The Department of Trade and Industry (DTI) has launched the pilot phase of a new business website which aims to significantly improve the ease of doing business in South Africa. https://bizportal.gov.za
In a statement on Monday (4 November), Trade and Industry minister Ebrahim Patel said that the Biz Portal means that an entrepreneur will be able to register a business within a day in South Africa, a dramatic improvement on turnaround times of 40 days recorded by the World Bank 2020 Ease of Doing Business Report.
The current price for registering a company through the portal is R175.
However, Patel said that the Biz Portal was not limited to just registration, and that South Africans will also be able to access several business-related services to help in starting their company.
This was done through a collaboration with the South African Revenue Services (SARS), the Unemployment Insurance Fund (UIF) and the Compensation Fund (CF), he said.
Patel said that this collaboration means that users will be able to access the following features through the portal:
Tax registration number;
Domain name registration;
Compensation Fund registration;
Unemployment Insurance Fund registration;
Business bank account.
Currently four major banks are participating on the platform and customers will be able to make a direct payment in relation to the registration services at the end of the transaction, be routed into a safe banking platform to apply for a business account or opt for their personal details to be passed on to a bank of their choice.