How to create a Professional Company for under R3 000.00 in only two weeks

Company Partners

So, you want to be your own boss, but you don’t know where to start? Here’s how you can set up your very own professional Company in three easy steps in under two weeks. No queues. No drama. Your future starts today.

Whether you want to grow your side hustle into your main source of income or whether you want to turn a great idea into an actual Company, setting up a professional Company for success is much easier than you think.

Thanks to Company Partners, a company that specialises in delivering Company Documentation and Start-up Services within record time, you can register your Company; develop a brand new logo and get a professional website within the next two weeks for only R2 970.00.

All you need is access to the internet, so you can submit the necessary documents via their sophisticated online system, and the determination to do what it takes to grow your Start-up into something spectacular after receiving your registration, logo and your brand new website from Company Partners.

Here’s exactly what you need to do to set up your business:

STEP 1: Get your Company registered (R990.00)

Do you have clear idea of what your product or service is; can you think of 3 to 5 Company names for your business; do you have an ID and a South African home address? Well then that’s all you need for the first step.

Simply sign up for a new Company Registration by clicking right HERE and Company Partners will let you know exactly what you need to submit via their online system in order for them to register your Company at the CIPC.

Then allow about 8 working days for your documentation to be processes and voila, you’ve got yourself a professional, registered Company.

Registering your Company allows you to apply for more Tenders and Contracts; it enables you to get an official business bank account and it minimises risk, because a registered PTY Company is considered a separate entity to an individual. This means there’s a smaller chance of you losing your personal belongings, if your business ever goes bankrupt.

It’s also a necessity to have a registered Company if you’d like to register for a BEE CertificateTAX Clearance or a Letter of Good Standing.

Company Partners’ limited special: get a Shareholder Agreement for only R1890.00 (SAVE R1000) from 15 – 31 March 2017 only! Call our Toll-FREE (from landlines) number, 0800 007 269, today to get your Shareholder Agreement special or click HERE to learn more.

STEP TWO: Get your own Company Logo (R990.00)

In order for you to function like a professional business, you need to look like one. Having a logo is the first step in differentiating your Company from all the other businesses out there.

You can develop a unique logo that’ll represent your Company to the world within a week. Company Partners’ logo service allows Start-ups to work with a professional designer at an affordable cost.

Just click HERE to order a logo today and HERE to see some of the logos Company Partners has designed for their clients.

STEP THREE: Get a Professional Website (R990.00)

Nothing conveys how serious you are about your business like a high quality website.

You can send all your potential clients to your website, where they can learn more about your products or services, your pricing and your contact information directly from their smartphones.

Just click HERE to order a website today for only R 990.00.

You can also check out previous examples of websites created by Company Partners by clicking right HERE.

Keep in mind you’ll have a monthly hosting cost of R75.00, but you’ll have your own website address, website design and up to 10 professional email accounts if needs be.

You can even add an online shop, so your clients can order products directly from your website, at an small additional charge.

Contact Company Partners today if you’d like to set your Business up for success on the following toll-FREE (from landlines), number: 0800 007 269.

5 Signs you’re an Entrepreneur

Wondering if you have what it takes to run your very own business? We’ve narrowed it down to the top tell-tale signs.

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Just do one simple search on Google and you’ll find an endless list of entrepreneurial qualities, all described as the trademarks of a successful entrepreneur: passion, business focus, drive, confidence, innovation, persuasiveness, determination, independence, curiosity, risk-taking, adaptability, self-discipline and the list goes on.

Not even Bill Gates have them all.

Luckily, the real determining factor, according entrepreneurial researcher Jesper Moe, is not whether or not you’re born as a “super-individual” with all these qualities, but rather whether or not you choose to develop these entrepreneurial qualities throughout your life. Thus, your attitude.

According to his paper, A Meta-analysis on who become Entrepreneurs, “becoming an entrepreneur is a possibility even if the individual is not in possession of the traits needed” as it’s more than possible to get help towards becoming entrepreneurial.

That’s why we’ve compiled a list of 5 real signs you’ve chosen the road to entrepreneurial success, rather than a list of qualities that you could Google in anyway. Here you go!

 

  1. You want to learn something new everyday

You’ve got the secret all figured out: knowledge is power and we all start out knowing nothing. Even Richard Branson had to start somewhere.

To you, finding the road to success is a matter of soaking up as much know-how and info as soon as possible.

You read books and business articles; you attend workshops; you watch YouTube videos on entrepreneurs and you dive into conversations with leaders in your industry or people you admire.

The only real failure is going to sleep tonight with the same amount of knowledge you had yesterday.

 

 

  1. You’re on a daily mission to improve yourself

Just like anyone else, you were born with a set of strengths and weaknesses that you did not choose. It’s how you use those strengths and how much you underplay or work on your weak points that determine how much you can achieve with what you’ve been given.

According to Vivek Wadwat, a research director at the Duke Center for Entrepreneurship and Research Commercialization in North Caorlina, it’s still one of the most common misconceptions that people are born entrepreneurs.

“Although some research indiciates that entrepreneurship skills are genetic qualities, anyone lacking theses skills can learn them or develop weak qulities into strong ones,” explains Wadwat.

If you’re dedicated to honing those entrepreneurial skills that don’t come naturally to you, for e.g. business focus; confidence; innovativeness or self-discipline, you’ve chosen the road to success.

 

  1. You’re willing to take action, even if it’s risky

“Anybody can think up an idea for a business, but not everyone can put rubber to the road and actually grow something that both matters and earns money,” explains entrepreneurial blogger Caleb Wojcik. “Taking action is the difference between entrepreneurs and non-entrepreneurs.”

Sure you can fail, but Rome was not made in a day. It also did not build itself. A great idea means nothing if you don’t invest the time, money or effort needed to see if it can actually work and that usually requires taking some sort of risk.

Whether that means going into your own business full-time, investing some of your saving or simply sacrificing your free time to develop your business in the evening, while you pay your bills with your day job.

 

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  1. You have a passion to change the world for the better

One of the most common entrepreneurial traits mentioned in business research is opportunity spotting. This simply means you have the ability to spot problems in the world and solve them – like a real-life superhero.

Finding needs that are unmet within your community and investing your time and energy to find sustainable ways to fulfil those needs on an on-going basis is not only the basis of a good business plan, but also a sure-fire way to better the world.

 

  1. You’re ready to get up after failure, every time

If you Google quotes on success, you’ll find an overwhelming amount of them are focused on overcoming failure. The reason being, failure is both inevitable when you try new things and it’s necessary to finding new and better ways of doing things.

Hollywood director Steven Spielberg was rejected by multiple film schools, Steve Jobs was fired from his own company, Apple, back in the day and the famous fashion designer Vera Wang was a figure skater who never made the Olympic team.

Former UK Prime Minister Winston Churchill summed it up perfectly: “success is the ability to go from failure to failure without losing your enthusiasm”.

