INSIDE YOUR BUSINESS: What are the different types of companies in South Africa.
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Identifying the structure or type of entity to suit your company’s needs, is vital to any successful business. This decision will largely impact on the manner in which the company is administrated and regulated and has to suit the nature of your business and its memo operandi.
The Companies Act 71 of 2008 differentiates between two types of companies – companies that trades for profits, and those that don’t, more generally referred to as profit companies and non-profit companies. The law then further differentiates between four types of profit companies, namely a private company, a public company, a state-owned enterprise (hereafter SOE) and lastly, a personal liability company.
The Companies Act 71 of 2008 differentiates between two types of companies – companies that trades for profits, and those that don’t, more generally referred to as profit companies and non-profit companies. The law then further differentiates between four types of profit companies, namely a private company, a public company, a state-owned enterprise (hereafter SOE) and lastly, a personal liability company.
