How to Start a Small to Medium Business in South Africa Workshop
Starting a new business can be scary and exciting at the same time, and unless you have another source of income coming in, the income produced by your business will be it.
There is no security of knowing that you will have a salary, or how much you will earn. With having your own business, job security simply does not exist anymore, and in taking this vital step it is imperitive that you have a full understanding of what is involved.
Once you have made up your mind to start a new business, you can decide on what type of business it is that you want to start.
To be successful in starting a new business, it is advisable that you have a foundation to build the business from. Starting a new business is like a relationship, there must be a strong foundation to build upon, otherwise, it is most likely that the business will fail.
It is also wise to have a plan in place before starting the business. Know that failing to plan, is almost certainly going to be a blueprint for your plan to fail. Many new businesses tend to fail due to a lack of planning.
Further procedures involved in starting a business consists of, registering a business name, applying for a business tax number, VAT number, opening a business bank account, knowing what type of business entity you want to be classified as, such as being a sole proprietor, a partnership, company, etc.
Starting your own business can be rewarding, financially and otherwise, and to plan well with as much guidance, information and assistance will smooth out the path to success of your business.
Biz Facility now introduces the NEW below practical workshop to assist and prepare you with starting your own business, that will cover aspects that are practical and realistic.
The workshop is practical within a South African context , and is recommended for all individuals
Startups, Entrepreneurs and Managers who would like to start a business or who are currently running a small to medium business
Topics to be covered:
- Wealth Creation
- Business Failures
- Business Ideas
- Risk Appetite
- Vision and Strategy
- Business Plans
- Scenario Planning
- Raising Finance
- Choice of Legal Entities and Registrations
- Taxation and Tax Planning
- Accounting Standards
- Compliance issues
- Franchising or not
- Budgeting, Cash Flow & Financial Planning