Starting Your Own Business Made Easy As 1, 2, 3...........

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3.06 Classify the Forms of Business Ownership

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Presentation transcript:

Starting Your Own Business Made Easy As 1, 2,

What are my options? Sole Proprietor Private Company Co-Operative

Sole Proprietor (What is this?)  The Owner of the company is the business  No registration required  Owner is liable for business debts.

Private Company (What is this?)  The Company and the Owners are two separate legal entities  The Company is owned by the Shareholders and managed by the Directors  The Company is liable for it's own debts.

Co-Operative (usually called "Co- Ops") Similar to a company as far as the legal status is concerned Owned by Members and managed by Directors Profits are shared equally or on a pro-rata basis amongst members

So what does The PTY Guy recommend? The PTY Guy recommends that most start-ups register as Private Companies. These are the most common entities when starting a business. It's easy and there's minimal RED-TAPE requirements

So How Do I Register a Private Company? Simply dial *120*368# from your cellphone (it takes less than 5 minutes) OR Visit OR Come into our offices at Laager Centre (above the SPAR)

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