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Operating in the informal sector and not register your businesses. This has its advantages and also disadvantages, there are multiple benefits to\u00a0registering your business in South Africa<\/a>. Here are seven benefits of registering a business in South Africa.<\/p>

1. Having a business account<\/strong><\/p>

Registering a business allows you to have a business account. This is where all the business finances go. It makes it much easier to manage the finances. They do not get mixed up with your personal finances. Second advantage is that you get to give your clients your business account name for deposits, which makes you seem more professional.<\/p>

2. Establishes trust with your clients<\/strong><\/p>

People tend to trust registered companies more than unregistered ones; it shows that your business is not a scam or fly-by-night. More people will easily trust you; some people are so skeptical to a point that they will ask for your business name just to check if it\u2019s registered.<\/p>

3. Tax benefits<\/strong><\/p>

You will be taxed at a personal income tax rate if you, you might end up paying 38% in tax. Registering the business shields you from the responsibility of paying taxes until your business is really big. At which point you will only pay 27% in tax; you can pay 0% in tax if your business makes less than R335 000 annually. There are also a lot of tax benefits, you start paying the 28% corporate tax rate when you make more than R1 million per year.<\/p>

4. Legal liability protection<\/strong><\/p>

You will not be held liable for the liabilities of the business if it\u2019s registered. However, if your business is not registered, you are liable for all its debts and other liabilities. This means that you risk losing your personal assets like your car, house, and other things. It only takes one customer to sue your business and your personal assets are automatically at risk.<\/p>

5. Getting funding<\/strong><\/p>

It is much easier to raise funding when you have a registered business. Investors will not take you seriously if you are running an unregistered business, it\u2019s also way harder to regulate a business that is not registered.<\/p>

6. Applying for tenders<\/strong><\/p>

You can\u2019t apply for government tenders if your business is not registered, this is a reality that faces most small business owners in rural areas. It\u2019s also much harder to get other tenders like cleaning and gardening tenders from other government and private institutions.<\/p>

7. Protecting your business identity<\/strong><\/p>

Registering the business means that your corporate identity is protected, no one will steal your business name. Other people can steal your business name, register it then sue you for using it. It\u2019s best that you register your business and trademark your logo. These were some of the benefits of registering a business in South Africa. At Accountica we offer a fast reliable\u00a0company registration service\u00a0that costs you\u00a0R450<\/strong>. Within minutes you can start benefiting from all of the benefits we have listed. Registering a business has more advantages than disadvantages and it\u2019s something that you should absolutely do.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/body>","protected":false},"excerpt":{"rendered":"