South Africa nears one-day business registration

4th November 2019

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Trade and Industry Minister Ebrahim Patel on Monday lauded the launch of a pilot phase of a new business portal called Biz Portal by the Companies and Intellectual Property Commission (CIPC).

The single integrated company registration platform will enable entrepreneurs to register a business within a day in South Africa, which is a dramatic improvement on current turnaround times of 40 days recorded by the World Bank in its ‘2020 Ease of Doing Business’ report.

Patel said South Africa was embracing twenty-first-century digital technologies to make it easier to register businesses.

“The portal is a pioneering and innovative project for government e-services. It will improve the time and ease for young people to start new enterprises.”

Biz Portal should contribute positively in the medium- to long term to the ease of doing business in the country, by bringing together business-related services from various public entities within the country.

Through collaborating with the South African Revenue Services, the Unemployment Insurance Fund (UIF) and the Compensation Fund (CF), the CIPC made it possible for applicants of private companies to obtain company registration, a tax registration number, domain name registration, broad-based black economic empowerment certificate, CF registration, UIF registration and a business bank account.

The three-month pilot phase of the system will be strengthened to make provision for other services related to running and maintaining a business.

“From a customers’ perspective, there is no need to visit multiple government institutions, saving them time and money. Such seamless registration services will enable entrepreneurs to focus on transforming innovative ideas into beneficial products and services, which will contribute to the creation of jobs in our country,” Patel said.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION