Hey Flexxer!
Do you have a business idea that you’d like to roll out soon? Or are you already a Flexxpreneur who wants to take his/her business to the next level? It’s time to register your business name. Registering the name of your business is very important, as it helps prospects find, identify and connect with your business. The Corporate Affairs Commission (CAC) is the organization
responsible for registering business in Nigeria.
Here are easy steps to follow in registering your business name:
Step 1
Check if your preferred business name is available
Ideally, your business should already have a name. However, you should check if the name is available or not in Nigeria. You can check on the Corporate Affairs Commission website here.
The portal allows you search and reserve a business name. You can also obtain the form at any of the CAC offices across Nigeria.
Step 2
Apply for business name
After verifying that your business name is available, you’ll be required to fill an application form.
On the form, you will indicate the nature of your business, contact address, partners (if applicable) and other important details. The form is submitted with two passport photographs of each partner, including you.
Step 3
File your business name
After completing the application form, you’ll need to pay the sum of N10,000 for registration at the Corporate Affairs Commission. You will also pay N500 to reserve a business name and N200 to obtain the registration form. After completing these processes, you will wait to be notified of your business name registration success.
Here are some other things to note while registering your business name.
● Registering a business name usually takes about 2-3 weeks if there aren’t any complications with your registration.
● Avoid using generic names because they may have been taken already.
● You are restricted from using names such as Federal, National, Holding, Municipal, Co-operative, Chartered, Government, Regional, State, Group, or Building Society.
● If your business name has already been taken or not approved, you will be asked to purchase another reservation form and re-submit 2 new names.
Are you aware that if your business has at least 3 employees, you are required to sign up to a pension scheme? Visit www.legacypension.com to get started.
A pension account is important for safeguarding your future and those of your staff.
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