info on small business

[kahoel117]

It is an extra income. to be honest, all the hoops that i would have to go through makes it a bit difficult. what i was planning was buying goods and selling it again at a profit. but would be starting small. so my projected profits would'nt be big. BUT ... info is very helpful. maybe i'm just taking the wrong approach to this.
how much does it cost to register as a sole proprietor ?

[geraldenek]

how much does it cost to register as a sole proprietor ?

you are already registered for income tax so you will only have to go and register for provisional tax with SARS which is paid twice a year in advance for the next tax year (August and Feb)

there is no other place which you will have to register your business for a sole proprietor.

[DeanF]

Hi Geraldene,

This is one of the many reasons why I love this site. You have also helped me understanding this.

Thanks.

[mother]

Kahoel, if I were in your shoes, I would just ignore the whole tax-thing, registration-thing, paperwork-thing, etc, and JUST DO IT! Personally, I believe in just starting it, going with your gut, reacting to what happens, and shaping the business according to the market's response (without any of the red tape), and to see where it leads you. You'll soon see whether or not this is going to become "a business". And so what if you make a R100 profit now without declaring it. Rather just get it going first. I think a lot of great ideas never get past conception, because people are overwhelmed by the legislative and regulatory requirements, so they just let go of their idea.

If it works, and you see it growing, and it proves that it can become a business, then go see an accountant, and let them handle all the paperwork for you.

[kahoel117]

i think i'll give it a try then like you said...i can always iron out the rinkles later !
currently waiting for my 1st shipment , and will see where that goes ...

[Blurock]

Well said Mother. Just do it!

Good advice Geraldine.

[nikol]

Well....
These kind of post are always inspiring and I prefer to read quality content so I happy to find many good point here in the post.
Thanks you all for sharing useful info....