What business types suits me?

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Presentation transcript:

What business types suits me? Tyronne Nel- PheZulu Business Management & Catherine Young – Thinkroom Consulting

Meet Tyronne Nel | tyronne@phezulu.net Founder of PheZulu Business Management 20 years experience in SME development Created first SME business management franchise in RSA Passion for helping entrepreneurs take their ideas from conception to success Successfully franchised to assist SME’s on a national level Performs all back office functions so you can do what you do best - run your own business

Meet Catherine Young | ‏@CatherineHYoung Owner – Thinkroom Consulting SME development across all industries and sectors SME development strategies for corporate organisations Background Corporate companies: Shoprite, Chevron, Deloitte, Ariba Twenty years experience in various positions held relating to supplier and small business development

How can I improve my business’ chance of success? Uniqueness Competitors Need Target market Market Research Start-up costs Cost of sales Operating costs Turnover / Sales Business Costs

Personal Liability Company My business, my choice This is the simplest form of entity as you require no forms to set it up and you can begin any time you choose. While it is no longer possible to register new corporations, any existing corporations are still legal and will operate as normal. Under the new Companies Act, private companies have become the new standard for business. Changes to the law have made their operation easier and cheaper. This is mostly used for professional partnerships, e.g. Lawyers & Accountants Sole Proprietor Closed Corporation Private Company Personal Liability Company

Further thoughts on Business Entities Should your business have more than one shareholder, talk to a professional to assist you with technical issues like: Shareholder’s agreement Memorandum of incorporation Secretarial duties The different entities each have their own peculiarities and risk profiles

CIPC website: www.cipc.co.za

PheZulu website: www.phezulu.net