WAYS REGISTERING YOUR COMPANY CAN HELP BOOST YOUR BUSINESS EXPOSURE

 Becoming an Entrepreneur entails the ability to manage and grow a business From the scratch using all the necessary tools applicable in any given area. The goal of every business man within the above background is to grow his business With little or no hitch, then become successful and established within an expected possible time.

Achieving your goals in business requires that every Entrepreneur must follow the basic and acceptable blue print. These are simply the foundations that will help you grow your business and give it the necessary exposure it requires. The foremost foundation to grow your business is "Taking Steps To Register A COMPANY or Business Name". 

When your Business is registered ( either as a Company or Sole Proprietorship) it has assumed a full corporate status, according it all necessary rights and liabilities under the Law. By this alone, you must have given your business it's first exposure. Under the Companies and Allied matters Act LFN 2000 (CAMA), Companies assumes the status of "Artificial Person" such a way that it has the capacity to sue and be sued. If your business is registered under Business name ( Sole Proprietorship), your business and it's name is registered such a way that no other person can trade under the name and style of that name. 

The fallout of the above is the fact that registered Businesses basically enjoy lots of benefits, incentives and more prospects from the Government acting through our Laws. In view of this, here are other benefits of registering your Business:

1. Operation Of Corporate Current Account

Corporate Current account is a Business account that bears only the name of the business it is registered with. This is different from individual savings/Current account where accounts are opened in the name of individuals. Registering your Business gives you the leaverage of operating a Corporate Current Account which have so many benefits for business owners. The basic advantage is that trust customers will having the knowledge that they are making payment to a company instead of an individual for a Business.

2. Easy Access To Loan Facilities

 This is the fallout of operating a Corporate Current Account. In most cases ( and according to Bank) when accounts under this category is operated for a minimum period of Three months, the business can assess a business loan. Though this loans have varying interest rates and Conditions.

3. Access to Incentives And Benefits From Government 

Registered Businesses have Since becoming corporate are given recognition under the Law in that they are pivotal to economic growth. In view of this, Government issues periodically grants, incentives to small businesses especially in the area of curbing unemployment provided they are compliant with the Law. Most registered business have from time to time partnered with most administration in fulfilling their business agenda for the country.

Being recognized as a registered business owner also gives one that status of a tax payer in the eyes of the law of which there is adequate protection accorded depending on the scenario. 

by VICTOR OSAKWE ESQ