Technological advancements and availability have helped in making the world a global village. This advantage has been utilized by almost everyone. New business and startups are beginning to get customers and clients off the internet and as a precautionary measure, prospective clients/customers will often try to verify the legitimacy of the business they are dealing with.
The Corporate Affairs Commission (CAC) is the body in charge of registering businesses in Nigeria. Some will argue that since I own an online store or a music label or a small-scale business, why should I register a business? Well outlined below are some of the benefits of having a registered business:
- TRUST: When you register your business, you get a registration number in the form of RC**** and this makes customers trust you because they see you as legit and reliable.
- Corporate Accounts: You can open a corporate account with your registered business certificate.
- Loans & Grants: You can apply for loans and grants when your business is registered.
- Ease of Travels: With a registered business, you can easily obtain a visa and travel to any country for business purposes and conferences.
- Investors: You have better access to investors with a registered business as investors look at the business structure first before investing.
- National Youth Service Corp Interns: A registered business can get interns from NYSC.
- Positive Branding: Registering your company enhances the reputation and perception of your business to prospective clients.
Now that some of the advantages of registering your business with CAC has been discussed, you need to note that registering a business with CAC without the assistance of an expert or advisor can also affect your business most especially when the business begins to grow. Issues like taxation, whether to register as a Business Name or Limited Liability Company can only be advised by an expert.
Making this decision and registering yourself can be very stressful and lead to mistakes so it is always advisable to hire the services of a professional.
We at Royal Heritage Law are a team of experts and trademark agents who are readily available to help with your business registration. We make it fast, seamless, and effective.
For more information, contact us on 07059307982 or leave a comment below.