Starting a business in Senegal: the key steps

You have an idea, a few customers in sight, maybe already an informal activity. Now is the time to make it official. Here are the key steps, in the order you will meet them.

1. Choose the legal form

This is the most important decision, because it sets your obligations, your taxes and what you personally risk.

• Sole proprietorship (entreprise individuelle): you are on your own, with no capital to contribute. It is the simplest way to start a small activity, but your personal assets are not separated from the business.
• SARL (limited liability company): you have several partners. Each one only risks what they contributed. It is the most common form for small businesses.
• SUARL: an SARL with a single partner. It protects your personal assets even if you are alone.
• SA (public limited company): for larger projects, with more formalities and higher capital.

2. Prepare the documents

The documents required depend on the legal form. At the very least, plan for:

• a valid ID for each partner and for the manager;
• proof of the registered office address (lease, domiciliation certificate);
• for a company, the articles of association signed by the partners.

Well-drafted articles of association will prevent disputes between partners later on. This is not a document to copy at random from the internet.

3. Register the business

In Senegal, APIX acts as a one-stop shop: a single procedure gives you registration in the trade register (RCCM), your tax identification number (NINEA) and your declarations to the social security bodies. Part of the process can be completed online.

4. Start on the right foot

Once registered, your business can issue invoices. A few habits to adopt from the first month:

• open a business bank account, separate from your personal account;
• know your tax obligations and filing dates;
• register your employees with IPRES and the Social Security Fund if you hire;
• keep simple accounts from day one, even for a small activity.

If you are looking for funding, also prepare your business plan: it is the first document a bank or funder will ask for.