Registering your SMME: How does it work?
Although government has loosened the belt for some small businesses during the national lockdown, you still need a permit in order to continue doing business.
LIMPOPO – The Department of Small Development has set up a dedicated website where you can register your business for support during these trying times. In this website you can specify exactly what type of assistance you really need.
According to duduonthedaily, businesses that provide essential services and products, need to apply for certification through CIPC’s Essential Service Business portal.
You might also want to read: Informal traders, here’s where to apply for lockdown trading permit
The CIPC (Companies and Intellectual Property Commission) needs to approve that the business is, in fact, an essential service provider and grant operation approval. It’s a simple registration process and the CIPC will issue your business with a certificate stating that your business is allowed to operate during the 21-day lockdown period.
Businesses that are negatively affected – directly or indirectly – due to the Coronavirus pandemic need to follow the criteria below in order to qualify for assistance:
Qualifying criteria
- The business must have been registered with CIPC by at least February 28 this year;
- Company must be 100% owned by South African Citizens;
- 70% of employees must be South African citizens;
- Priority will be given to businesses owned by women, youth and people with disabilities;
- Be registered and compliant with SARS and UIF;
- Seda will assist micro-enterprises to comply and request for assistance must be emailed to debtrelief@seda.org.za;
- whereas small and medium enterprises must ensure own compliance;
- Registration on the National SMME Database – https://smmesa.gov.za
- Proof that the business is negatively affected by COVID-19 pandemic;
- Complete the simplified online application platform;
- Company Statutory Documents;
- FICA documents (e.g. Municipal accounts, letter from traditional authority);
- Certified ID copies of directors;
- Three months’ bank statements;
- Latest Annual Financial Statements or Latest Management Accounts not older than three months from date of application – where applicable;
- Business Profile;
- Six months’ cash flow projections – where applicable;
- Copy of Lease Agreement or Proof ownership if applying for rental relief;
- If applying for payroll relief, details of employees – as registered with UIF and including banking details – will be required as payroll payments will be made directly to employees;
- SMME employers who are not compliant with UIF must register before applying for relief;
- Facility Statements of other funders;
- Detail breakdown on application of funds including salaries, rent etc.
For more information you can visit www.seda.org.za
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