No lengthy queues or extensive forms – just a few clicks to register your company.
It started with something small that grew momentum because of untold hours of hard work and a few sleepless nights, but that great idea is what got you here. As a budding entrepreneur, scaling your brand upward in the hopes of growth and expansion treads closely on the heels of every customer transaction you conclude. So if you’re finally ready to take your enterprising start-up to the next level, you’ll need to tick a few obligatory boxes. The subsequent move is all about following procedure to get your business name emboldened in big, legally binding, and compliant writing.
Like many unavoidable formalities, there is method to the monotony of dotting your i’s and crossing your t’s. You need the legal and administrative stuff sorted to enjoy the perks of having your business name set in ink. Benefits such as tax incentives, financial assistance, and business compliance. The road to steadfast entrepreneurial liberty begins with an important first step – Company Registration.
The Benefits of Registering Your Company
Gaining complete access to the world of business and carving out your own real estate in South Africa’s ever-growing commerce landscape often requires planned growth and acquired funding. Your small business could be thriving at the moment, but a sensible long-term strategy might include establishing your business as a legal entity to trade on a larger platform and reap certain benefits afforded to registered companies.
Operating a business in a personal capacity means you’re assuming all the risk while using your own resources and running operations with a personal banking account. This means that your business is enmeshed with your personal affairs and that you are held liable in all matters where your business is concerned and vice versa.
When you register your company, your business is deemed a separate legal entity, which has certain financial, risk, and tax and branding implications.
Reasons To Get Your Company Registered:
- Asset Protection
When registering your company, you’re secured from personal liability through the separation of business and personal finances. This ensures the protection of your finances if any legal matters were to arise regarding either your business or a personal matter.
- Business Banking
It makes good bookkeeping sense to keep your business and personal transactions separate. A registered business allows you to create a separate business banking account. You will receive a separate income TAX number too. This is another great way to keep your personal matters detached from your business. It’s worth noting that having a bank account for your business is a SARS requirement.
- Building a Reputation
A registered company is an instant credibility boost for your brand. This step signals that you’re committed to your business and increases legitimacy in the eyes of your audience. It goes a long way in ensuring that existing and potential customers put their trust in what you’re offering.
- Investor Interest
Getting your company registered will count in your favour as far as banks and private funding are concerned. Funding is easily acquired by registered businesses because banks do not give business loans to unregistered companies, the risks are simply too high for them. Similarly, investors will only put money into a business which they feel has great potential.
The Importance Of Reserving Your Unique Business Name
Ask any entrepreneur about the origin of their company name and you’re likely to learn a great deal about the business. It’s not an overstatement to suggest that your business name encompasses everything that is unique about your business. After all, it’s the first impression you make on your customers and its significance is tied to your overall brand perception.
In a sea of competitors, a name is what imprints a lasting effect on your target market leading to one of the more powerful forces in the marketing sphere, recognition. This name will be on everything–from your advertising material and business cards, to all formation documentation–and as we’ve mentioned above, banks and investors will use this name in loan documentation.
The golden rule when deciding on a business name is to select one that is catchy, memorable, and succinct. It’s also important that your website name is on par with your company name. Uniformity matters, especially when customers spend a great deal of their time on the internet searching for goods and services that you have to offer. This leads us to the importance of acquiring a domain name for your website that will sync up with your business name, but we’ll focus on that in a moment.
The Claim To Your Company Name
Imagine for a second you’re running a side-hustle on Instagram and Facebook– both great tools for visual branding and social engagement. Your business name is unique, it expresses the identity of your products and services. By now, your business has a thriving customer base on and offline and based on this, you find yourself in a great position to expand. The first thing you want to do is get your business name formalised by registering your company with the Companies and Intellectual Property Commission (CPIC).
To your disappointment, your chosen company name isn’t available. While this isn’t a total train smash, it means that your existing branding will need re-evaluation. It’s a particularly bitter pill to swallow when you’re fairly established and risk confusing your existing customer base. When a company is legally registered, others can’t claim the name–this is unfortunately not the case with an unregistered company. It’s worth a note that to completely engage with brand name protection you need to explore trademarks and copyright protection.
The Benefits Of Registering Your Company Online
In the past, company registration may have meant standing in queues and reluctantly completing a pile of paperwork, but the exercise has evolved into a streamlined and simple task that can be done online. There are various services dedicated to helping with the process of online business registration in the name of minimum effort from the business owner.
Register Your Company With 1-grid In A Few Quick Steps
Alongside our inclusive business-centred product suite, 1-grid now provides customers with a seamless company registration service. Our team offers to do all the legwork in half the time, ensuring that your business is automatically registered and filed with the Companies and Intellectual Property Commission (CPIC). When you register your company with us, you won’t have to wait months for your business to be registered. We’ll get it done in a just few days.
Customers will also get a free domain name with every Business Registration product, so you can be sure to secure your business name as a website address.
The Value Of Having A Domain Name That Matches Your Business Name
Online consumer behaviour in South Africa has made a momentous leap over the last few years and businesses have been adapting their marketing strategies in response. Searching for a product or service online before buying is certainly the new normal.
A staggering 47% of South African internet users searched online for a product or service to buy and 29% bought something online via any device in the past month (We Are Social, 2018). This means that for many businesses, often the first engagement a potential customer has with their brand happens in the digital realm.
It’s therefore good business practice to align all brand messaging for the purpose of consistency that creates brand awareness, impacts recognition, and influences perception. Which is why you need to ensure that your online presence complements your brick-and-mortar business. There’s no better place to start than with a simple and memorable domain name leading customers to a professional website. This will provide your online audience with all they need to know about what you have to offer while adding an extra layer of legitimacy and trust to your name.
So, what is included in my company registration?
- Company Name Reservation Confirmation
- Company Registration Certificate
- Notice of Incorporation
- CIPC Processing
- CIPC Filing Administration Fees
- Domain Name Registration
- Income Tax Number
Ready to register your company online? It’s faster and easier than ever before. Visit our Company Registration product page to get started!