South Africa’s economy is to a large extent driven by a vibrant small scale business sector. It is however this very key sector which faces many challenges such as registration, information, financial capital and other resources. In order to alleviate all these challenges, Nedbank which is one of the country’s biggest financial institutions stepped into the picture by offering small business services.
One of the intervention measures Nedbank has come up with is to help small businesses register themselves. In order to ensure this is done, Nedbank has partnered with a company called SwiftReg who are specialists in new company registrations to enable registration of Nedbank clients in a convenient manner. Clients can also be assisted to change one type of business entity to another. This service ultimately removes the need for an accountant or lawyer in this process.
Any client opening a Nedbank small business services current account can make use of this account but its even more suitable to busineses in the startup phase of business. An annual turnover of between R150,000 and R7.5 million per annum is also a prerequisite.
Customers can make use of this service by visiting any Nedbank branch,ask for a Nedbank small business services representative, this representative will then request the necesary information and facilitate the process of registration.The SwiftReg fee is R390 for a new (pty) Ltd which includes the first director and shareholder, afterwards a charge of R30 per director and shareholder will be demanded.These fees can be paid directly into the companys account at the bank teller. A copy of the deposit slip must then be given to the banker who processes the documents.
The Nedbank small business service is definitely helping to lay foundations for many businesses.
You can apply for a Nedbank loan here