How To Start A Bookkeeping Business In South Africa

After passing your exams registering with the ICB buying insurance and observing all the rules and regulations youre now ready to start up your own bookkeeping business. Starting your own accounting business sounds like a lot of work.

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But starting a new business can be a nightmare if you dont know the rules of engagement.

How to start a bookkeeping business in south africa. This is a guide on how to start an accounting firm in South Africa. Acquire the necessary skills by studying a bookkeeping course. If not then you will need to hire or partner with people who have all the necessary requirements.

Then when you are earning enough from your part time bookkeeping business to sustain you you can leave your corporate job and focus on building your bookkeeping practice even further. Funding for various types of businesses is available through the Industrial Development Corporation or the Department of Trade and Industrys Government Investment Incentives. Theres about a dozen popular tax packages out there and almost all of them offer pay-per-return.

In 2019 the business was ranked 211 on the. Why would I want to start an accounting firm. Company Registration offers you both a company registration.

Click here to find out how to register a company. Whats great about starting a bookkeeping business is that you can start doing it part time ie. The simplest option is to start as a sole proprietorship this means youre a self-employed individual rather than a business.

Setting up your business. Starting an accounting firm or bookkeeping business is actually not that different to starting any other business. Take care of the logistics such as registering your business and setting up your office.

The tax business most people choose to start out on a pay-per-return basis. If you are going to start this business solo then you will need to have all the relevant papers and accreditation with you. It is however extremely helpful.

Since 2001 Ive helped over 7000 people and growing everyday start a bookkeeping business. Company registration at the CIPC isnt compulsory to run a legal business in South Africa. Thanks to the internet you can get training for everything you need to know about bookkeeping and starting your bookkeeping business online right at home.

I am still building up my client base so right now I am earning a little over 1000 a month. There are a few different ways you could structure a bookkeeping business. After working hours and on weekends.

There are 5 main steps youll need to take. Starting an accounting firm is like starting any small business it requires a lot of work. High unemployment rates are driving new start-ups in South Africa.

However industry and consulting firms list accounting firms as one of the single most profitable small businesses a person can start right now. The South Africa Government Services website has information on registering a business. My bookkeeping business is replacing my former job so I am working up to a full-time income.

Youll need to register as self-employed with HMRC unless you are setting up a limited company. Software for a bookkeeping business typically is going to run you under 200 and that might be for several years or some people might choose to upgrade every year. These are the questions you should be asking if you want to start your own business.

And because the average bookkeeper earns 41000year these folks have a money-making skill they can use for life.

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