Easy Steps To Registering A Business In Nigeria
Every day, there is a new business idea on its way to the market. Nigerians are quick to run with new ideas and are shaping the entrepreneurship hemisphere with outstanding innovations and business creations. In order to give your business its needed recognition and credibility in the business world, it is important to make it legitimate. This is where business registration comes in.
People have avoided registering their businesses with Corporate Affairs Commission– CAC. Many believe the process is a hassle and a waste of time. However, it only takes a few, easy steps and the entire process can be done from the comfort of your home or office. You will only be required to go to their physical office to pick up your certificate when it is ready.
Here are the steps to registering a business in Nigeria:
- Pick A Business Name:
It is expected that you have a name in mind for your business. You will be required to reserve that business name at the start of your registration. It is advised that you have an alternative name just in case your primary choice is already in use by another business. Once the name has been approved for use, go ahead and do the reservation.
This would cost you a little fee. Click the link to reserve your business name on CAC’s website. http://new.cac.gov.ng/home/name-reservation/
Alternatively, you can visit CAC office closest to you in any part of the country.
See the different locations here: http://new.cac.gov.ng/home/state-offices-2/#
- Make Payments:
As soon as your business name is confirmed, you can go ahead with payment. You can do this at any CAC office; this is good because you get to ask all the necessary questions and get clarity from the officials at the office. The fee is N10,000. You can employ the service of a lawyer but doing it yourself works just as well.
Alternatively, you can go through with the process on CAC’s website: https://services.cac.gov.ng/login
- Collect Your Business Name Registration Certificate:
After all, fees have been paid and forms duly filled and submitted, your certificate should be ready for pick up in a few weeks. The entire process of registering a business should not take more than a month. However, due to the flaws and excesses of bureaucracy, a lot of people have reported experiencing a delay in the process. Sometimes, it takes months before the certificate is ready. Ensure you follow the process diligently to avoid delays.
We wish you all the best in your business!