Registering a business has many advantages

While it may seem like a daunting process, it’s quite simple

Starting a business can seem like a daunting task, but it’s easier than you might think.

This series of articles will walk you through the steps necessary to start a business, from drafting a business plan to registering your company and everything in between.

In our last issue, we discussed the importance of creating a business plan.

This week, we’ll focus on the steps involved in registering your business with the appropriate institutions.

This will ensure your company is operating legally and has all the necessary licences and permits.

As Bayanda Mpahlwa, a business advisor at the Small Enterprise Development Agency (Seda), points out, there are several advantages to registering a company.

“Company registration can protect you from personal liability, and it can also give your business more credibility with development agencies and funding institutions.

“In addition, it can simplify your legal and tax situation, and it can give your business reputation. Company registration”can also make it easier to get a business loan or open a business bank account, which are essential resources for any new business.

Mpahlwa goes on to say that a company’s bank account is one of its most valuable assets.

Registering a business may sound like a daunting task, but Mpahlwa assures that it’s quite simple.

“Registering a company is easy. Once you’ve identified potential business ideas, you can formalise the business by registering it with the

Companies and Intellectual Property Commission [CIPC] online platform or through a consultant,” he said.

The process requires one to create an account on the CIPC website, complete an online application form, and pay the required registration fees.

Once the application is approved, you’ll receive a company registration certificate and number.

Alternatively, Bizportal is a more user-friendly platform that makes it easy to navigate the company registration process and allows users to access

CIPC’s services. This is where you create an account, complete the registration application, and pay any required fees. The platform offers customer support services to assist you.

Mpahlwa says the requirements for registering a company include being at least 18 years old, listing four proposed business names in order of preference, providing a contact number and address, and providing an email address.

While some may think that registering a business is costly, this is not the case if you register through the CIPC, which only charges R175 for registration.

“To register a business through CIPC, one must first create an account and deposit funds into the dedicated bank account. Name reservation usually takes one to two days.

“Once the name is approved, you can start entering the directors’ information with the approved business name.

“The business will be registered within one or two days, and the certificate will be sent to your email address.”

CIPC is also responsible for the registration of intellectual property, such as trademarks, patents, and designs.

Company registration can protect you from personal liability, and it can also give your business more credibility with development agencies and funding institutions. In addition, it can simplify your legal and tax situation, and it can give your business reputation