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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

 

Choosing the right bank for your business

Choosing the right bank for your business involves more than just a random choice. It will take time and patience to browse through multiple banks’ pricing plans and services they offer. At the end of the day you will be happy in knowing that you chose the right bank for your business needs.

bank

When starting a business, it is necessary that you find a bank that is reliable and will give you the needed support. Even if the needs of your business are simple, you still need to search for the right bank. You should also consider the current and future needs of your business when searching for a bank. There are a few things to consider when choosing a bank:

Know your own needs

Before you can start your search for a bank, you need to know exactly what you need. This will largely depend on the type of business you are about to start. You can always consult an advisor to help you determine what you need in a bank. As soon as you have the answer to this question, you can begin with the process to find the ideal bank.

Size of the banks

The size of a bank will indicate to you how successful the bank is. It will also be an indication of how much money they will be able to lend to you if it is needed. For a business starting out, it will be of great importance to do business at a well established bank. This will minimize the risk of a bank declaring bankrupt.

Evaluating their rates and charges

This is a very important part when choosing a bank. You should know what each bank’s current rates are and how these rates are calculated and implemented. You should also be sure of how often these rates are likely to change and how that will have an effect on long term banking. It is not advised to choose a bank, primarily on what it can provide you in the short term. Rather opt for a bank which will give you long term satisfaction.

Capability with technology

When you are on the move, this will definitely have an impact on the way you do banking. Sometimes you might not be able to get to a bank to do your business. This is where technology comes in handy. You should choose a bank that will suit your needs, even if you cannot physically go to the bank. We can assist you with opening a bank account online at FNB. Please contact us for more information.

Comparing banks

When you know what you want, it is easier to search for your needs. You can do online searches of banks that you are considering. Their websites will give you enough information to form a basic overview of each bank. Once you have narrowed down the banks to choose from, you can go into each branch and discuss details with them. This is also a great way in which you can see how they treat potential clients. Equipped with this information, you will be able to easily decide on a bank. Here is a great website South Africans use to compare the major banks: www.wheretobank.co.za/ . We use Nedbank Business, which has been a great partner. They have agreed to also help our clients with a business bank account (and finance if required) at no cost. Click here if you wish to read more / apply. 

Always remember that not every bank is the same. They are also in competition with each other so be sure to double check every aspect. At the end of the day you can not run a business as effective without a bank account. Just be sure that you choose the right bank for you and your business’ needs.

FIND MORE ARTICLES ON OUR BLOG – click here