That’s why adaptability is one of the key qualities associated with successful entrepreneurs. You have to have the willingness to take risks and then you need to be willing to get up and change things up when they don’t work out as you planned.

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What is Workman’s Compensation (COID) and why do you need it?

For the sake of unexpected events not costing you your business, we’re giving you all the important info on Workman’s Compensation and why SA Law requires you to protect yourself and your employees.

Leg and yellow helmet of injured lying worker at work.

Imagine this: you’ve employed your first employee. A later, your employee walks up the staircase leading to his office, eyes fixed into his cellphone screen, he trips and ends up with a serious spine injury.

As the injury occurred when your employer was on duty, you’ll probably have to pick up the medical bill, despite it being a little under R100 000.

You probably can’t dish out that kind of money and your employee needs to have the medical attention he deserves, which is exactly why the Department of Labour created Workman’s Compensation.

How does Workman’s Compensation work?

Workman’s Compensation is a type of insurance, instituted by the The Compensation for Occupational Injuries and Diseases Act. It protects employers from dooming civil claims and enables both casual and full-time employees to claim compensation directly from the Fund for work-related injuries and disability.

It even enables the dependents of an employee to claim compensation in the case of a work-related death.

You pay a yearly fee, determined as a percentage of the amount your business spends on salaries, and in turn the fund will help cover all your employees’ medical bills or compensation in the case of death.

However you need to register first. It can take up to months if you sign up via the Labour Department. That’s why using a service provider like Company Partners, is a great idea. Company Partners will assist you in getting registered in under three weeks.

More reasons to sign up for Workman’s Compensation:

  1. It’s the law. The Labour Department requires any employer with one or more employees to register for Workman’s Compensation.
  2. It can save you from bankruptcy. Large, unexpected medical bills can easily sink a small business, as hospital fees or ongoing medical expenses may amount to thousands per year.
  3. It helps with Tender applications. Tender applications usually require a Letter of Good Standing. As the law requires employers to register for Workman’s Compensation, you can only get a Letter of Good standing, if your Workman’s Compensation payments are up to date.

Important info to keep in mind

  • Outdated payments mean no coverage. It’s your responsibility to reregister your company and pay your annual Workman’s Compensation assessment fee. If you don’t the Fund won’t protect you or cover you employees. Company Partners reminds their clients when annual payments are due.
  • You might need more than one registration. Different branches within one company usually require different Workman’s Compensation registrations.
  • There are exceptions. The Compensation Fund won’t cover the following employees, according to the Compensation for Occupational Injuries and Diseases Act:
  • workers totally or partially disabled for less than 3 days;
  • domestic workers;
  • anyone receiving military training;
  • members of the South African National Defense Force, or the South African Police Service;
  • any worker guilty of willful misconduct, unless they are seriously disabled or killed;
  • anyone employed outside the RSA for 12 or more continuous months;
  • workers working mainly outside the RSA and only temporarily employed in the RSA

If you’d like to get your Workman’s Compensation registration in order in record time, click right HERE

You can also opt for the COID Package, which includes a Letter of Good standing, by clicking HERE

You can check out the Labour Department’s basic guide to the Act, by clicking HERE

6 Free Services to Grow your Business in one month

Let’s be honest, being an entrepreneur is tough. You need to drive every aspect of your business singlehandedly, like an expert – without having years of experience; truckloads of cash; or prestigious business qualifications. That’s exactly why Company Partners teamed up with South Africa’s leading Brands, in Business Growth, to give you some well-deserved support for FREE.

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If you sign up for any ‘Registration’ or ‘Empowerment’ Service at Company Partners, you’ll receive a month’s access to 6 helpful Business ‘Growth’ Services, at no additional cost.

This means, while you’re getting your company’s documentation via Company Partners, you’ll also have access to 6 different Specialist Services for an entire month.

 

How to get FREE access to all these services?

Just take your pick from Company Partner’s wide variety of Registration and Empowerment Services, designed to assist you with ALL your business’s legal documentation.

These services all differ in pricing and each of them are tailor-made for everything from Tender Compliance to specific industries. You can check out a full list of offered services by clicking HERE.

 

The low-down on free services and how they can boost your business within a month

 

1. MiOffice’s Landline and Reception Service

Thanks to MiOffice you’ll get your very own landline and receptionist (for incoming calls) for free. You don’t even need an office.

MiOffice assigns a remote receptionist to an area-based telephone number of your choice. Your assigned receptionist will answer and redirect all calls to you. If you’re not available, your receptionist will SMS the caller’s details to you, at no extra cost.

If you can’t live without your new receptionist after your free one-month access, you can continue the service for R 450.00 per month.

Click HERE for more info.

 

2. TradeWorld’s – Business Opportunities Alert

Tenders mean big business, but very few entrepreneurs have the time, resources or money to search through hundreds of newspapers, websites and bulletins to find the right Tenders to apply for.

TradeWorld’s Leads and Tender Notification service will help you find the perfect Tenders, by mailing you on a daily basis of any tender relevant to your business profile and geographical region.

This service also includes unlimited access to tradeworld.sap.com and access to RFQs, which are below formal Tender value. Additionally, you’ll receive weekly Tender How2Tender hints and tips to ace those often complicated and confusing Tender applications.

After your FREE month has expired, you can sign up for as little as R365 (excl vat) per month, that’s an investment in your business of R16.00 a day.

Click HERE for more info.

 

3. Finance Connect via FinFindEasy (a SEDA partner)

Getting the right Loan, Grant or Investor to support your business is definitely one of the most challenging tasks as an entrepreneur. FinFindEasy, in association with Company Partners, will provide you with expert financing options.

You’ll receive access to FinFindEasy’s finance filtering system; a system, which allows you to find relevant financing options from the 300 options out there, based on your company’s location and its setup.

You’ll also have access to Finance Specialists, who will assist you with mapping out your Company’s best options.

Click HERE for more info.

 

4. Invoicing, Payroll and Accounting via Sage

Sales. Suppliers. Invoices. Inventory. Payroll… Things can get pretty complicated in terms of finances when you run your own business.

Which is why Company Partners offers you Sage One, user-friendly and online accounting software, perfect for the entrepreneur.

Using this software, you can instantly create invoices; track your finances and give your accountant access to all this data from one central point. Plus, you and your accountants can access it from almost any device with an Internet Connection.

With Sage One you can track sales, inventory, suppliers and purchases per client. Plus you’ll stay ahead of your payroll and all your due payments.

If you love this nifty software too much to let it go after your month’s complimentary access, you can sign up for R185 per month.

You’ll also have access to Company Partner’s accounting expert, readily available for consultation on monthly accounting services.

Click HERE for more info.

 

5. RaizCorp’s Business Growth Programs

Knowledge is power in the game of Entrepreneurship. Soak up valuable entrepreneurial know-how by using your FREE access to RaizCorp Business Growth programs.

