If you are considering "going it alone", there are many important aspects that you should consider. We deal here with some of the more important ones.
Are you going to run the business as a sole proprietorship, in partnership, in a close corporation or in a company? The implications in each choice are somewhat different. You should discuss these with both your attorney and your accountant. As we expand our site, we shall provide you with more information on each option.
You will in all likelihood need to hire premises. This will entail entering into a lease agreement. Take a look at our "Lease" page.
Should you intend employing people, be sure to familiarise yourself with the current labour laws and draw up formal letters of appointment.
Depending upon the nature of the business, you might consider entering into a restraint of trade agreement with one or more of your key employees. This will protect you from unfair competition, in the event of their leaving your employ. You could incorporate confidentiality clauses in this agreement.
If you are entering into, for example, the service, building, or manufacturing industry, you are strongly advise to have an agreement drawn, containing your standard terms and conditions. This should include clauses relating to, job specification, costs, deposits, payment schedules, disputes, cancellation, and many more. Such a document could very well ensure the success of your business. Read our "agreements" page.
Some businesses together with the owners have to be registered with the appropriate statutory authority. All have to be registered with the South African Revenue Service's. Employees may have to be registered with the appropriate Industrial Council. This is the employer's responsibility.
We wish you every success in your new venture. Be careful and good luck.