Chapter Name: Legislative Requirements
Description:Covers the legal obligations and regulatory frameworks that small retail businesses must comply with, including business registration, tax compliance, and employee rights.
Purpuse:To ensure learners understand and can navigate the legal landscape affecting their business operations.
Rational:Compliance with legal requirements is crucial to avoid penalties and ensure the business operates within the law.
Chapters Topics
Knowledge and application of rules and regulations that govern the establishment and running of a business in South Africa
Understanding the legal framework and statutory obligations for starting and operating a business in South Africa.
Types of businesses and the business as a legal structure
Overview of different business types (sole proprietorship, partnership, company, etc.) and how their legal structures affect operations and responsibilities.
Registration of the business with the Companies and Intellectual Property Commission (CIPC)
Step-by-step process and legal implications of registering a business with CIPC in South Africa.
Tax Laws including registration with SARS and relevant legislation
Includes registration as a taxpayer or provisional taxpayer, understanding the Income Tax Act No. 58 of 1962, and complying with the VAT Act No. 89 of 1991.
SARS compliance requirements
Key requirements for employers and businesses to comply with SARS, including UIF (Unemployment Insurance Fund), PAYE (Pay-As-You-Earn), and other tax obligations.
Compliance with Municipal By-Laws
Ensuring that the business adheres to local municipal regulations regarding zoning, health, safety, signage, trading hours, etc.
Key considerations for establishing and forming a business
Strategic and practical aspects to consider, such as business size, costs, financial needs, product types, target market, security, and promotional strategies.
Legal requirements to be met
All statutory and regulatory requirements that must be fulfilled to legally establish and operate a business.