RaizCorp coaches operational entrepreneurs by disclosing advice, motivation and business insights to help you take your business to the next level.

The best part is, you don’t have to pay up after one month. As a client of Company Partners, they sponsor almost all the programs you’d like to attend.

For very specific programs there may be an administration fee of R350, but more often than not these programs won’t cost you a thing.

Click HERE for more info.

 

6. Yellow Page’s online Business Directory

Register your business and its services or products for free on Yellow Pages’s online business directory when using Company Partners for company registration or other documentation services.

Registering on Online Yellow Pages might even help your company feature on the first pages of Google (locally) when potential clients search for your company.

Marketing Consultants from Online Yellow Pages will contact you after your free month has expired to advise you on your company’s marketing needs. Thereafter you can choose a package that suits you, if you’d like to continue this service.

Click HERE for more info.

 

What are you waiting for?

Contact us to place your order – and don’t forget to mention which FREE Services you want included in your package.

Email our support desk at support@companypartners.co.za or call our Toll Free number (from landlines) during business hours, at 0800 007 269, for free consultation. Terms and Conditions apply.

The road to Tender success in 4 simple steps

Illustration Of Two Businessmen Shaking Hands

Winning Tenders means big businesses. Unfortunately, the application part is complex, time-consuming and labor intensive. Why not use the experts and boil the process down to 4 easy steps?

 Before you can bag a great contract to boost your business, you first have to find that perfect tender and submit a successful application. This always involves a ton of paperwork and proof of compliance with multiple requirements, as a method to weed out all the unfitting applicants.

Your ability to comply with the complicated application requirements in your Tender can be just as important as your business’s ability to successfully complete the project’s objectives, at a competitive price.

You could spend many frustrating hours working through this process by yourself or you can opt to use the experts, who know exactly what you need and how to get it as soon as possible.

Simply follow these four Tender steps to make things simpler for yourself:

1. Sign up with the documentation experts

There are a few basic documents that most Tender applications require.

Company Partners, a team of dedicated experts in tender documentation, can assist with getting the following documents, in record time:

  • A Registered Company Document (vital for any governmental Tender)
  • Tax Clearance Certificate
  • BEE Certificate
  • Shareholders’ certificates
  • Letter of Good Standing at the Compensation Fund
  • Many others as required by an industry

How to get your vital documents? Call Company Partner’s advisors for a FREE consultation at 0800 007 269 (toll-free from landlines) or just click HERE  to sign up for Company Partner’s Tender Package.

2. Sign up for Tender Notifications and a booklet on How-To-Tender

Before you can establish, which supplementary documents you need to submit, you’ll have to find the Tender you’d like to apply for.

You can either sift through multiple newspapers, bulletins and websites to find relevant Tenders or you can simply sign up to an online Tender Notification Service, which sends you industry- and area-related jobs right to your email.

If you do decide to sign up to Company Partners’ Tender Package, you’ll receive a month’s subscription to the “Trade World Tender Leads Service” FREE for a month.

TradeWorld’s tender service will send you personalized notifications based on your location and your business profile / industry. You’ll also have access to the available RQF’s (all projects below the formal tender value of R500 000).

Then you need guidelines of how to actually complete a tender application. Therefor you will also receive a booklet of the most important tips on ‘How to Tender’ (with weekly updates) FREE!

How to get FREE Tender Notifications and a booklet? Just click HERE for your FREE month’s subscription to TradeWorld Tender Notification Service, as part of Company Partner’s Tender package.

3. Collect your supplementary documentation

Depending on your specific tender’s requirements, you usually have the following documents left to submit (as certified copies), besides your proposal:

  • ID documents of the Directors or Members
  • Audited/reviewed financial statements of the last 3-years
  • Proof of Public Indemnity Cover (proof that you have insurance on any harm that may come to your employees, while they are at work)
  • Letter of Guarantee (a form of insurance from your bank, assuring that you will spend the allocated Tender money as promised)
  • Proof of Industry membership and compliance (documentation to prove your membership and compliance to the required institutional industry bodies)
  • Depending on your industry, Company Partners can also supply you with the services above.

4. Attend Workshops – to write your proposal based on expert-advice

You need an excellent proposal and a competitive price to bag a Tender.

To find out which elements make up an excellent proposal or appropriate pricing you can use the Tender Info provided FREE along with Company Partners’ Tender Package or you can attend any of TradeWorld’s How2Tender workshops:

  • 20 September and 22 November – SAP Offices Johannesburg
  • 4 October – SAP Offices Cape Town

How to sign up for workshops?  Just click HERE for your FREE Tender Info, as part of Company Partner’s Tender Package or email us for more information on the tender workshops: support(at)companypartners.co.za

That’s how you pave your road to Tender success!

Finding the right bank

The entire proses of starting a new business can be a lot to deal with. You might think that it is a complicated proses, that is until you realize that you will still need to choose a banking institution for your business. There is quite a lot of banks to choose from when you start to look around for a possible bank to use as your business’ bank. Each bank offers a different banking structure and different fees and services for businesses. They also have bank accounts that have been tailored specifically for business.

The most important thing will be to determine the services that you will be needing from your bank. These needs will differ from business to business and these needs will determine the bank you will ultimately go with. So be sure to spend some time thinking about your business, its structures and the support you will need from your financial institution.

Below you will find a brief explanation of what each of the major banks in South Africa has to offer for business.

First National Bank 

First National Bank offers a First National Bank’s business account for businesses. According to FNB, this account is ideal for sole proprietors, partnerships, companies, close corporations, incorporated businesses, trusts and co-operatives.

ABSA 2

ABSA has the Small Business Cheque Account and the Absa Biztransact Account to offer. The latter is a current account that is ideal for small business. This account offers a transactional account, but does not offer a cheque book or an overdraft.

Nedbank

Nedbank has a business account to offer, which is specifically designed for small business. The bank account also offers a banker service which can assist with specific business needs and the internet banking of this account is also customizable.

Standard Bank 

Standard Bank has a business banking current account, as well as a Bizlaunch account to offer. The last mentioned account is specifically designed for startups and entrepreneurs. The Bizlauncher account will convert to a business banking current account after the first 12 months of doing business at Standard Bank.

Capitec Bank

Capitec  Bank offers business services to customers but does not have any business accounts to offer at this point. According to the bank’s website, this bank does not offer any bank accounts for close corporations, companies, partnerships or trusts.

You can also consider the possibility of giving the responsibility of registering your company to the professionals. Pty Company Registration offers a professional service to handle the entire proses of registering your company. Feel free to contact them today to find out how to get the proses started.

This just gives you an overlook at the different bank in South Africa and what they have to offer to businesses. From here on you will need to research these banks separately in order to determine which one of these banks suit your business’s needs best.

For assistance with starting a company please, Click Here for more information.

