Starting a part-time small business

[ABrooks]

I am currently doing some research to possibly start a small business that I can do after hours and on weekends. How would one typically go about this. 

 

I think a starting point would be to register a company, where do I do this and what is required of me? The idea is that a registered company is more easily trusted by prospective clients. It will never become a full-time job, just something I will do after hours. 

 

I currently have no idea on what to expect or what is expected of me so any input will be appreciated. 

[Shebeen]

I am currently doing some research to possibly start a small business that I can do after hours and on weekends. How would one typically go about this. 

 

I think a starting point would be to register a company, where do I do this and what is required of me? The idea is that a registered company is more easily trusted by prospective clients. It will never become a full-time job, just something I will do after hours. 

 

I currently have no idea on what to expect or what is expected of me so any input will be appreciated. 

 

 

side hustle is going to be an avenue for many people.

 

get your docs in order and do it the easy way

shelf companie's can be bought, "off the shelf"

https://ptyonline.co.za/

[DR ◣◢]

Chat to Theo at http://www.instantcompanyregistration.co.za/

 

Super easy and inexpensive way to get the PTY of your choice instead of just a shelf company t/a your business. 

[the nerd]

If you bank with FNB, you can do it all through their portal.

 

Its super simple: 

 

They register with CIPC for you

Open you business account etc! 

 

Really seamless! 

 

Onto the business, let it grow, if it is something scaleable run with it! 

[ABrooks]

If you bank with FNB, you can do it all through their portal.

 

Its super simple: 

 

They register with CIPC for you

Open you business account etc! 

 

Really seamless! 

 

Onto the business, let it grow, if it is something scaleable run with it! 

 

Thanks for the heads-up will definitely look at that as an option. 

[popcorn_skollie]

I'm not sure how to say this without being misinterpreted. But I personally believe that anyone who works for someone else should have a side hustle. Or at the very least try and equip yourself in how to achieve something that will generate an income. No matter how small. Even if you're just selling boerewors on a weekends and fail miserably. The experience is invaluable. Too many people get too comfortable earning a salary. And there really is no such thing as job security. 

 

Anyhoo registering a pty is pretty easy and there are many, many ways to do it easily online. After that its just a small annual fee to the CIPC. There's also lots of 3rd party secretarial companies that can do this for you pretty quickly at a small cost. I find using these secretarial companies personally useful moving forward. Especially if your business takes off. But this is a bridge you can cross when the time comes. I'd just register for now. You could probably get your BEE compliance affidavit in the same breath too. Good luck!

[the nerd]

I'm not sure how to say this without being misinterpreted. But I personally believe that anyone who works for someone else should have a side hustle. Or at the very least try and equip yourself in how to achieve something that will generate an income. No matter how small. Even if you're just selling boerewors on a weekends and fail miserably. The experience is invaluable. Too many people get too comfortable earning a salary. And there really is no such thing as job security.

 

Anyhoo registering a pty is pretty easy and there are many, many ways to do it easily online. After that its just a small annual fee to the CIPC. There's also lots of 3rd party secretarial companies that can do this for you pretty quickly at a small cost. I find using these secretarial companies personally useful moving forward. Especially if your business takes off. But this is a bridge you can cross when the time comes. I'd just register for now. You could probably get your BEE compliance affidavit in the same breath too. Good luck!

100% agree. I got retrenched beginning of lockdown. The package I got and my side hustle income kept me afloat!

[ABrooks]

100% agree. I got retrenched beginning of lockdown. The package I got and my side hustle income kept me afloat!

Sorry to hear man. Best of luck with your side hustle and going forward. What are you doing if you don't mind me asking?

[BaGearA]

Sorry to hear man. Best of luck with your side hustle and going forward. What are you doing if you don't mind me asking?

He has A coffe co 

[the nerd]

Sorry to hear man. Best of luck with your side hustle and going forward. What are you doing if you don't mind me asking?

 

We started by having coffee roasted for us and selling to corps etc, then started doing markets selling coffee, now we roast all our own, supply a bunch of corps and private persons and cafes etc... 

 

Now we opening a coffee shop! 

[Wayne Potgieter]

Many years ago I started a side hustle and it grew to the point that I had to make a choice between full time employment and taking the side hustle to another level.

 

I chose to back myself and turned it into a good little business that ran for ten years right up until we immigrated.

 

Was fortunate enough to employ quite a few people and create jobs and live a really good life for a while.

 

It was super stressful but ina  good "challenge yourself" kind of way.

 

Good Luck ABrooks...keep us posted on your journey.

[porqui]

What would be the other benefits of registering. Doubt that trust would be one.

 

Just make sure you do not create a lot of admin for yourself by doing so.

[Wayne Potgieter]

What would be the other benefits of registering. Doubt that trust would be one.

 

Just make sure you do not create a lot of admin for yourself by doing so.

It depends on what the business does.

 

This is quite a subjective opinion, but if I am paying for a service or goods from a company and they are not a registered entity with a proper website and email address (no gmail) I get quite nervous.

 

If the owner is not prepared to invest in his/her business, how can I be sure that they are taking things seriously?

 

These things are not expensive to do and they take a few hours a month to manage so the investment is not that onerous.

 

But like I said in the beginning - its my opinion and based on my risk tolerance.

[mazambaan]

Good to hear it can all be done quickly. We are in the process of opening a business account with Std for a new venture and it is taking forever - at least 2 months and three or four sets of forms.  Watch those bank charges as well.

 

After that comes VAT registration which looks like another lengthy process.

 

Maybe we just have incompetent accountants.

[ABrooks]

We started by having coffee roasted for us and selling to corps etc, then started doing markets selling coffee, now we roast all our own, supply a bunch of corps and private persons and cafes etc... 

 

Now we opening a coffee shop! 

 

I always assumed that the coffee business was your full-time job. All the best with your new coffee shop!

[ABrooks]

It depends on what the business does.

 

This is quite a subjective opinion, but if I am paying for a service or goods from a company and they are not a registered entity with a proper website and email address (no gmail) I get quite nervous.

 

If the owner is not prepared to invest in his/her business, how can I be sure that they are taking things seriously?

 

These things are not expensive to do and they take a few hours a month to manage so the investment is not that onerous.

 

But like I said in the beginning - its my opinion and based on my risk tolerance.

 

That is one of the main reasons I want to do it the right way and get registered. 

 

If I understand correctly I only need to get the business registered, what should I be doing in terms of SARS and taxes?