An explanation of security companies
An organization known as a private security company offers clients in the public or private sectors security services and expertise, whether they are armed or unarmed.
Beginning A Security Company In South Africa
Starting a security business requires a person with experience in the industry. In order to launch a security company, you need a lot of information and expertise. Selling security products or offering security services are your two options. In order to work in either of these fields, you must be knowledgeable about the various tools that security experts employ and be able to offer guidance to other members of your field. The two forms of security can even be combined.companies if you’d like to do that.
If you want to start a security company in South Africa, there are a number of registrations that must be completed and certificates that must be obtained. Below, we’ve listed the six most crucial registrations/documents that you would need to start a security company.
Step 1: Register your company with CIPC
For your business to be legally recognized as a registered entity, you must first register it with the Companies and Intellectual Property Commission (CIPC).
Once your company is registered, you will receive a company registration number from the CIPC department. This number is necessary to finish the remaining registrations and certificates on the list below.
Publish your business.
COID letter of good standing is the second step.
COID is also referred to as the compensation for workers fund. To provide coverage for any injuries your employees might sustain while performing their duties, you must register your business with the Department of Labor for COID.
Additionally, the department will provide you with a letter of good standing, which is needed for the majority of tenders and contracts.
Get a letter of good standing.
Step 3: Certificate of SARS tax clearance
Your company’s tax clearance pin is listed on a tax clearance certificate that SARS has issued. The Pin is used to verify your company’s status as being in tax compliance with SARS.
Acquire a tax clearance certificate.
Step 4: B-BEE certification or affidavit
The B-BEE qualification level of your business is attested to using a B-BEE certificate and affidavit. According to a B-BEE qualification level,black South African ownership of your business. More details about B-BEE can be found HERE.
Obtain a B-BEE affidavit
5th step: CSD
The CSD registration (MAAA) number you receive after completing a Central Supplier Database (CSD) registration can be used by any department or person to verify the information about your business.
Get an MAAA (CSD registration) number.
PSIRA, step six
The Private Security Industry Regulatory Authority, or PSIRA as it is more popularly known, is an agency of the government that determines whether or not your business is qualified to provide security services.
You must register at PSIRA in order to submit an application for security contracts or tenders.
How much does it cost to set up a business in South Africa with Psira?
A company’s PSIRA registration number is R6750.and not transferable. BUT before you can register your firm with PSIRA, there are a number of costs that you will need to cover. We advise investing at least R50,000 when starting a security company.
Is it financially viable to start a security firm in South Africa?
How much revenue can a security guard business generate? Per security guard, per year, security firms can earn between R40,000 and R60,000. You could be able to earn R300,000 at first if you hire a team of five security guards.
How do security firms in South Africa find customers?
Include keywords and phrases like “private security services” and “security guards” to increase the number of visitors to your website. Attempt to include any local terms that potential customers might use.
