How do I Start a Small Home Business in Bloemfontein, South Africa?
South Africa has the African continent's largest economy. That fact and its straightforward requirements for opening businesses make it attractive to entrepreneurs. For those living in Bloemfontein, the capital of the Free State province, starting a small home business requires registration with the Companies and Intellectual Property Registration Office (CIPRO) and other government agencies. Once registration is completed, the business is free to operate.
Other People Are Reading
Instructions
-
-
1
Choose a company name and determine if it is available. Visit CIPRO's website and complete the required Application For Name or CK7 form. As of August 2010, the cost is ZAR 50 (USD $6.40) and the waiting period is approximately three to five days. You can also go to CIPRO's Pretoria offices. Submitting the Application For Name form in-person will result in a longer waiting period. However, once the name is approved, it will be automatically reserved for two months and no one else can use the name during that time. The name reservation can be extended for one month at a cost of ZAR 20 (USD $2.56).
-
2
File a completed Certificate to Commence Business or CM46 form with CIPRO. Also include the following documents in the submission: a CIPRO letter indicating that the company name was approved, a copy of the Certificate of Incorporation, a copy of the Memorandum and one copy of the Articles of Association, which must include a signature page. A fee must also be included and the total cost will vary depending on the authorized share capital of the company. The fee for a small home business can be obtained from CIPRO upon request. Also provide the following completed forms: Form CM22, CM27, CM29, CM31, CM46, CM49. All forms are available at the CIPRO web site. Once all required forms, documents and fees are submitted, CIPRO will take five to seven days to process incorporation.
-
-
3
Register with the South African Revenue Service (SARS) by submitting the appropriate form. The form will depend on the type of company, but all forms are available at the SARS website. The company must then register as an employer using the EMP101e Form, which is also available at the SARS website. For VAT (Value Added Taxes) purposes, the company must submit the name of its public officer to SARS and this person must be a resident of South Africa. The tax registration process will take 12 days.
-
4
Register with the South African Department of Labour for unemployment insurance purposes. To do this, submit Forms U18 and U19 and wait four days for approval. The forms are available at the Department of Labour website. Once approved, the department will issue a reference number to the company and the company can begin operating.
-
5
Open a bank account for the business. To do this, submit evidence of the company's directors and original copies of the company's incorporation documents. The forms will require the company's name, contact information and income tax number. There is no fee to open an account and the process will typically take only one to two days.
-
1
Tips & Warnings
Contact the Bloemfontein Chamber of Commerce & Industry for advice on running a small business. bcci.co.za/
References
Resources
- Photo Credit business is business - cliche image by Jeffrey Zalesny from Fotolia.com
