Investing in knowledge pays the highest dividends.
A Franklin saying.
Business services we offer -
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- What business platform best suits you?
- Business Plans;
- Brand protection;
- Formation of a company;
- Assistance with establishment. SARS, CIPC, UIF
- Business agreements – Shareholders agreements for companies.
- Partnership and joint venture agreements.
The right business entity
Companies protect you from personal liability in most cases. Other business platforms do not. The main reason why you form a company is to keep you business affairs separate from your private affairs.
SARS beware. SARS is an exception. Tax liability often follows you wherever you go.
Comparison of Business Entities
|Sole Proprietor||No protection from creditors. You can be sued personally for the business debts. You are the business||Suitable for small business starting out. You need to work on a cash basis paying creditors and not allowing customers to run up accounts.||Suggested Turnover
|Partnerships||Each partner is equally liable for the full amount of all the debs in a partnership.||Business partnerships are the inevitable consequence of two or people starting a business. One should plan to form a company as soon as possible.||Suggested Turnover
|Close Corporation||All close corporations will eventually be converted to companies. No new close corporation can be formed.|
|Companies||All companies are governed by the same Companies Act 2008.||See our Companies Page for further details.||Suggested Turnover
|Business Trusts||This is not a popular business platform. It is a highly specialised option for business men with specific goals.|