Going Back to Business Basics

February 07, 2023 • Estimated Reading Time: 6 minutes

We thought that this week let's get back to the basics. Let's start with the building blocks of starting a business. Let us start with The Basics of Registering a Small Business. All companies fall under specific categories, each with specific requirements in terms of the documentation that is required.

The Companies Act provides for two main categories of companies – non-profit and profit companies, with other types falling under these categories. You can choose to register your business as a Non-profit, Profit, Personal Liabilities, Public or Private company. There are advantages to registering your business in South Africa. These include business name protection, tax incentives, financial assistance and business compliance. To find more information about where to register a business, who qualifies and more, read our article below 👇

New This Week (06 February 2023)  

First Step: Secure Funding  

If you are looking for money to start a business or money to grow your existing business, several different types of lenders provide finance to entrepreneurs, these include angel investors, banks, debt financiers, niche lenders, personal lenders and venture capital (VC) funding. Here are some funding options:

  • Bootstrapping: Bootstrapping, is the term used to describe self-funding a startup with little or no resources. 

  • Business loans and financing: Short-term loans can be used to finance a business’s everyday operations. 

  • Enterprise Supplier Development (ESD): These types of programmes offer small business owners both financial and non-financial support.

  • Government funding: The different types of government funding include cost-sharing grants, incentives, tax incentives and equity funding.

For more funding options including grants, angel investors, competitions, crowdfunding and more, read our article below 👇

Are you looking for Working Capital Funding? 

Complete a simple form to compare multiple small business loan options.

Step 3: Market, Market, Market!   

Now that you have registered your business and have acquired the necessary funding, the next step is to market your services or products to your customers and we know just how. Digital marketing has changed the game – for the first time, every business can afford marketing tactics to build trust in their brand and open wallets.

Here are some marketing tips that can help you nail your first customer:

  • Identify your brand story - If you want to build a successful business, having a strong brand story should be a key priority as it helps people connect to your brand and creates customer loyalty. Read more...

  • Use customer testimonials to promote your business - Customer testimonials are great for business. Not only do they give credibility to your brand, but they also show potential customers that you offer something that people enjoy, value and will happily invest in. Read more.. 

  • Explore digital marketing - Digital marketing is a free strategy that builds more trust in your brand and opens up wallets. Read more..

The eBook covers everything from what social media platforms you should be using for your business to the ins and outs of lead generation and nurturing.

The Small Business Bounce Back Guide   

Get the Tools & Resources you need to plan your next Bigger, Better, Smarter move. Learn how to build a ‘crisis-proof’ business PLUS actionable advice to help you thrive beyond COVID-19. The Small Business Guide is packed with practical, expert business advice, tips and resources and is ideal for both the experienced business owner looking to rebuild AND new entrepreneurs looking for advice to launch a business without having to pay the COVID-19 ‘school fees’.

What’s Inside:

  1.  THE BUSINESS COMPLIANCE CHECKLIST

  2.  FUNDING: GET STARTED

  3. FUNDING A BUSINESS: HOW TO GET STARTED

  4.  MAXIMISE YOUR MARKETING EFFORTS

  5.  THE MONEY MANAGEMENT GUIDE

  6.  CASH MANAGEMENT TOOLS