Outsmart that Competitor
Tips to get your Side-Hustle going:
- What is the products benefit, and how does yours stand out from the rest?
- What’s you’re packaging and marketing strategy?
- Have your product reviewed.
- What possible improvements can you consider after the review.
- Can you personalize it, can you use a different material (eco-friendly).
Make something better (or cheaper) than what’s our there.
Make something better (or cheaper) than what’s our there.
If you can offer the product at a lower price point, better quality or maintain both you will have plenty of customers.
Make a list of everything you use, then research on what you can improve on.
Legalizing your small business:
CIPC REGISTRATION
All businesses need to be registered with The Companies and Intellectual Property Commission (CIPC). The CIPC is an agency of the Department of Trade and Industry in South Africa, assisting with the registration of companies and intellectual property rights (trademarks, patents, designs and copyright).
TAX
It’s best to speak to your tax practitioner about the requirements for registering your business with SARS as well as other regulatory and statutory requirements. You need to register your business with the South African Revenue Services (SARS) regardless of its size. In the case of a Company or Pty Ltd, your business is automatically registered with SARS when registered with the CIPC.