FIND MORE ARTICLES ON OUR BLOG – click here

 

The Importance Of Your Domain Name

It does not matter in what type of business line you are in, being close to your customers is always essential. This is mostly a very important decision to make for online businesses, but even stand-alone businesses can benefit from it. Having the right domain name has proved to be one of the things that promotes the success of your business.

Domain Name

Once again location plays an important role in your business. It is no longer just for stand-alone businesses an important decision. Online businesses should also be very careful when they chose a domain name and a website host.

The first decision will be to choose which domain you will use. Once you have established this, you have almost completed the hardest part of the entire proses. It has recently been announced that South Africa will be receiving quite a lot of new internet domain names. For international companies in South Africa, it will still be best to make use of the most common domain name, ‘.com’. It is universally used for companies that do business all over the world.

The new domain names that companies in South Africa will be able to use include the following:
 .africa
 .joburg
 .capetown
 .durban

These are just examples of the geographic top level domain (geoTLD) names that will be made available to South Africans. People in other parts of the country and the world will still be able to see them on the internet, but when using these tags, the specific companies will be able to attract more potential clients in their immediate environment.

A general rule of thumb was to always use a short word as your domain name. This trend, however, started to fade away over the last few years. It has become more usual to see companies with longer domain names, or even phrases are now used. The key to choosing the right domain name for your company is to choose one that will be easy to remember, unique and that will describe your company best.

Companies should consider registering domain names similar to their company’s domain name. Some competing companies might try to register a similar domain name to your company’s to cause confusion.

There are almost 950 000 domains registered with the domain ‘.co.za’.You can log on to www.domains.co.za to see if the domain name that you are think will be suitable for your company, is available. When you find that it is available you can contact Pty Company Registration to get the proses of setting up your domain, started.

Having the correct domain name will work wonders for the website for your business. So have the experts assist you to achieve the ultimate potential of your business’s website.

FIND MORE ARTICLES ON OUR BLOG – click here

What is a Trade Mark and how will it help your business?

Your brand is your hard-earned property. If you’d like to protect your asset, registering your logo and company name as a Trade Mark, might be a good idea. Here’s exactly why and how you should register Trade Marks for your business.

Register

If you want to understand Trade Marks, you need to understand Intellectual Property. You can’t physically touch Intellectual Property, but in eyes of the Law, it’s considered an asset like any other, for e.g. property.

However, because determining Intellectual Property is a bit trickier than determining ownership of physical assets, registering your Trade Mark might be a good idea to help stop anyone else from claiming, using or mimicking your brand.

Also, once you’re registered, you get a nifty ® symbol added to you Trade Mark which scares off potential offenders. You registered Intellectual Property also adds value to your business’s total worth – if you ever decide to sell your business.

 

The difference between Trade Marks, Patents and Copy Rights

In short, Trade Marks, Patents and Copy Rights are just different ways to protect different forms of Intellectual Property.

Patents are used to protect inventions. Inventions can be anything from new forms of medication to significant improvements to existing machinery – as long as the invention is non-obvious, useful (because mere ideas cannot be registered) and completely new or state-of-the-art.

Patent rights will legally deter others from making money or using your invention, without buying those rights from you, for a maximum of 20 years. After that it’s considered fair game for all.

Copy Rights are rights that are automatically given (here, there’s no need for registration) to the author or creator of original publication or production work. Works like photographs, films, literature and even computer programs all fall into this category.

The author or creator retains exclusive Copy Rights to use, distribute and sell the work or the Copy Rights, a glorious 50-years after death (straight after death these rights fall to whomever inherits the creator’s assets). That’s why historic photographs or illustrations and classical music are considered public domain.

Trade Marks are used to protect branding elements, which distinguish you from your competitor, like your logo and your slogan or even patterns (like Burberry’s definitive check pattern) or packaging (like Coca Cola’s classic glass bottle shape). Trade Marks can offer you a lifetime exclusivity provided you renew it every 10 years and you don’t sell it to someone else.

 

Intellectual Property Rights: Things to keep in mind

It’s limited to local trade: Intellectual Property Rights are limited to the country they are registered in; you have to register in every country you want to trade in / with. Copy Rights can often extend to some other countries.

It’s limited to your trade: Trade Marks are registered according to categories called Classes (the industry in which the business trades in). If you trade in multiple Classes, you’ll have to register your Trade Mark for all of them.

 

How to register your Trade Mark and protect your brand

STEP 1: Apply through professionals 

Company Partners’ Legal Department specialises in Trade Mark Registrations. We will fast track your Trade Mark Phase #1 Registration to an estimated 40 days, whereas registering directly with CIPC may take up to several months. Click HERE to order your Trade Mark registration with us.

STEP 2: We do the specialized preliminary search for you

We do a preliminary search for you, to determine whether or not there’s a registered Trade Mark that’s similar to your brand.

If there is, we’ll help you make the necessary adjustments – this process might take 6 to 8 weeks.

You can do an online search yourself by clicking HERE, but our experts will do it for you, if you’re signed up with us.

STEP 3: Your application gets processed

Once that’s done, your application will be submitted to the South Africa’s Trade Mark registrar for Phase #2 Registration. If everything goes well, you’ll be a proud new owner of a Trade Mark!

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How to do market research

Market research is one of the most important things you will ever do. Market research will form the basis of your business. It can also be the deciding factor whether or not you will start your business at all. As soon as you have come up with a business idea, is not time to run to PTY Company Registration to get your business registered, but to do market research. It is a vital part that a lot of inexperienced entrepreneurs tend to forget in the excitement of the idea of having their own business.

market research

Before you start doing market research, you will need to determine the exact focus of your business. This will be necessary for the fact that you will need to know what you are researching the market for. Your market research should be goal orientated.

You might be wondering what the real purpose of market research is. It is done to determine whether there is a need in your community for the product or service you are looking to deliver. It will also help you with the following:

  • To estimate how many sales you can expect over a certain period.
  • It is a method to test the demand for new product and service ideas in your community.
  • It will help you identify and understand trends in the market that might affect the sales of your product.
  • It will also help you to identify the needs and characteristics of the people that might be interested in your new product or service.

When you are doing market research, it is important to remember to remain objective in your research. You should see the facts for what it is and not to be over optimistic over something that you might not be able to change. It is better to change your product or service than to provide it when there is no need in the market for it.

 Knowing what to ask

When you are doing market research, it is important to ask the right questions. The right questions will provide you with the right answers in regards to your business idea. Use the following ideas as a guideline for questions to ask when you are doing market research.

  • To which group of people will your product or service appeal to?
  • What will be expected from your product or service and will you be able to deliver it?
  • Are people spending money on similar products?
  • Will people be prepared to spend money on your product or service?
  • Identify a number of potential clients for your business.
  • Are there other businesses offering similar products or services in your community?
  • Are there any gaps that you can fill in the market?
  • How will your prices do against other competing businesses?
  • Is it likely for other similar businesses to enter the market?
  • Do you need certain skills to run your business?
  • Will you be able to run an entire business and still make a profit?

