So you’ve decided to change your company name. It’s not as simple as a decision to change, there’s people you need to update on the change.
I’ve just been through this with the name change from Business In Theory to Business Process MechanicsA company name is not as simple as a decision to change, there's people you need to update Click To Tweet
Here are the steps to change your company name
- Search – to make sure the name is available
- Reserve the new name – you can ask for 4 names and you will receive confirmation on which you can use. Once you decide based on the response, you can confirm the name to use.
- Expect a Company Certificate.
- You can do this via the CIPC eservices.
- Update the bank
The bank will need the Company Certificate and the director’s identity documents (ID) to change the bank account details. Make sure you get a Confirmation of Banking Details letter – you’ll need this for SARS and Department of Labour.
- Update the taxman – SARS
Either go to SARS or update via eFiling. Make sure you have your Company Certificate, Confirmation of Banking Details and the original resolution signed by the directors (if the company has more than one director). Might as well check if all your taxes are in order.
- Update the Department of Labour
If you have employees or you run your salary via payroll and you have PAYE or UIF – contact the department of Labour directly as they do not accept company name changes online. Here’s what they need.
- Re-brand and tell everyone
Update all your marketing material with the new company name and any information that has changed. We don’t have the same reasons for changing the company name. Make sure your audience and customers understand why the change and what has changed.
Remember to celebrate every milestone.Business In Theory has changed it name to Business Process Mechanics Click To Tweet