Are you a business owner wondering why you should register your business with the Corporate Affairs Commission - CAC in Nigeria?
Registering a business with the Nigerian Corporate Affairs Commission (CAC) has several benefits for entrepreneurs and business owners. The CAC is the government body responsible for regulating and supervising the formation, incorporation, and management of companies in Nigeria. Here are some of the benefits of registering your business with the CAC:
Benefits:
Legitimacy:
Registering with the CAC gives your business legitimacy and makes it a legal entity in Nigeria. This means that your business can enter into contracts, own property, and sue or be sued in its own name.
Brand protection:
One of the biggest assets available to small business is their brand/name. Registering your business with the CAC gives the you the exclusive rights to use the business name and protects it from being used by others.
Access to funding:
Registered businesses have greater access to funding from banks, investors, and government agencies because they are perceived as more credible and trustworthy.
Limited liability:
Registering your business as a limited liability company (LLC) offers protection to your personal assets in case the business is sued or goes bankrupt.
Business expansion:
You can expand your operations to other parts of Nigeria and even internationally when you register with CAC. This will make it easier for you to access new markets and customers.
Tax benefits:
Registering your business makes you eligible for tax incentives and exemptions, which can help reduce your tax burden and increase your profitability.
Increased credibility:
Having a registered business with the CAC provides credibility to your potential customers, partners, and investors, which can help attract more business and partnerships.
In conclusion,
Registering your business with the Nigerian Corporate Affairs Commission is a crucial step for you and indeed all entrepreneurs and business owners who want to establish and grow their business in Nigeria. It offers many benefits, including legal legitimacy, brand protection, access to funding, tax benefits, limited liability, increased credibility, and business expansion opportunities.
At Tersur, we understand the importance of having your business registered.
That is why our subsidiary TERMA ICT COMPANY and a group of partners have set up a team to help you complete your business registration remotely and within the shortest possible time.
To learn more about who we are and what we are looking to accomplish at Tersur, hoop over to our mission statement and see if you too can be a part of the mission.
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