Registering a business name in Nigeria was painted as tough as inside the water without any source of oxygen. Overtime overtime. E many individuals have paraded themselves around as Corporate Affairs Commission agents or Consultants just in the bid to rip you of your hard earn cash.
In 2017, the Federal Government of Nigeria along with the Corporate Affairs commission sat and review the terms involved for an entrepreneur to get his or her business started. This all lead them to review the cost of all form of registration which include: enterprise, limited liability company, public liability company and incorporation.
The price was not the only reviewed item on their list, also the ease of registering was also put into consideration. Now anyone can get their business registered with ease without much stress. I could remember vividly when I was about to register my business name all I had at my disposal was just an internet enabled phone and it served perfectly.
In this article I will be writing on 4 lies told by consultants about registering a business name in Nigeria. Enjoy.
. Business name is expensive: I once fell a victim of this same lie for a long while until I did my own homework properly and discovered that I have been wallowing in ignorance and lies.
To register a business name in Nigeria by yourself all you need is just a sum of N10,500. The N500 is for reservation of name while N10,000 f or the registration once your name has been been approved. To learn how to do your registration
Check out my article: “5 Steps on How to Register a Business name in Nigeria”.
. You need someone to-do it for you: all you need to do your registration is you and your internet enabled phone or laptop. But in a situation where you are confused while you were doing the registration all you need do is to look for someone who understand it better than you to put you through.
Also in Situation where you have little or no time to go through the processes them outsourcing it at such instance is not a bad idea, Otherwise you can get it done without much stress as well or time.
. You need someone to go to their office: the place of going to CAC “corporate Affairs Commission” office to register your business is a waste of precious resources especially if the said business registration is Enterprise. CAC have made provision on their website for easy registration processes. The best part is that you can make all the payment on their portal using your ATM card through Remitta’s payment gateway.
. It takes longer time: I once overheard someone saying someone told him business name registration with the Corporate Affairs Commissions takes about three month to complete. This is not true. At most if I there is any hitch you should be able to resolve it and receive your business certificate within a period of three weeks at most. The process has been highly simplified that even a dummy can go through the process successfully without hitch.
Note: For those who have little knowledge about the different business registration we have, below is a list of the types :
. Business name or Enterprise
. Limited Liability Company
. Public Liability Company
Do your own research about them in order to know what they entails.
Thank you you for reading to this point. Please do me a favour by sharing the article for others to enjoy.