Make It Official
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.
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.
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.
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.
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.