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Client Testimonial: How to get your Security Company 100% Compliant fast!

With the help of our Compliance Experts, this Security Company had new branding media, all the vital business documentation and 100% Tender Compliance in only 2 months!

Renier Uys, the Managing Director of Elisheba Security and Cleaning Services, signed up for more than 20 of our services and within 2 months Renier’s business was up and running with all the necessary elements:

Our interview with Security Company Owner, Renier Uys.

security-company

Tell about your Security Company?

Elsheba Security and Cleaning Solutions and is a private security company that provides services like guarding, electric fencing, cleaning, security, camera and guarding staff for the private sector, residential and industrial areas.

security-company

The company name derives from a Hebrew term that means “Pledge to God”.

Here’s a short clip of our chat with Renier!

How and when did you start your South African Security Company?

I worked for a larger corporate security company for 20 years and last year April I decided to leave my job to start my own company.

It wasn’t easy. I don’t think I would have been up and running by now if it wasn’t for Company Partners.

How did Company Partners assist you in starting your Security Company?

Obviously, in the security industry, it’s very hard to get up and running, because there’s a lot of paperwork involved to get yourself registered with South Africa’s security authorities. It’s very difficult to get your company 100% compliant.

I’ve talked to other entrepreneurs who have also started their own security companies and some of them still aren’t up and running, but Company Partners assisted me to get everything done.

PSIRA won’t even look at your papers if they’re not 100% right and it can take months to get it right. Company partners helped me register my company at the CIPC, with PSIRA, they helped me get my BEE certificates and all the other paperwork that’s required.  

PSIRA_registration

However, when I started with Company Partners everything they did for me, form the paperwork to the branding, took only 2 months.

I know other people who started when I did and they’re still waiting for their papers, but I’m 100% compliant.

What’s the best part of using Company Partners?

How fast they can do all the things you need. They also always keep you updated. They’ll let you know how long something will take, for e.g. a day or two to sort everything out form a legal side to make sure you’re 100% compliant. I’m very happy with the services they provided me.

I’m actually still doing business with them because of they’re also running payroll for my staff and doing my bookkeeping. 

Since I’ve been working with them their services were brilliant and they’re very helpful and the timeframe they took is fantastic.

Check out our Security Package here:

Company-Registration

New to company documentation? Avoid these 4 rookie mistakes.

company documentation

Company registration isn’t the only thing you need. Avoid these rookie company documentation mistakes.

So, you’ve taken the leap and formally registering your first company and you’re ready to take on the world of contracts, tenders and bigger opportunities?

According to Ilana Steyn, the MD of Company Partners (a business that assists entrepreneurs with fast-tracked compliance services), newly-registered companies often skip-over vital tick-boxes. The reason being: common misconception on company documentation.

Here are the 4 rookie company documentation mistakes you should avoid:

1. Don’t assume you can’t get a B-BBEE (BEE) Affidavit – just because your company does not have 100% black ownership

According to new legislation, you don’t need a formal B-BBEE (formerly known as BEE) Certificate if your turnover is less than R10mil a year. Your business is considered an Exempted Micro Enterprise (EME). You need a B-BBEE Affidavit.

This simply means you need a formal letter, called an affidavit, to formally state how your company’s ownership looks like. There are three options: 100% black ownership, more than 50% black ownership or less than 50% black ownership.

Once this affidavit is stamped by a Commissioner of Oath, it serves as your legal B-BBEE certificate.

You can request a free B-BBEE Affidavit template HERE; simply talk to one of Company Partners’s B-BBEE experts.

If you have 100% Black ownership your company will receive a B-BBEE status Level 1; more than 50% Black ownership earns you a Level 2 and less than 50% gives you a Level 4.

When your company hits the 10mil. mark the process becomes much more complex. Then you’ll need to apply for a formal B-BBEE certificate.

Click HERE if you’d like an expert to assist you with a formal B-BBEE certificate. 

2. Don’t ignore PAYE, UIF and COID

According to South African law, all registered companies should comply with annual, bi-annual and monthly PAYE (pay-as-you-earn tax), UIF (Unemployment Insurance Fund) and SDL (Skills Development Levy) requirements.

If you employ someone you should be registered as an employer at both SARS (for PAYE and SDL) and the Department of Labour (for UIF).

There are only a few exemptions; here they are:

  • If an employee works less than 24 hours a month, UIF is not required.
  • When your yearly expense on salaries is less than R500 000 (that’s about R42 000 a month), SDL is not required.

