welcome to entrepreneur’s creed,
My guess is that you want to know the basic requirement needed to register a business name in Nigeria, right? then welcome once again.
Why do you need a business name, when you can just jump out and start your business since you are the sole owner of the money you are going to use to start the business?
the reason why you need a business name is because you stand the chance of getting better opportunity than the person who is an unregistered business owner.
this are some benefit of registering your business name
- you can easily open your companies account when you have a registered business, ask those who have really done good business and the will tell you why you need to get an account for your business instead of using the normal personal account that you are use to.
- other agencies in Nigeria and abroad will never take you serious if your business is not registered. if you are going to get your business into the big business arena, the you must get your business registered.
- finally, if you ask me to pay money to you, i would prefer to pay into your business account than your personal account, if many other people have this same thought, you know how it is going to affect your business. get a business name so that your customers will feel comfortable paying money to you.
Basic Requirement For Your Business Registration
now it time to look at the basic requirement for your business registration process.
- get a preregistered name: this is where many people get stuck, so ensure you prepare the names that you are going to register; it will save you time if you do.
- two passport
- a partner : you cannot register your business name alone, this does not mean your partner is going to be part of your business, it is a way of getting someone as a referee in the process of registering your business.
- partners passport: partners passport is required for record purpose.
- payment fee:you will be require to pay the sum of 10,000 naira before the end of the registration process.
- do it yourself or get a lawyer to do it for you. this part is very essential before you hop out to register your business. you can go all out to do it by yourself, but if you feel you don’t have the time, you can use the service of a lawyer to do it. i will advice you to do it yourself, because it i will help you to understand the process of doing it and also some providing a suitable name for your business will be done with ease. remember, the name you choose will have to be checked for its availability before you can proceed with the registration. I guess you can now understand why you need to do it by yourself. choice is all yours.
this are the basic things that you need to prepare for before embarking on registering your business name. remember this requirement is only meant for registering your business name and not other things that has to do with CAC
now lets get to the step by step process of registering you business please click here.
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Hello, I am Josh .S. Doye, the chief editor of this great blog. He is a freelance writer with an eye for detail; you can connect with him via the contact page on this blog.