You can get answers to these questions by means of questionnaires and interviewing people. You can also make use of the internet do read up on similar businesses and how they structured their business to obtain maximum return.

It is only once you have determined that the market is ready for your business idea, that you can begin to register your business.

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Being stuck behind a desk

Differences are what makes our world interesting. It also creates diversity in the products and services that are available to the public. This is what entrepreneurship is all about. Finding unique and different ways to approach the gap in the market. Sometimes you might find yourself in an unfulfilling working position. Being stuck behind a desk is one of the worst things that can happen if you are not an office person. Sometimes, the only thing you need to reinvent your career, is a change in scenery.

Desk

 

Luckily there are multiple ways you can achieve this. There are quite a few businesses out there that will offer you freedom from the desk and you will be able to pursue your entrepreneurial instinct while at it.

Mentioned below, you will find a few business ideas that you do not hear about every day, but they are a sure thing to try if one of them jumps out at out.

Tourism

This is a business opportunity that will be ideal for parts of South Africa that has a rich history and a lot of tourist attractions. This is a brilliant opportunity for entrepreneurs to get their creative juices flowing.

You can do anything that you put your head to. Whether it is to take tourists on a tour bus and show them their surroundings, or taking them for a walk to some of the remarkable sights in the area. You can even open a shop that sells souvenirs to the tourists.

An important thing to remember is that you will need to identify the peak times of the year and ensure that you plan head for the busy and, just as important, the quieter times. Also, be sure that whatever you choose to do is in demand. When you do this, you can be sure that your tourism business will be a success.

Be an organizer

If you have organizational skills, but do not like working from behind a desk, this is the perfect opportunity for you. You can be an event organizer. You will be out and about, talking to different people and having something new and different to do each day.

You can even specialize in the future if your business is taking off. You can organize events such as large functions, weddings and parties. This all will put you on the road to success, while still making optimal use of your skill set.

Be a tutor 

If you like to teach people and did reasonably well in school, this might just be the answer. If you did not like the idea of being a full time teacher and being restricted to your classroom behind your desk, being a tutor is the best option for you. You do not necessarily need to work with children; you can also be an adult tutor. Whichever fits your personality best, will put you on the road to success.

These are just some of the alternative jobs you can pursue that will not ask of you to sit behind a desk all day. You will get to interact with a lot of other people. There are other options like running a kitchen, taking care of animals and even becoming a car specialist.

Find what you love to do and do it as often as you possibly can. In this way you will not feel trapped in your career and you will actually enjoy it. Write down what you like to do and find ways to turn that into a career.

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Holding Companies Explained

Business magnates use it. Small family businesses use it and you can use it too. The structural advantages of Holding Structures (most commonly known as Holding Companies) can help you manage multiple services, products and even businesses under one Holding Company. Here’s the break down on Holding Companies.

Holding Companies

A Holding Company is the mother ship. It holds various businesses within one corporate entity. That means, it’s the perfect way to structure various services or products within one corporate group without having to keep them all within one company.

Thousands of South Africans use a holding structure to setup their business. This structure can limit financial risk and assist you with branching out to new industries. Click here to read more.

Why choose a Holding Company?

A Holding Company is perfect for entrepreneurs looking to branch out to new business prospects; prospects that don’t quite fit into their existing companies.

It’s also great for business owners who want to compartmentalize different departments, services or products.

Actually, anyone looking to limit the financial risk of having various trades within one company can opt for a holding company to keep risk factors limited to specific divisions.

A Holding Company also makes it less risky to team up with business partners in new ventures; you won’t have to expose your existing company to the risk of failure your new business poses.

How does a Holding Company work?

In essence a Holding Company is a parent company, which owns various businesses (or at least 30% of their issued shares). A Holding Companies doesn’t trade in services or products itself, it merely has ownership in various companies that do, holding them together in one corporate entity.

Interestingly, Investment Holding Companies use this holding structure to attain shares of various promising or profitable businesses within one Investment Company. However, it’s perfect for the everyday entrepreneur too.

What is an example of a Holding Company?

Let say, David has a booming home painting company in Randburg called NuHome Painting. His nephew, George, has worked at renovations businesses before, building custom cupboards, in the same area.

David would like to branch out business to home renovations in Pretoria, starting a venture with his skilled nephew. However, he doesn’t want to put his current company at risk, if the family venture goes sour.

So David registers a Holding Company called NuHome Holdings to facilitate this expansion.

Holding Companies

NuHome Holdings acts as a parent company to both his established painting business and his newly registered Renovation Company (which he shares with his nephew). David’s Home Holdings owns 100% of the shares of his established business and 50% of his shared business.

This way these two businesses operate completely independent to one another within one larger entity owned by David, plus David and George have the opportunity to generate a new company name, NuHome Renovations, tailored to their new service, rather than automatically using David’s existing business to trade.

This allows NuHome Renovations a better chance at winning Contracts and Tenders relating to renovation jobs. The same goes for NuHome Painting regarding painting work.

Additionally, David can venture into brand new industries at any time, like selling beverages for instance, simply by registering a new company owned by his Holdings Company.

 What are the disadvantages?

The paperwork and start-up costs and will be slightly higher. You will have to register every business you’d like to run as a Subsidiary Company to your Holding Company.

Also, if the Subsidiary Companies to your Holding Company have various owners, it can be difficult to close a Holding Company, as there are multiple owners to consult. 

However, if this business structure might help you better manage various parts of your business or numerous Companies, the long-term benefits are worth considering.

If you’d like to register a Holding Company, CLICK HERE to look at our great Holding Package.

Alternatively, if you have any queries you can call us on our TOLL FREE phone number (landlines): 0800 007 269 or email us via support@companypartners.co.za

Corporate Income Tax

You can call it what you want, but income tax is a sure part of our life. Every legal entity that generates an income is liable to pay one or other form of tax. The same is applicable to companies. Corporate income tax is a tax that is imposed on any business that is incorporated under the laws of South Africa.

Income Tax

The South African Revenue Service has recently launched a new and exciting ITR14 return. This was done in order to aid in the modernization of Corporate Income Tax. This also plays a part in the improvement of efficiency and compliance within SARS. Small businesses should remember of the legislative amendments regarding the ‘Gross Income’ threshold and progressive tax rates.

Corporate Income Tax is applicable to the business that will be mentioned below, but is not restricted to them. The Income Tax Act of 1962 included these types of companies to pay income tax on all the income that they have generated in a financial year. These companies include:

  • Listed public companies
  • Unlisted public companies
  • Private Companies
  • Body Corporates
  • Close Corporations
  • Co-operatives
  • Collective Investment Schemes
  • Dormant Companies
  • Small Business Corporation (s12E)
  • Share Block Companies
  • Public Benefit Companies.

