Learn How to start a small business in Zambia. Are you one of those dreaming that you own your own small business in Zambia? You’re going to be your own manager in Zambia after reading this, and your destiny’s captain — maybe even a business leader. Is it tough in Zambia? Undoubtedly. Is it demanding? For real. Absolutely. Will you need a comprehensive resume to be rich and well-educated in Zambia? Completely not! Can you? Can you? Like the 8-ball wonder says: “All signs are pointing to yes! “So how do you make that work in Zambia, and how do you? Plan, plan, plan, plan! There are some tried and tested ways to start your own company or business in Zambia, and there’s no time to get started like the now!
Ok, let’s be honest now. The Government of Zambia can not have jobs for everyone. If you rely solely on the government to make your life easier,
It’s not as hard to set up a small company or business in Zambia as you thought. Gone are the days of getting thousands of dollars in the bank before beginning a worthwhile adventure in industry. Thumbs up all the small enterprises that sprout up every day in Zambia.
Chaos is causing insecurity among Zambian youth. Political parties are taking advantage of Zambian youth to do their dirty work due to the high unemployment rates.
How to start a small business in Zambia
- Capital – You will need anything valuable to invest in your business in Zambia.
- Business plan – After you have found funds for your business in Zambia, you will need to write up a business plan.
- Operating permit in Zambia – Depending on the type of business you want to start, you might want to get an operating permit.
- Premises – To launch your business, you will need to have a physical place to operate from in Zambia.
| No. | Procedure | Time to Complete | Associated Costs | |
|---|---|---|---|---|
| 1 | Check name for uniqueness at PACRA Agency: Patent and Companies Registration Agency The name clearance is done at the Patent And Companies Registration Agency (PACRA). Recently, the online name search was also introduced on the website of PACRA. | Less than one day (online procedure) | ZMK 56 for name search/clearance and ZMK 111 for name reservation | |
| 2 | Register the company at PACRA Agency: Patent and Companies Registration Agency The registrar is located at the PACRA. PACRA is a stand-alone office with a customer service center designed in a process chain platform, where the applicant goes through various steps: check name, submit the completed Form 2: Application for Incorporation, Form 5: Declaration of Consent to act as a Director or Secretary, Form 11: Declaration of compliance, receive a case number to track the application status, and pay the fees at the cashier. At the end of the process, the applicant returns to PACRA to obtain the certificate of incorporation and the certificate of share capital. The fees payable to PACRA are as follows: – Registration Fee: 2.5% of nominal capital – Certificate of incorporation: ZMK 56 – Certificate of share capital: ZMK 56 – Certificate of minimum capital: ZMK 56 – Companies Form 5: ZMK 56 – Companies Form 11: ZMK 56 | 3 days | see comments | |
| 3 | Register with the local Zambia Revenue Authority (ZRA) office, direct tax division to obtain a corporate tax number Agency: Zambia Revenue Authority The corporate tax number is obtained from the Zambia Revenue Authority (ZRA). | 1 day | no charge | |
| 4 | Register with National Pension Scheme Authority for Social Security Agency: National Pensions Scheme Authority In order to register with the National Pension Scheme Authority, the Employer must file an Employer registration form and attach a copy of the company’s certificate of incorporation. The Employees must complete a membership registration form and attach copies of their National Registration Cards. | 1 day | no charge | |
| 5 | Pay business levy to the Lusaka City Council Agency: Lusaka City Council All Businesses are required to pay a business levy to commence business activities. | 1 day | ZMK 450 | |
| 6 | Register for VAT Agency: Zambia Revenue Authority The VAT registration annual turnover threshold is ZMK 800,000 as per the VAT Act Cap 331 and Regulations. The case-study company would need to register for VAT. To obtain a VAT tax number at the Zambia Revenue Authority (ZRA), promoters must file the certificate of incorporation. | 1 day | no charge |
I am Keith Rainz a content creator in Zambia. I specialize in forex and crypto trading. You can WhatsApp me via +260977770202.