If you need assistance with your business’s PAYE, COID or UIF, simply click HERE.

3. Don’t assume CIPC registration protects your business name

Simply registering your company name at CIPC does do protect it.

The only way to protect your brand name efficiently and that’s doing a Trade Mark registration at the CIPC. This gives you the legal power to use South Africa’s Trade Marks Act – if anyone ever tries to steal or copy your trademark.

It’s possible to defend your brand name without the additional Trade Mark registration. However, that would leave you fending for your brand using common law – which is really challenging in a court of law.

Trade Mark registration also allows you to add that famous small ‘TM’ to the end of your brand name. This helps to ward off the wolves.

Click HERE if you’d like to talk to our experts about Trade Mark registration. 

4. Don’t assume Directors and Shareholders are the same

A director can be a shareholder, but it’s not an automatic association; it’s two separate titles.

Shareholders are the legal owners of company shares. Directors are simply those individuals appointed to head the company management.

The original signed shareholder certificate serves as the shareholder’s the proof of ownership.

Here it’s important not to skimp on the formalities. It’s your company’s responsibility to issue share certificates to every shareholder.

The CIPC does not issue the share certificates upon your company’s initial registration. You only stipulate how many shares will be available for distribution within your company during the registration process.

It’s also a good idea to create a shareholder’s agreement. You should rather have an agreement that’s specifically set up by a lawyer when there’s more than one shareholder.

Our experts can assist you with formal Shareholder agreements, just click HERE for a FREE business consultation. 

To learn more about the company documentation you need for your business, click HERE for a free business consultation.

Tax Deadlines 2018 – and everything you need to know about accounting

tax

SARS Tax submissions are around the corner. Here’s everything you need to know – plus the easiest way to do your tax.

No entrepreneur likes doing tax. It’s complicated and it steals valuable work-time you could’ve spent on growing or running your business.

Unfortunately, all registered companies, in South Africa, need to comply with SARS, or they could face late-submissions penalties.

We called in local tax expert and head of Company Partners’s SARS departments, Jack Liebenberg, to give us the low down on business tax and accounting 2018.

Jack has over 30 years experience with SARS. He also created a new Company Partners Tax and Accounting Service, after realising most local entrepreneurs don’t have the funds to hire a full-time accountant.

This new service, the Tax and Accounting service, allows all South African businesses to pay an affordable monthly fee and get professional Bookkeeping and Tax Returns all year round.

SPECIAL: Sign up for our Tax and Accounting Service now and only pay R990 p.m.!

Jack answers the most frequently asked questions South African entrepreneurs have on tax and accounting:

 

1. What are the most important Tax deadlines for small business owners for 2018? 

Jack: Provisional Tax must be submitted during August and February and IT14 returns should be submitted within 12 months from the date on which their financial year ends.

2. For accounting purposes, is it better to declare dividends for yourself or to pay yourself a salary? 

Jack: It’s better to draw a salary.  Additionally, when your business is profitable – and you’d like to draw some of it, – you can decide whether you want to take an annual bonus, in line with your salary, or declare dividends.

You need to keep in mind that you can only declare a dividend if the company makes a profit.

After the company tax is paid, the dividend can be declared, and the company must pay additional dividend tax of 20% on these dividends.

3. Is it good for entrepreneurs to do their own accounting?

Jack: Entrepreneurs are not accountants. They have a vision and they’re equipped to build and grow a business, but most entrepreneurs don’t have the knowledge or the time to do the accounting as well – and to ensure the legal compliance of the company.

There are professionals who can assist you at a fraction of the price that you would pay if they have to appoint a full time professional.

DON'T MISS OUR SPECIAL: Sign up for our Tax and Accounting Service this month and only pay R990 p.m.!

4. Is accounting really necessary for companies who are just starting out?

Jack: There are various legal requirements, in terms of accounting and tax, that need to be adhered to by companies.

One of the requirements is: there must be sound financial records, and there must be annual financial statements compiled at the end of the financial year.

It is, therefore, advisable to have financial records since the start of the business, to ensure that all income and expenses are recorded.

Additionally, good bookkeeping can also assist your business’s growth.

Accurate financial records ensure that directors can gauge how the company is performing.

The available information can empower you to make informed decisions regarding your business’s strategy and its foreseeable future.

So there you have it, according to our Tax and SARS Expert Jack Liebenberg, it’s best to leave your tax and accounting to a professional. That way you can get back to conquering the world with your entrepreneurial skills.

