Make It Of­fi­cial

Cosmopolitan (South Africa) - - WORK -

1

Set­tle on a Name It should be short, unique and eas­ily search­able. Try to think in two-syl­la­ble words (á la Star­bucks, Twit­ter, Face­book, Tin­der). Bonus points for word­ing that car­ries per­sonal mean­ing you can later use to pro­mote your brand’s back story. Go to Esearch.cipc.co. za to see whether some­one has al­ready trade­marked your ‘irst choice. If not, ap­ply ASAP with the CIPC on the same web­site.

2

File the Forms Reg­is­ter your busi­ness to make it to­tally le­gal. The whole process will cost about R600 and can be done at www.cipc.co.za.

3

Lock Down a URL Typ­i­cally, [brand name]+[in­dus­try] set­ups work well (for ex­am­ple, Milk­makeup.com). Check what’s avail­able by search­ing the Whois.net data­base. Claim your do­main name via host sites such as Namecheap, DreamHost or Go­Daddy, all of which charge about US$15 (about R200) a year.

4

Get a Com­pany Reg­is­tra­tion Nº You’ll need one to open a busi­ness ac­count, ap­ply for li­cences and per­mits, and pay taxes. Ap­ply at www.cipc.co.za for about R175. Not all busi­nesses need to be regis­tered right away. You can trade as a sole pro­pri­etor – but while this means less ini­tial pa­per­work, you’d be li­able for any busi­ness debt and you’d have to in­clude your busi­ness in­come in your per­sonal tax. Whether or not to reg­is­ter your busi­ness will de­pend on how much money you make and the amount of debt you could be li­able for.

5

Open a WorkOnly Bank Ac­count Use this – not your per­sonal one – to pay for le­gal and in­surance fees, man­u­fac­tur­ing costs, of­fice sup­plies and what­ever else you need to keep the lights on. You’ll only be able to get a busi­ness bank ac­count if your com­pany is for­mally regis­tered; how­ever, it’s pos­si­ble to open a sep­a­rate per­sonal ac­count to keep your com­pany’s ‘inances sep­a­rate, too.

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