Result
    View All Result
    • HOME
    • LAUNCH
    • BUSINESS
    • LEADERSHIP
    • MONEY
    • SUCCESS
    • NEWS
      • All
      • Company Posts
      • ExpertHub Today
      Transunion Global Capability Centres Boom

      Global Capability Centres Boom As They Move Up The Value Chain

      Global Tech companies

      Global Tech Companies Are Turning To South Africa For Media And Marketing Expertise

      Innovation Summit

      Innovation Summit 2021 Showcases SA’s Top Tech Entrepreneurs

      Three customer experience strategies you’re missing-23Sep21

      Three Customer Experience Strategies You’re Missing

      Embracing digital 1st world, SMBs confid. to thrive-23Sep21

      Embracing A Digital-First World, SMBs Can Have The Confidence To Thrive

      SAB Foundation Calling All Entrepreneurs Tholoana Entps. Prog.

      Applications for SAB Foundation Are Now Open

      Trending Tags

      • About Us
        • Write for Us
        • Paid Content Services
        • Contact Us
      No Result
      View All Result
      ExpertHub
      No Result
      View All Result
      Home LAUNCH Starting a Business Ready to Launch

      7 Steps To Launching Your Own Business

      Alison Job by Alison Job
      Oct 2, 2019
      in Ready to Launch
      407
      launching-a-business-in-south-africa
      Share on FacebookShare on TwitterShare on LinkedIn

      RelatedTopics

      How To Attract Your First Clients With a Business Product People Will Pay For

      The Importance of Your Business Location When Attracting Customers

      3 Brilliant Books To Help You Launch Your Business

      There are 7 steps involved in getting your business from concept to reality, follow these and your business will launch in no time.

      Launching a business in 7 easy steps

      Starting a business involves planning, making key financial decisions and completing a series of legal activities. These 7 simple steps can help you launch your business idea.

      Choose a name

      How will your business be known? Will the name be descriptive or distinctive? The name of your business could have big impact on its future, so take time to get it right.

      Once you’ve decided on a name, you need to check with the CIPC if the name is available before registering it (see step 6).

      Write your business plan

      Writing a business plan will help you map out how you will start and run your business successfully. It basically outlines what your business will look like, and how you plan to get there. A business plan is essential for any business, regardless of its size. It should cover the following:

      • Your business goals
      • Marketing initiatives
      • Industry research
      • An operations/management plan
      • A financial plan.

      Resources:Free Business Plan Template Download

      Find a location

      business-location-options

      The location that you choose will depend on the type of business that you plan to start. While it may not matter much if you plan to start an online business, it is critical for restaurants, retailers and other service businesses.

      When looking for a business premise, you should consider the following:

      • Do you need to be near to customers?
      • Do you need to be close to suppliers?
      • What features must your premises have in terms of size, parking, security, etc?
      • Do you intend to lease or purchase your premises?
      • Do you plan to operate your business from home?

      Finance your venture

      Drafting your business plan will give you a good idea of the amount of money you’ll require to start your business. There are several options available to you here. You can apply for government backed loans, venture capital or a bank loan.

      Some entrepreneurs “bootstrap”, or self-fund, their business, others turn to friends, family, investors and other lenders to obtain funding.

      Legal structure

      Decide which form of ownership is best for you:

      • Sole proprietorship
      • Partnership
      • Corporation.

      The decision affects more than just your taxes. It’s best to set up from the start with the end in mind. There are several different types of business you can operate under — here’s a brief overview of your options.

      • Sole proprietor: The business has no separate legal existence from its owner. You can use a business name or your own name and as a sole trader you are responsible for the liabilities of your business.
      • Partnership: This involves two or more people who legally share profits, risks and losses according to a partnership contract, which is established at the onset of the business.
      • Company (Pty Ltd): The most common type of company used by small business. It has more regulatory requirements and is a legal entity separate from its shareholders/owners.

      Legal requirements

      There are several legal requirements for new companies. In South Africa, start-ups are subject to the New Companies Act. You need to list your company and business name with the CIPC (Companies and Intellectual Property Registration Office).

      You must also register with SARS for VAT and get a tax number for your business, get necessary business licences and permits.

      You may need certain licenses and permits to run your business. Check with the CIPC whether your business needs a special permit or licence.

      Get a website

      A web presence is the fastest way to tell people about your new business. Choose a domain name and register it. Then choose a service provider to host your website for you. You can either pay a company or you could choose a free service like WordPress and do it yourself.

      Alison Job

      Alison Job

      Alison Job holds a BA English, Communications and has extensive experience in writing that spans news broadcasting, public relations and corporate and consumer publishing. Find her at Google+.

      Quick Links

      • Business Plan Advice
      • Business Plan Format Guide
      • Business Plan Format
      • Sample Business Plans

      NEWSLETTER SIGN-UP

      Sign-up for Weekly ExpertHub Updates

      * indicates required




      EXPERT INSIGHTS

      Startup Content Marketing: 3 Things To Do Right Now

      Startup Content Marketing: 3 Things To Do Right Now

      by Frank Hamilton

      Content marketing has become so popular that brands both big and small eagerly use it in almost every marketing campaign....

      Work Life Balance - Morning Mindset Practices

      Morning Mindset Practices Are Key To Maintaining Balance

      by Sheila Vaske

      Work / Life balance is a huge topic these days, and one that really needs some attention. I hear it...

      Must-Have Mindset for Business and Leadership Success

      Must-Have Mindset For Business and Leadership Success

      by Laura Di Franco

      Business and leadership success start with a discipline of mindset moves, including having fun with your fear.

      Improve Customer experience

      7 Methods Merchants Can Use To Transform the Customer Experience

      by Frank Hamilton

      How You Can Transform Your Customer Experience And Why It Is Important

      • HOME
      • LAUNCH
      • BUSINESS
      • LEADERSHIP
      • MONEY
      • SUCCESS
      • NEWS
      • About Us
        • Write for Us
        • Paid Content Services
        • Contact Us
      • About Us
      • Write for Us
      • Paid Content Services
      • Contact Us
      • Terms & Conditions
      • Data Privacy Policy
      • Privacy Policy
      • Sitemap

      Copyright © 2022 ExpertHub.info
      Revenue Growth Experts

      No Result
      View All Result
      • HOME
      • LAUNCH
      • BUSINESS
      • LEADERSHIP
      • MONEY
      • SUCCESS
      • NEWS
      • About Us
        • Write for Us
        • Paid Content Services
        • Contact Us

      Copyright © 2022 ExpertHub.info
      Revenue Growth Experts

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In