Click HERE to see the other services we offer.

GET A FREE BUSINESS CONSULTATION: Let our business experts empower you!

INFOGRAPHIC: 6 Reasons it’s better to have an older company registration number

Did you know it’s better for your business to have an older company registration number?

You should register your business before 2018 arrives! You can also buy a shelf company with an even older company registration number. 

Pay ONLY R490 for a 2017 Company Registration Number today (and R99 p.m. for amendments)! This offer is only valid from 5 to 21 December 2017. T’s and C’s apply.

Here’s a simple infographic explaining why it’s better to have an older company registration number…

company registration number

Why it’s so important to register your business in 2017, rather than 2018 to get an older company registration number:

An older company registration number impress clients: 

You might have years of experience in what you do, but your clients, investors and companies you’d like to do business with don’t know that.

You should certainly make your years of experience clear in your marketing material, but having an older company registration number a great way of ensuring your brand comes across as an established company that stands the test of time.

Some Tenders require an older company registration number

Some Tenders prefer service providers that have been in trade, on paper, for a certain amount years. The older your company registration number is, the sooner you might qualify for more Tenders and RFQ.

Value increases as your company ages

Besides making your business a more established entity, the value of your company increases as your company registration number ages.

Other entrepreneurs, in an attempt to gain the advantages of an older company registration number, are willing to buy older registered companies.

It’s estimated that a company that’s three years old (with the proof of an older company registration number), could sell for about R3000.

Why choose Company Partners to register your new company?

Our team of experts have assisted thousands of South African entrepreneurs like you with the company documentation in record-break turnaround times. Check out our testimonials HERE.

8 Things you should know about Payroll in South Africa to avoid penalties

Here’s how to avoid penalties at SARS and the Department of Labour – by not making these 8 common mistakes most entrepreneurs make when it comes to payroll in South Africa…

payroll in south africa

Payroll in South Africa is not as simple as it seems.

There’s a long list of requirements and submissions that your company needs to comply with to avoid penalties from both SARS and the Department of Labour.

Most South African entrepreneurs think having a rock-solid Payroll process is only necessary when you have multiple employees. That’s not true.

According to South African law, all registered companies should comply with annual, bi-annual and monthly PAYE (pay-as-you-earn tax), UIF (Unemployment Insurance Fund) and SDL (Skills Development Levy) requirements.

payroll in south africa

Even if you’re the only person drawing a salary from your company, the legislation in terms of payroll in South Africa applies to you.

Our team of experts created a list of the 8 crucial things every entrepreneur should know about Payroll in South Africa to avoid penalties:

  1. Employers should be registered at SARS – AND the Department Labour

SARS is not the only place you should be registered as an employer.

Every South African employer should be registered as an employer at both SARS (for PAYE, UIF, and SDL) and the Department of Labour (for UIF).

  1. You have to submit your monthly returns at both SARS – AND the Department Labour

Just as people often neglect their employer registration at the Department of Labour, they also neglect their paperwork submissions to the Department of Labour.

Your monthly returns must be submitted to both SARS and the Department of Labour.

  1. There’s a cap on how much UIF you must pay

As per South African law, you contribute 1% of your employees’ salary as a UIF contribution. You also deduct 1% your employee’s salary as his or her contribution to UIF.

That amounts to a 2% contribution in total.

However, what employers often don’t know there’s a cap of R148.72.

No matter how much your employee earns, the maximum contribution will not exceed R148.72 for your UIF contribution. Your employee’s contribution also has a cap of R148.72.

  1. Monthly PAYE payments are due before the 7th of every month – even if it’s a weekend

There are two monthly deadlines in terms of PAYE.

First, you need to submit your Monthly Employer Declaration (the EMP201 form).

Then you need to pay your PAYE before the 7th of the following month. If the 7th falls on a weekend, you should make the payment before the weekend.

  1. You need to submit your Employer Bi-Annual Reconciliation Declaration twice a year

The Employer Bi-Annual Reconciliation Declaration (the EMP501) is due two times a year (due by 31 May and 31 October). You can submit it through SARS’s Easyfile system.

  1. Employees’ tax certificates’ are due once a year

You have to prepare your employees’ tax certificates (the IRP5 forms) once every year. This is due by 31 May.

  1. If you don’t calculate your tax correctly your employees might be paying too much

Nothing is as damaging to office morale than slicing down your employees’ salaries unnecessarily.

