You can finance your business by any or all of the following ways:
- Fund your startup yourself.
- Pitch your needs to friends and family.
- Applying for a Business loan
- Finding your business through crowdfunding
- Apply to local angel investor
6. Register the business
Once you have registered the business with the Companies Intellectual Property Registration Office (Cipro), you will need to register the business with the South African Revenue Services (SARS) for VAT and tax. Click here for a step by step guide on how to register your business. You will also have to contact your local municipality for more information regarding the bylaws that apply in the area in which you intend to operate the business.
7. Map out your marketing strategy.At this early stage you should try to cover a few key areas in your marketing strategy:Market penetration: this means how you will enter the market and create a distinct space for your business.Communications strategy: this section deals with how you will reach your customers directly. This could include promotions, advertising, and printed materials like flyers.
8. Insuring your business