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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.

3d human characters making graph of growth, isolated on white

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.

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:

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