We believe in growing to change!
Besides the obvious reasons (which many are not even aware of), we moved from a CC (Close Corporation) to a Pty (LTD) (Proprietary Limited).
For many, this may seem like a mundane and generally obvious move, but it was quite a monumental growth move for us.
While the benefits of moving from CC to Pty (LTD) were good – the growing to change benefits were:
- As a Pty (LTD) is seen as a separate juristic person, it meant our shareholders had limited liability when it came to the company’s debt – great news!
- No limitation on how many shareholders we could have – great growth move right there!
- Obtaining funding became easier as we could essentially barter our company’s equity as surety – good options!
- Matters pertaining to management, governance, and control are all laid out in the memorandum of incorporation. This is important when there is more than one shareholder. All the shareholder’s rights, duties, exit strategies, and funding obligations are carved out and clearly defined – no confusion or fights here!
- A private company need not have independent reviews and can employ internal accounting staff – a significant time and cost factor, in fact!
Okay, so now we have given you a brief lesson on why moving over to a Pty (LTD) is a good idea for factual reasons alone; here is why it has been a more significant growth factor outside of that.
Why we moved over to a Pty (LTD)
For us, it speaks volumes about our growth and willingness to change, even after almost two decades in business. It is very easy to get stuck in one’s ways. To do just what you did last year and the year before that because it worked. That cliché? “Don’t fix what ain’t broken”. Well, nothing was broken here at Complete IT Business Solutions, but it certainly needed a little maintenance and revamping.
Our growth potential has increased phenomenally. We have more options. We are more attractive to possible investors, suppliers, and of course, to our customers.
This business format’s structure has proven an eyeopener for us. We do feel more in control, ready to take on more challenges, larger clients, and bigger projects.
A simple and progressive move? Yes! A growth and change-ready mindset? Most definitely!
We look forward to welcoming you into the Complete IT Business Solutions family.