 How to get registered for Corporate Income Tax 

The first step will be to get your company registered as a taxpayer. Every business that is liable to taxation under the Income Tax Law of 1962, is required to be registered with SARS as an income tax payer.

Next, you will have to submit your annual tax return. Every registered tax payer, a person or a company, is required to submit a return of income. This should be done 12 months after each financial year. A company can submit their filing electronically via SARS’s e-filing or manually at a SARS branch.

You are also liable to submit provisional tax returns. There payments are to be made every six months. This must also contain estimate figures of the total revenue earned for that period. When you submit your return, you will also be required to give the SIC code for your business. This code can be obtained on SARS’s website.

Before you submit your ITR14, you should ensure that your company’s details are up to date.

When should you pay your Corporate Income Tax

Provisional tax is to be paid in accordance with the following framework of terms:

  • The first payment is to be made within the first six months from the beginning of the year that is being assessed.
  • The second payment will be made before or on the last day of the year that is begin assessed.
  • The third payment is to be made seven months after the year that is being assessed (for companies that uses February as their year-end). Six months after the year that is being assessed in all other cases.

SARS have made multiple methods available to their customers to make their payments of income tax. These methods include:

  • Online Banking
  • e-filing
  • Electronic funds transfer (EFT)
  • By cheque
  • Swift payment method (only to foreign payments)

Nobody wants to pay taxes on their hard owned money,  but in the end it is better to pay it and to get it over with. Do not try and avoid paying taxes, it will only result in major problems for your company. Do the right thing. Have your company registered and pay your taxes.

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Tourism in South Africa

South Africa possesses a unique quality that keeps attracting tourists in the country. No matter what the circumstances in the country may be, tourists just seem to keep returning for more of the South African culture. That is why the tourism industry in South Africa is so profitable.

Tourism

Tourism is one of the largest industries worldwide. There is no other explanation for it. South Africa poses something different that other countries do not have. Our country is rich in cultures and diversity. Together, we form a new culture, the South African culture. This is the way we interact with each other and how we treat other people, especially tourists.

People tend to travel for different reasons these days. It was normally just to go on vacation, but in today’s world, people travel for business purposes and many other reasons. Even these business people are seen as tourist, because they are visiting another place and they will most probably buy something during their period of stay.

Tourism is an industry that just keeps on growing in South Africa. There is a lot of people that are traveling within South Africa, but there are also a lot of international tourists that are visiting the country. One of the main attractions in South Africa is Table Mountain. For this reason, Cape Town always reports with high numbers of international tourist in their city.

According to the World Travel and Tourism Council, the tourism industry has contributed about 7% of the Gross Domestic Product (GDP) in South Africa.  The booming tourism industry also resulted in multiple employment opportunities for people. It also inspired a lot of entrepreneurs to start their own business around the tourism industry in South Africa.

It was established that the most tourists that the country receive, are from the African mainland. This was estimated at about 74% of all tourists. The remaining 26% of tourist, were tourists that visited from overseas. It was also confirmed that about 92% of all people visiting South Africa, came here for holiday purposes. The remaining 8% came for either business purposes or private reasons.

The Fifa Soccer Wold Cup in 2010 also brought in a relatively large amount of tourists from all over the world. The entire tournament was seen as a success, apart from Bafana’s performance, and most of the tourists gave positive comments and feedback on the tournament and on the hospitality of South Africa. In the few years following the tournament, there was also an increase in the yearly visitors to the country seen.

The government has made provision to educate and to inform young entrepreneurs on how to start their own, tourism based, businesses and most importantly, how to sustain their businesses. This is a brilliant platform to start a new business and there have been multiple success stories since the 2010 Soccer World Cup.

Tourism is an industry that is sure to remain an active industry for years and years to come. There are still multiple opportunities for entrepreneurs to make use of. South Africa has loads to offer to tourists. South African entrepreneurs should just recognize and seize the opportunities to deliver tourism based services.

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Transportation Businesses in South Africa

Transportation has formed a crucial part in our daily lives. Not only do we make use of our own transportation, but we also make use of public transportation and distribution companies. Without these transporting companies, there would have been one massive gap in our economy.

Transportation

The specific Transportation company that we will be dealing with in this article, is distribution companies, as well as logistic companies.

Some people tend to look excitingly out of their window when the spot a large transporting truck. There is no reason to describe this habit, but for some or other reason it keeps on happening. This might just be our subornation appreciating the work they do. Whether it is to count all the wheels, guessing what the truck is transporting or just getting the driver to sound his horn for you. What we do not always realize, is that being on the road is that drivers life, they travel long distances every day, ensuring that we have food in our stores and clothes in our shops. Without logistic companies, we would not have any of these.

This is, however, not the only type of transporting companies that plays an important role in our economy. Small courier vehicles, minibus taxi’s and pick-up form a part of this industry. All of them play a vital role in the sustainment of South Africa’s economy.

The director of a well known transporting company had said that starting a transportation and distribution company can be tough. The procedures to get your transporting company registered is easy, but making your way into the market is the real challenge. The main reason for the struggle, is that clients of transporting companies, are looking for businesses with a good reputation. Transporting companies should be reliable in order for clients to make use of them. For this reason, start up transporting companies find it hard to establish themselves in the market.

A lot of things can happen along the way that can have an impact on your transportation company. Unfortunately, this industry is not one of the cheapest. It is important to remember to not ever over indebt yourself while you are working in this industry. It is best to start small, gain a good reputation and building up a strong client basis. In this way you will be able to build your business with less debt and you can promote your transporting company’s chances of success in this way.

There are a number of things to keep in mind that some people tend to forget in the hype of starting their business. The following things are own to a transporting company:

  • Staff duty rosters
  • Vehicle schedules
  • Maintenance programs

These are just three things that can have a major impact on the success of your business. When you have these things sorted out and in place, your transporting company is set up for success.

As mentioned earlier, the transporting industry is an easy business industry to enter. The tricky part, however, is to sustain the business you are starting. It is important to remember that anyone with a small pick-up can start a transporting company, so do not focus solely on the larger companies. You can always start small and work yourself up to bigger and better things.

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The Communications Industry in South Africa

It goes without saying that the communications industry is one of the fastest developing industries world wide. The same is true in South Africa. Over the last couple of years, cell phones have exploded onto the scene and have changed the way we look at communication as a whole.

Communication

This sector contributed almost 10% of the Gross Domestic Product (GDP) of South Africa and have been the fastest growing sector in the country. This is after the rapid expansion of communication networks across the entire country.

Mobile communications are far more popular than fixed line communications. Even the internet has become wireless. According to the Department of Trade and Industry, fixed line penetration is estimated at about 10%, where mobile penetration is estimated at about 93%. That is a difference of about 83%. This goes to show to where South Africa is headed in the long run.

