How to Start a Construction Business in south africa

To start a Construction Company will demand a lot of planning and preparation. In the same way that you need to draw up plans for a building to build it, you will need to draw up a plan for your business before you can start it. Proper planning will ensure that your construction company is built on a solid foundation and that it is set up for success.
1. Write a business plan.

A business plan is a formal document that details the goals of a business, the strategy that will be used to achieve those goals. The purpose of writing a business plan is to provide you, the entrepreneur with a crystal clear picture of the likelihood of success for your business in a rapid and ever fluctuating dynamic business environment A business plan essentially is a roadmap for your business; it tells the story of why your business exists (vision)? It speaks of what your business want to achieve (mission), and of speaks of how your business plans to achieve its vision and mission (strategy). ….READ MORE

2. Do market research.
Before you even think about starting a business, you need to understand your market. Start investigating the potential profitability of a construction business in your area.

3. Decide where you will run your business.You will need a property that provides an office for your administrators, large storage space for tools and equipment, and parking for your construction vehicles. Some construction company owners work from home. You could begin your business at home, but as it grows, you may want to consider finding an office location.

4. Get the funds you need. The startup costs associated with a construction company can vary dramatically based on where you operate and what services you provide. Keep in mind that you will need funds to lease or buy vehicles, equipment, and tools. Additionally, you will have to pay bills, advertise, and pay salaries.  You can finance your business by any or all of the following ways:

  1. Fund your startup yourself.
  2. Pitch your needs to friends and family.
  3. Applying for a Business loan
  4. Finding your business through crowdfunding
  5. Apply to local angel investor

5. Register your business.

Your business name plays a role in almost every aspect of your business, so you want it to be a good one. Once you have chosen a name for your business, you need to register it. Click here for a step by step guide on how to register your business

6. Get insured.

In order to protect yourself and your business, you will need a variety of comprehensive insurance policies, including general liability insurance, commercial vehicle insurance, and property insurance. ….  find out more ” types of business insurance