If your tax calculations (on the IT12 returns) aren’t 100% accurate, your employees will pay too much tax, or too little. This will result in employees, either getting a refund or they must pay in when submitting their annual tax return to SARS.

  1. You don’t have to do everything yourself

Keeping track of all your Payroll requirements can be complicated.

Simply sign up for Company Partners’s Payroll services. Their team of Payroll experts will handle everything for you starting from only R99.00 per month.

Company Partners will keep track of all your required annual, bi-annual and monthly submissions to both SARS and the Department of Labour.

payroll in south africa

Besides handling your payroll process and your payroll administration – ensuring that you comply with all the numerous requirements throughout the year – Company Partners will also do the following:

  • Keep track of annual leave, sick leave, and Family Responsibility leave.
  • Provide back-ups of payrolls when needed.
  • Provide records regarding remuneration in the event of CCMA cases.
  • Incorporate all legal changes automatically in the payroll software that we use.
  • Provide assistance with any BCEA issues regarding BCEA (Basic Conditions of Employment) requirements.

A training platform for entrepreneurs

The one thing that nobody can take away from you is knowledge and as we all know, knowledge is power. In South Africa, not everybody has access to the funds needed to pay for further education and training. In the past, this had to effect that a lot of great ideas and potential entrepreneurs did not see the light.

Training

 

Luckily, there are a few organizations in South Arica that provides free training to entrepreneurs. This is done to ensure that these entrepreneurs are equipped with the essential skills to successfully start and run their own businesses.

One of these organizations is The Seed Academy. The Seed Academy provides practical training for entrepreneurs. The best thing about this Academy, is that the training is provided by real entrepreneurs. This enables the Academy to provide the best possible training by having real life experience in entrepreneurship.

They are aimed at providing assistance and training to entrepreneurs from the very start. They take the trainee entrepreneurs through all the steps, from finding the idea right through to the realization of the idea. Everything that needs to happen in between these two milestones is covered.

The Academy has recently announced that they are in possession of R2,4 million of sponsored training that they will be making available to entrepreneurs. This will mean that a number of potential entrepreneurs will have the chance to better their skills and that they will be able to open and run a business successfully.

At the moment, the Seed Academy offers four courses for entrepreneurs. These courses include basic training, marketing and financial training, as well as a course that is aimed at educating the trainees on the key aspects of building a successful business. The only downfall to this training is that it is only presented in Johannesburg and in Cape Town.

These courses are all structured in such a way that it incorporates personal and leadership development. Developing these elements into the courses will give the entrepreneurs a solid foundation to build their new business on.

The course also includes practical sessions where the entrepreneurs will be actively involved. The Academy determined that when they make use of practical lessons, what the entrepreneurs learn more from the experience in relation to only reading all the information. These practical sessions are presented once a week over the span of 10 weeks from 18:00 till 21:00.

The Seed Academy has also made it easy to apply for admission. You can log onto their website and go to the ‘Apply Now’ link, where you will be asked to complete a short form with your details. All you then need to do is to submit your application.

The best thing about these courses is that you do not need a certain qualification or achievement behind your name in order to enroll for these courses. All that you need is a brilliant idea and an entrepreneurial spirit. When you have these two, and completed the training, nothing will be able to stop you.

If you would like to get into contact with the Seed Academy, you can do so by logging onto their website at www.seedacademy.co.za, you can drop them an email at info@seedacademy.co.za or you can give them a call at 011 262 6858.

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Why register a 2015 Pty?

CIPC is allowing the Last 2015 Pty Registrations

In South Africa’s economy the registration number of your Company is a massive factor of TRUST. When applying for contracts and Tenders, the number with which your Company’s Registration Number starts indicates how long your Company has been active.  For example, Company Partners was registered in 2006 (Reg Nr 2006/087669/23), but only started trading in 2007. As we had a 2006 Registration Number our clients could see that we’ve been active for more than a year – which won over their TRUST.

What does this mean for me?

IF you want to start a Company next year (2016) it would be in your favor to register a Pty Company at CIPC in the next two WEEKS – as CIPC will give your Company a 2015 Registration Number. Apply now for a FULL Pty with a new name; or start at only R250 through our Payment Plan option.

As a Christmas Gift, we are giving ALL clients who register a new Pty Company during the holiday season a FREE Database Listing valued @ R299 where you can reach 100’s of clients (the order needs to be placed and paid for before 11 December 2015. Read more about the database listing. 

Click the button below to Apply for your own 2015 Pty Company with a new name @ only R895:

Register a Company