For quite a long time, Telkom was the only licensed provider of fixed-line communications. Telkom is a listed company in which the government is the biggest shareholder. Telkom is also one of the companies that plays an important role in the optical fiber undersea cable project. The project is aimed at providing Africa with the telecommunication needs for about the next 25 years.

The cellular phone market has grown exponentially in the last couple of years. Almost each individual in South Africa has access to a cell phone. The country is also one of the fastest growing Groupe Speciale Mobile (GSM) markets in the world, currently ranking fourth.

Currently there are three major cellular service providers in South Africa. They are widely known to be in constant competition with each other. They are Vodacom, MTN and Cell C. For quite a few years, these were the only cellular service providers in South Africa. That is no longer the case. There are now other, but smaller, cellular service providers in South Africa. They are, amongst others 8ta, which was brought to life in partnership with Telkom.

The communications industry also ensures a large number of jobs. Service technicians are needed to ensure optimum functionality of the communications network in South Africa. There are also people needed to run the retail stores that were formed by these cellular service companies.

South Africa is also he largest internet market in the whole of Africa. It is estimated the there are about 9 million internet users in South Africa at the moment. With cellular devices also being able to connect to the internet, that figure will easily be multiplied.

According to research from the World Wide Worx, it is predicted that the demand for internet will continue to rise steadily in South Africa. They also estimated that the total amount of users will increase by about 500 000 users each year.

With more communication service providers that are being formed in South Africa, the prices for these services will also most probably become more competitive, which will be to the advantage of the user.

For an industry that have not been established for too long, South Africa is doing extremely well to deliver communication services to the people of South Africa. The proof is in the pudding, if you could read this, it is enough proof that South Africa has a well established communications industry.

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Put an End to Bad Marketing

One of the most important parts of your business is undoubtedly the marketing. Marketing is what connects your business with the public, informing them about your business and giving them an idea of what your business has to offer.

Bad marketing

Focus your marketing

There are some mistakes that you might be making in regards to your marketing strategy and you might not even realize it. Here you will find a few some pointers on how to ensure that your marketing strategy is on point and market relevant.

Keep is simple, yet effective

Too often business owners over complicate their approach to advertisements or use terms that are too complicated and hard to read. They make the mistake to think that it will impress the customers, but it actually does the opposite. An advertisement should be kept simple and clear. This will ensure that the customer understands what you are portraying. It will also ensure that the customer does not feel overwhelmed when they are reading the advertisement.

Have a plan in mind

Before you can start a marketing strategy, it is important to have a plan or strategy in mind. This will help you to know what you want to do, before you take the action to do so. The marketing plan should include key factor like the following:

  • By which means will you advertise? (internet, flyers, newspapers)
  • What element do you want to include in your marketing?
  • How often will you run a marketing campaign?
  • Who do you want to attract with the marketing?

Once you have identified the answers to these questions, you will find it a lot easier to draw up your marketing plan.

Thinking close to home

One thing is for certain. People like it when a business uses things from the community to market their products or services. You will need to think clever on this one, to ensure that you attract the right elements in the community and that it is relative to your marketing campaign, as well as to your product or service. When the people see something familiar, they will be more likely to be interested in your business.

Do not over sell or market your business

If there is one thing that have become evident over the last few years, it is that customers do not like it when a business oversells itself. They feel that the business is in their faces the whole time. It can also lead to some customers thinking that you are desperate and therefore making too many promises. The best thing to do is to simply state what you do and then do it well. The rest will sort itself.

These are just some of the few things that you can consider before you market your business again. It is a sure thing that it will direct you in the right way and a more effective marketing plan is guaranteed. You just need to be sure that you do your best to deliver on the promises that you have made.

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The Financial Sector In South Africa

Since South Africa’s integration into the world market in 1994, the financial sector of South Africa has really taken off. The country boasts with a sophisticated financial sector, with multiple governing rules and disclosure. Transparency and accountability has become an important part of doing business in South Africa.


Risk management is one of the key parts of the financial sector. It has enjoyed a lot of attention the last couple of years. The focus has been put on providing a financial sector where all the risks have been analyzed and restricted to the minimum. Universities have also started to offer courses in financial risk management. This goes to show that South Africa is focusing on providing an economy and financial sector with as little risk as possible. A survey that was done in 2006 showed that the financial sector, together with the real estate sector, has had the largest contribution to the economic growth in South Africa. After the financial crisis in 2008, it is already clear that these sectors are fuelling the economy once again.

 
South Africa also compares well to other developed countries. Foreign banks are well represented in South Africa and the electronic banking system in our country is extensive. A commonly known fact is that there are national networks of banking tellers, which makes access to money easier. This is a service that is not always available to people in the rest of Africa. Internet banking is also available to people in South Africa.

 
The banking system in South Africa is well developed and also compares well to other countries. The Financial Service Board, together with the South African Reserve bank, is responsible for overseeing the financial markets and banks of the country. The Bank Act of South Africa compares to the legislation in first world countries, like Canada and Australia. There are multiple regulating associations and acts in South Africa to ensure a balanced and growing financial sector. The National Payment System Act and the Payment Association of South Africa are examples of these acts and associations. The National Payment System Act of 1998 was developed to ensure that the financial settlement system in South Africa is up to standard with international practice.

 
The Payment Association of South Africa was established to reduce the risks involved in inter-bank settlements. This association is also responsible to ensure that South Africa is in line with international inter-bank settlement practices. The Financial Service Board is an institution that was established to oversee the non-banking financial service industry in South Africa. This is an independent institution to ensure that it is run without any infringements. The main purpose of this institution is to ensure that the financial services in South Africa are efficiently run and safe for investors. South Africa is still a developing country that has loads of potential. The financial sector of the country is built around acts and institutions that measures well with world standards. South Africa is headed in the right direction. With the right people at the steer of things, South Africa will be able to compete against first world countries.

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What You Need To Know About The Companies Act Of 2008

After six years of deliberation, discussion and consultation, the Companies Act of 2008 saw the light. This had to affect that multiple professions had to amend the way in which they normally do business. Companies were also obliged to file an amended Memorandum of Incorporation.

documents
The law was designed in such a way to accommodate the changing market. Giving more flexibility in a modern commercial world. The government thought it well to wait about three years before putting the act into force. The new Companies Act was signed into law on the 8th of April 2008. In the year following that, professionals like lawyers, accountants and auditors were given the opportunity learn and apply the new law. The next two years made provision for pre-existing companies to amend their Memorandum of Incorporation, free of charge, to bring their constitutional documents in harmony with the new act.

When comparing South Africa’s new act with the amended Companies Act of 2006 in the United Kingdom, it is easy to spot the difference. South Africa’s act consists of only 225 sections and five Schedules, whereas the UK’s Act consist of a whopping 1297 sections and over 16 Schedules. Luckily, this does not directly mean that the new Companies Act of South Africa is not up to standard.

