The most exciting part of starting a business is also the most tedious: getting the paperwork right. Skipping steps here can cost you thousands in penalties later.
1. Register your company with CIPC
The Companies and Intellectual Property Commission (CIPC) is where you formally register your business as a legal entity.
2. Register for tax with SARS
Once your company is registered with CIPC, you have 21 business days to register with SARS for income tax.
3. Open a business bank account
Never mix personal and business finances.
4. Get a BEE affidavit
Even if you don't need a full BEE certificate, most B2B clients require an EME affidavit.
5. Set up bookkeeping from day one
Even if you only have five transactions a month, start tracking them properly.
Compliance isn't glamorous, but it's the foundation of a business that can scale.
At Elevate, we've helped multiple clients navigate the compliance maze so they can focus on the actual work of growing their business.