Get advice on how to draft a business plan, how to register a new business and what you would need to open a franchise business. Plus, apply for a business account online and insure your new company.
Start small. Think big.
We have put together some useful information to make starting a business easy – from tips on how to draft a simple business plan to banking services you can use to run your new business effectively.
A business plan is essential for every entrepreneur and is the mainstay to the success of a business. It's a roadmap of how a particular business wants to achieve its goals and should include its operational, financial and marketing strategies.
You’ve drafted a killer business plan and you are ready to venture into the world of business. Your next step is to register your business in accordance with South African legal and statutory requirements.
Explore business insurance options we offer
We offer a range of business insurance products. Speak to our specialists today about the insurance that your business needs.
- Directors and officers liability insurance provides protection for directors and officers of a company for claims arising from allegations of wrong-doing committed while performing their roles
- Since directors and officers can be held personally liable for any acts of the business, it is advisable that they will request to be protected rather than put their personal assets at risk
- Section 78 (3) of the South African Companies Act makes provision for directors and officers of a company to be protected against such claims through directors and officers liability insurance
Public liability insurance covers you and your business against claims of personal injury or damage to property that a third party suffers as a result of your business activities.
If you are in a partnership it’s advisable you sign a buy-and-sell agreement with your business co-owners. A buy-and-sell agreement has the following benefits:
- Gives you, in the event of your death or disability, leeway to sell your shares in the business to your partners
- Allows each partner to take out life or disability cover on the other partners’ lives which pays out on their death or when they become disabled
- Protects your investment in the business
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