The new Companies Law is considered as a to-the-point piece of legislation, which revamps and revises South Africa’s company law regime. This is all done while still preserving some parts of the previous company law policies and concepts. The new law is also more user-friendly. The Act is drafted in plain language, doing away with some of the technical legal jargon. It may help the uninformed to understand better, but unfortunately it also resulted in some areas being vague and sometimes misinterpreted.
The new Act simultaneously discards old-fashioned policies that have been replaced with new concepts. These concepts include words like, liquidity and directors, which is widely known and most often used in day to day communication.

The need for the altering of the Companies Act came along with the modern approach to doing business. A country’s Company Law has a significant impact on the economy of that country. The reason behind that is that a Companies Law can facilitate commercial enterprise and economic growth or it can restrict and decelerate economic growth.

The previous Companies Act of 1973 was amended 42 times in the 35 years that it was signed in as law. This led to the Act becoming complex and contradicting. For that reason the government thought is well to draw up a new Companies Law, ensuring that the law is clear and easy to understand.
Another reason why the law was changed, is because of the modernization of the business world. More and more people are visiting other countries to expand their business. With globalization on our doorstep, the new law will make South Africa more investor-friendly. The DTI (The Department of Trade and Industry) commented on the new Companies law and sees it as a law of the 21st Century.

The DTI has formed five pillars from their policy paper. These pillars outline the objectives of the new Companies Law:
 To simplify and reduce the cost of forming a company,
 To promote an effective regulatory environment,
 To improve the management and efficiency of companies
 To enforce high standards of corporate governance
 To give South African companies a fair chance against the international market
The Companies Act 2008 has introduced various changes in respect of the corporate governance structures of companies. Despite of all the formalities and changes, the new Act offers South African Companies so much more than the previous Companies Act of 1973. The government made the right choice when they decided to change the Companies act.

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Forming a Partnership Agreement

One of the common businesses in South Africa is a partnership. A partnership is a business entity where the partners share in the profit and liability of the business. A partnership agreement can be signed for this.

A partnership can be formed by two, or a combination of natural person and a legal entity (companies or closed corporations). To make the process easy, a partnership agreement can be signed.  Although it can be comprised of a legal entity, a partnership is never a separate legal entity. That means that the partners involved in the partnership will be held accountable for the doings of the partnership. A partnership must consist of at least two people and a maximum of twenty people.

A partnership is also not continuous. If one of the partners withdraw from the partnership or one of the partners pas away, the partnership will dissolve. When the partners sign a Partnership Agreement, nothing in the agreement can change. As soon as a new partner wants to join or terms of the agreement are to change, the partnership also dissolves. Then a new Partnership Agreement must be arranged.

There are two types of partnerships – ordinary and extraordinary. In an ordinary partnership, the partners are known to the public. They also contribute to the partnership by means of labour or other contributions. An extraordinary partnership is where the partners remain anonymous. The names of the partners are not disclosed to outside parties.

In some cases, partnerships are formed between two companies. This is done when a certain task must be completed by the two companies. This is also referred to as a joint venture

Things to be done to form a partnership
Just like a sole ownership, a partnership is quite easy to start. All that is needed is the drafting of a Partnership Agreement. This is where all the detail and the terms of the agreement among the partners are stipulated. Then, all that is left to be done is to register the partnership with the South African Revenue Services. To simplify the process even more, you can contact Pty Company Registration . They will be happy to assist you, should you feel unsure about any part of the process.

Requirements to start a partnership
There must be an agreement between the partners of the partnership. This is done by a Partnership Agreement. Here in all the partners will be mentioned and what they will contribute to the partnership. The division of the profit will also be stipulated in this agreement. There is no rule enforcing that the agreement must be in writing, so it can also be a verbal agreement.

The partners should also have the same goals for the business. This will ensure that the partnership moves in the right direction. Furthermore, the partners must contribute something of worth to the partnership. This can be capital, skills or expertise. This might have an influence on the division of profit.

The Partnership Agreement
Listed below is some of the things to consider to include when drawing up or discussing the Partnership Agreement.
– The name of the partnership
– The business that the partnership will be involved in
– Roles and responsibilities of each partner
– If they will be needed full-time
– How the profit and losses will be shared among partners
– Which of the partners will have cheque and purchasing rights
– Other specifications that might be unique to your startup

Partnerships are ideal when you have an ideaand people with different, compatable recourses. It is easy enough to start and offers a fair amount of freedom to the partners. With the right combination of partners, there is no reason why a partnership won’t take off.

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How to Pitch to an Investor

One of the most nerve wrecking parts of being in the business environment, is to pitch to an investor. You know, while you are standing in front of them, they are analyzing and judging every part of your presentation.

Pitch

You may be the most outgoing person around or the one with the best presenting skills, but when the stakes are this high, chances are that you will be on your nerves. Investors are looking for a business or business ideas with the most potential chance at success. So do not worry about your presenting skills, rather focus most of your time to ensure that you present your business or idea in the best light possible. There are certain methods to follow to better your chances of getting that much needed funding for your business. These methods will be mentioned below.

The big picture 
A successful pitch to investors does not always revolve just around a well-drawn up business plan. It is about how well you know your business and the products or services you are going to provide. The overall idea of your business should be well thought through. It is also important that the business you are seeking funding for, is relevant to the current market conditions.

Confidence is key 
Be sure that you are confident and well prepared when you step up to do the presentation to the potential investors. Before the pitch, you should think of possible questions that the investors may have. This will help you to answer the questions better when you are confronted with them. It is also important to remember not to rehearse everything you want to say. You can have a few key words to help you remember all the points you need to touch on. You want to come across as knowledgeable and well informed.

The business plan 
The business plan can play a vital role in the presentation to the investors. Be sure that it is skillfully drawn up, so that it is still business relevant, yet easy to read and understand. You will need to show the potential investors that you have analyzed the market and that your business will be addressing the gap in the market. You should really think this part through.

Do not drag on for too long
Your pitch should not carry on for ages. You should be careful not to have a presentation that is too long or even too shorter. You should stick to the most important points of your business idea and ensure that you give the investors enough reason to invest in your business. Be sure not to lose the interest of your potential investors. If you find that they are losing interest, get their attention back by mentioning all the reasons why your business is the right investment for them and draw your pitch to a close. This will keep them from totally losing interest in your pitch and eliminating you as a potential investment.

Get it in writing 
Finally, you need to have all the data and figures in writing to give to the potential investors. This will carry the message that you have done research and have put effort in planning the pitch. They will most likely conclude that you will have done the same with the entire business idea. Include data like the estimate in growth that you expect, financial projections and an estimate amount of profit you are looking to make.

A final word of advice is to present your entire pitch in such a way that they can experience your entrepreneurial drive and ambition. Let them know, without telling them, that you have what it takes and is willing to put in the work that it takes. It all lies within your attitude and the presentation of yourself.

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