How To Become A Businessman

Who is a businessman?

A businessman or businesswoman is a person who has ownership or shareholdings over a private establishment and undertakes activities (commercial or industrial) for the purpose of generating cash flow, sales, and revenue by utilizing a combination of human, financial, intellectual and physical capital with a view to fueling economic development and growth.

Where and how to become a businessman in Namibia

• Conduct market research. Market research will tell you if there’s an opportunity to turn your idea into a successful business.
• Write your business plan.
• Fund your business.
• Pick your business location.
• Choose a business structure.
• Choose your business name.
• Register your business.
• Get federal and state tax IDs.
• Apply for licenses and permits
• Open a business bank account

Frequently Asked Questions

How do I start a business in Namibia?

Obtain the approval for a company name from the Registrar of Companies. Pay the registration fees and buy revenue stamps at the Receiver of Revenue. Hire an attorney to register the company with the Registrar of Companies; obtain the certificate to commence business. Deposit the initial capital in a bank account.

What do you need to do to become a businessman in Namibia?

Most businessmen have at least a bachelor’s degree in business, marketing, accounting, management or a related field. Those who want to move up the corporate ladder often get a master’s degree or MBA – master of business administration – which is often a prerequisite for executive positions.

How do I start a business in Namibia?

• Conduct market research. Market research will tell you if there’s an opportunity to turn your idea into a successful business.
• Write your business plan.
• Fund your business.
• Pick your business location.
• Choose a business structure.
• Choose your business name.
• Register your business.
• Get federal and state tax IDs.

How can I make money fast in Namibia?

• Become a High-Paid Remote Freelancer.
• Start a Successful Podcast.
• Start a Blog The Right Way.
• Start Making Money Online By Joining a Social Investment Network.
• Build a Niche Blog for Affiliate Marketing and Digital Products.

What should I invest in Namibia?

• Cutting and polishing of precious and semi-precious stones, marbles and granites.
• Leather products.
• Glass products.
• Manufacturing of pharmaceutical products.
• Down-stream processing of gas.
• Cement manufacturing.
• Steel manufacturing.
• Textiles and garments manufacturing.

How do I register my small business in Namibia?

To register a company in Namibia, you need to visit the ministry of finance to register for your VAT and the company tax, the ministry of home affair for your work permit, the ministry of labour and the social security commission. You can also go to any of these ministries to register for your company.

Can a foreigner open a business in Namibia?

The most common structure for a Namibian investor permit applicant is a Namibian company. It therefore follows that a foreign shareholder can own 100% of the shares in a Namibian company. The company may appoint Directors and shareholders need not be natural persons.

Is Namibia rich or poor?

Despite its high income, Namibia has a poverty rate of 26.9 percent, an unemployment rate of 29.6 percent and an HIV prevalence rate of 16.9 percent. Poverty in Namibia is acute in the northern regions of Kavango, Oshikoto, Zambezi, Kunene and Ohangwena, where upwards of one-third of the population lives in poverty.

How do I register a cash loan business in Namibia?

• Plan your business.
• Form a legal entity.
• Register for taxes.
• Open a business bank account & credit card.
• Set up business accounting.
• Obtain necessary permits and licenses.
• Get business insurance.
• Define your brand.

Can I start a business in Namibia?

There are many profitable business opportunities that you can start as a Namibian entrepreneur. You can start most of these enterprises at home or open a small shop and make some money for a living.

Can I retire in Namibia?

The legal retirement age in Namibia is 60 years. Early retirement on reaching the age of 55 is also possible on the approval of the prime minister.

What is the best business in Namibia?

• Food Business Ideas In Namibia.
• Organizing Private Classes For Students.
• You Can Become a Web Designer In Namibia.
• Start A Gym Business.
• Photography Business In Namibia.
• Start A Backyard Garden.
• Create Your Own Blog.
• Start A Cosmetic Business In Namibia.

Can a foreigner start a business in Namibia?

The most common structure for a Namibian investor permit applicant is a Namibian company. It therefore follows that a foreign shareholder can own 100% of the shares in a Namibian company. The company may appoint Directors and shareholders need not be natural persons.

How can a foreigner get a job in Namibia?

• A fully completed application form.
• 2 recent passport sized photographs.
• Educational certificates and qualifications.
• A record of the applicants previous positions held and work references.
• A police certificate form the applicants country of origin.
• A radiological report and medical certificate.

How can I get rich in 5 years in Namibia?

• Get paid what you’re worth.
• Save a ton of money
• Develop multiple streams of income.
• Invest in what you know.
• Monitor your net worth.