Identify any form of business you would like to start .

Give the registration procedure that are

required and say in your area of operation what steps you are going to undertake giving real
names of places you will visit at each stage and the documents you will use in order to fully
register your business

*A private limited company is defined as one of the stock companies where at least two but not
more than fifty people come together to run a business with the main aim of to make a profit .the
form of the business the entrepreneur would like to venture into is a Private limited Company
.The business name is Caremore Top Private limitedCompany which will be specializing on
truck hiring as a mode of transport for goods and operating on local and international routes.

# Purpose of forming the Company

The company is aimed at alleviating the degree of scarcity of transport in Zimbabwe and mainly
aimed at providing reliable ,time bound ,effective transport facilities in order to enhance
movement of goods around the nation and across the borders .The company enjoys limited
liability .This entails that the liability of the company is limited to the amount of the share capital
introduced when forming the company .Personal properties of the company shareholders,
directors are not taken in the case of bankruptcy,insolvency and failure to pay back debts and
loans.

#Formation of the Company

A series of stages should be followed to fully register the company starting up.The following
information provides sequence of stages in which the entrepreneur should follow when venturing
into business

1.Naming the Company

The entrepreneur should start by naming the private limited company. As an entrepreneur the
name of the Company will be Albert Garden Private Limited Company.A business name search
must be conducted at the Chief Registrar of Companies.This involves registering the name of to
prevent companies` from operating under same name; this creates confusion to the consumers.

The business name must therefore not be deceptive about its type of business. Below is a
company`s name, postal and email address: Albert Garden Private Limited
Bag 789 Hre. Fax No 107834
Tel: +263783 156 922/1/2
Email: info@age.co.zw
www.albertgarden.org
3. File Memorandum of Association and Articles of Association with the Registrar of Companies

The Memorandum of Association set out the company`s constitution that is how the company
Albert Garden Private Limited Company should relate to the outside world. The document sets
out the following information:-
# The Company name, thus Albert Garden private limited company.
# The purpose of which the company has been formed, thus provision of transport hiring.
# The statement that the liability of the company is limited.
# Maximum number and value of shares to be issued to relatives and friends.

4. Articles of Association
The Articles of Association spells out the rules of running Albert Garden private limited Company. The
rules will be for :-
# Appointment of Directors
# Conduct of directors Board meeting and Annual General meetings.
# Increasing and decreasing total number of ordinary shares and preference shares.
# Procedures to be taken on selling ordinary shares and preference shares to relative and friends.
# keeping of financial records such as financial records of meeting, financial statement that includes,
trading , profit and loss accounts and statement of the company`s financial position thus the Balance
sheet.

5. Registering the company to ministry of Transport services.

The Memorandum of Association and Articles of Association are filed together with an application tothe
Ministry of Transport and Communication .The company shareholders will be issued a certificate of
Incorporation which acknowledges approval of the company legally to be fully established .

6. Certificate of incorporation

A certificate of incorporation is a key document produced in connection with a venture capital portfolio
investment. It is a statement that is filled with a State official in forming a corporation stating its name
,purposename, purpose, and distribution of stock. Its precise meaning will depend upon the legal system
in which it is used.

7.Register with the National Social Security Authority for Revision and Accident Prevention and
Compensation Scheme.

The employer and employee must each contribute 4% of their gross monthly salaries.The company
should therefore register with National Social Security Authority for revision and accident prevention
and compensation scheme. The scheme emphasize on the health and safety of employees in a business
organization. It also emphasizes on accident prevention and compensation of employee.

8. Register with the Manpower Development Fund

Employees must register with the Manpower Development Fund. The employee will be entitled to
contribute 1% of their wage bill to the state run manpower Development Fund. The Manpower
Development Fund enable the employer to recover the cost incurred when employees complete
training.

9.Register with the Regional Zimbabwe Revenue Authority Office

A Memorandum of Association, Articles of Association, copy of certificate of incorporation and a copy of

the identified assigned public officer must be used to register with the Zimbabwe Revenue Authority.

10.Raising of Capital

Capital refers to the resources used in the starting up or formation of a new business. Capital of Albert
Garden private limited company will be raised by selling of ordinary shares and preference share to
family relative and friends. Ordinary shareholders will be the owners of the company having one vote
andPreference shareholders will be creditors to the company. Ordinary shares and preference shares
are not advertised on the Zimbabwe Stock Exchange (ZSE) for sale.

Another way that is very important on raising capital for Albert Garden private limited company is
through presenting my business plan to several banks so that I may request to be offered long term
loans. This is by the way to cover some of the business expenses other fixed assets such as land,
business vehicles and premises.

11.Preparation of a Business Plan

A business plan is prepared which is a document that looks ahead into the future of the company
determining the tasks to be achieved. The plan will enable Albert Garden Private limited Company to
work with a direction, facilitate in resource allocation, guiding the entrepreneur in the daily operation of
the business and it will be used as a standard of measuring the performance of the company.

12. Business Plan

The document is composed of the following sections:-

*Executive Summary

*Business Background

*Marketing Plan

*Personal Plan

*Legal responsibility

*Financial Plan

*Appendix

13.Commencement

After all the necessary registration have been done, the company will be declared a fully establishes and
legally formed private limited Company. Albert Garden private limited company will start to operate
with proper management and l expect that the company will survive regarding to completion and state
of the economy.
REFERENCES

1. Neil Denby (2007), BUSINESS STUDIES REVISION GUIDE,CPI,BATH,GRAFT BRITAIN.

2. HattenTimothys (2009),PRINCIPLES OF BUSINESS MANAGEMENT ,5th ed. South-
Western,Cengageleavy.
3. Geoffrey Whitehead (1981) COMMERCE MADE SIMPLE,12th ed. William Heinemann,
London

4.MagaretChinyai, Albert Kanyangusura and Samuel Makore (2005) STEP AHEAD O LEVEL
COMMERCE,Longman Zimbabwe.

5.KarenBorrington and Peter (2006), COMPANY ACT CHAPTER 24:03

Registration procedures taken to register a private limited company
At first l reserve the company name to the chief register of companies, in this case my initial name will
be included and its Albert Gardens Engineering Company. l have choose this name for my company since
it will be a direct competitor to companies such as Tanroy Engineering , Auther Gardens Engineering and
other engineering companies which operates in the producing and maintenance engineering sector or
industry. This is done by the way of C.R 21 forms according to section 24 of the Act.

This stage is very important because it is a requirement word wide that the business has to have a name
and l will pay $10 for the above form and now going to another form of preparation which is known as
the Memorandum of association.

The Memorandum of association is the

The third stage is the Articles of association which can be described as

Then l will fill the C.R 6 form according to section 112 and 331 of the companies Act and regulations
section 19.The form is a notice of physical location and postal address of a companies registered office.
On this form it will be stated as Albert Garden Engineering
48 Douglas Road, Workington
Harare Zimbabwe
Tel;0783 156 922/1/2
Email info@age. Co.zw
www.albertgarden.org
Postal address :Box 381 Hre

The purpose or significant of this stage is to be known the residence referring to the office of the
company. Then l will fill the company registration 14 from [CR14] .On this form l will state the
companies