South Africa has a prosperous business front. The introduction of certified translation services has slowly brought upon a revolution in the South African business industry. According to the New Companies Act introduced in the country in 2011, the three most common business structures now allowed here are sole proprietor, close corporation and private company.
Sole proprietor simply means the “sole trader” wherein you start trading for yourself. This is by far the simplest form of a business setup and does not require much effort on the part of the entrepreneur. The business is run by one single individual only and there are no legal distinctions. Close Corporation (known as CC) on the other hand could have been a good opportunity for investment but for new starters in South Africa, this is no longer an option. No new Close Corporations are being registered in the country.
For beginning entrepreneurs wishing to start their businesses in South Africa, private company setup is by far the best option. It involves the creation of a new identity of the person or the company in order to commence trading or business. Trading through an established company gives you an upper hand. It provides you with a better professional image while simultaneously running things in a proper way and following the prescribed business laws of the country. All you need to do to start a new business is to register yourself with the South African government for income tax and other necessary licensing.
However, there are some common problems in the initiation of a business setup that new entrepreneurs are faced with in South Africa. Doing business in Africa has its own form of hurdles and challenges. For instance, in South Africa, the greatest problem for business entrepreneurs is a lack of electricity. Another problem faced in South Africa by foreign investors is the barrier of communication due to language complexities. Most of the hurdles faced by investors are language related. Although English is widely spoken in the country, the majority of South African people are not adequately proficient in conversing in the language and businesses must rely on professional translation services such as those offered by The Marketing Analysts.
The solution to this problem is the establishment of more legal translation services all around the African country to facilitate the communication between foreign and local investors. These translation services will greatly help to promote the business sector in Africa. Providing better translation services will further improve business communication in South Africa.