The Corporate Affairs Commission (CAC) has extended the initial deadline of 31st December,2018 for the registration of Business Name for 5,000 naira
The new deadline is now March 31, 2019.
This initiative was approved by Vice-President Yemi Osinbajo in October for small-scale business to maximize the opportunity to register their business name.
In the statement by the CAC;
PUBLIC NOTICE – EXTENSION OF REDUCTION OF COST OF BUSINESS NAMES REGISTRATION BY 50%
In an effort to deepen the benefits of its reform initiatives, the Corporate Affairs Commission has extended the reduction of cost of Registration of Business Names from N10,000 to N5,000
after the Name Reservation of N500, with effect from the 31st December, 2018 to 31st March, 2019.
The Business Incentive Strategy is aimed at creating a window for Micro, Small and Medium Enterprises (MSMEs) to formalize their businesses, Members of the public are enjoined to take advantage of this window, to register their Business Names at the reduced cost of N5, 000 after the Name Reservation of N500.
To start the process Click Here.
A business can be described as a commercial activity involving the exchange of money for goods and services provided (Encarta Dictionary).
What I describe here is a model/template on how to approach the procedures involved in starting out a business to ensure it becomes successful. It cuts across every field of profession. It can be used in any line of business, from agriculture, construction, ICT, Oil & Gas, you name it. The model has proved itself to deliver quality results; desirable and reliable once acted upon meticulously, in the sequence suggested and according to instructions as directed.
There are three basic stages involved when it comes to starting a business, they are listed below:
- RESEARCH STAGE