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Before I Register My Business Name, What Do I Do/ How Do I get Ready to Register my Business Name? – Under listed are series of questions relevant to your preparedness to register your business now.

For a start in this post, can you honestly give answers to them.  Contact us for those you can not give answers to.

• Do you need to register a business name if you are in business already?
• How much does it cost to register a business name?
• How do you find out if a business name is still available?
• Do I have to have a business license for a sole proprietorship?
• Do I need to register my business as a sole proprietor?
• What is the difference between a sole proprietorship and a limited liability comapny?
• How do I make my business name legal?
• Can you have a business without registering it?
• How do you register a business name?

Before I Register My Business Name, What Do I Do/ How Do I get Ready to Register my Business Name?

Befor we continue, there are some reasoings to do. You need to ask yourself several questions, such as:

a) Am I the right person to run the business or do I need to hire an expert?
b) Will customers like my product?
c) What is the market like in terms of competition?
d) What is the nature of the industry I want to venture into?
e) What are my opportunities in this industry?
f) Are there environmental challenges that are posing as my  weaknesses and threats ?

These are good enough to set you on your toes starting your business.

You need to go further with these questions too.  They are those that assess your personalities, skill and abilities to run a business well.

The first thing is for your to define your personality:

• What do you know about yourself?
• What are your interests in starting a business?
• Is it to make money, or to serve clients and by that create value for them  and for yourself or some other reasons?
• Are you the type that like pleasure instead of hard work? A clear goal setting will do you so much good
• Do you possess any training, skill, talent or any industry experience in the business?
• Have you been mentored in the business?

The seond thing is to keep these Corporate/legal documentations ready:

Corporate legal documentations is the process of getting the necessary incorporation documents from the relevant regulatory body.

• Is the business incorporated  with CAC or when are you to do that?
• Have you registered the business name  with CAC or when are you to do that?
• What legal structure is your business? – Limited liability company, Sole Trader, Partnership, NGO etc. This will help in your asset, liability management. It also has tax implications.
• Think of a Franchise

Before I Register My Business Name, What Do I Do/ How Do I get Ready to Register my Business Name?

The next thing is to  have a business plan in place – you can contact for this.

Added to the business plan is, having a good Feasibility study done – this has to do with cost and environmental analysis. And address issues on:

• Environmental – business location Vs social, economic and political factors.
• Marketing strategy
• Market Share
• The Industry
• Competition
• Value chain analysis –  both Demand side and supply side
• Technology
• Legal
• Manufacturing unit cost of production
• Turnover – break-even analysis

The next thing to do is to  be sure of your source of financing

Generally, sources of funding include:

• Personal Savings
• Assistance from friends and family members
• Debt funding ( Loan)
• Equity funding ( by investors who must have part equity ownership of the business)
• Credit facilities ( this is not always available in the beginning, it is always a strategy for working capital management)

Business Proposal Training Templates

In Summary, I would want you to go through this Business Start-up Check list. Check and remind yourself what you have done, and set a timeline for those not yet done.

• Business Name Availability Check
• Business Registration
• Opening of Corporate Bank Accounts
• Securing Point of Sales (POS) Machines:
Opening Mobile Money Accounts.
• Opening Online Payment Platforms
• Application and Obtaining Tax Payer’s ID.
• Application for business license and permit.
• Purchase of Insurance for the Business: Business Insurances policies are necessary
• Leasing of land and building and other equipment.
• Conducting Feasibility Studies.
• Generating capital from family members.
• Applications for Loan from the bank.
• Writing of Business Plan.
• Drafting of Employee’s Handbook.
• Drafting of Contract Documents and other relevant Legal Documents.
• Design of The Company’s Logo
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials
• Recruitment of employees .
• Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office
appliances etc.
• Creating Official Website for the Company.
• Creating Awareness for the business both online and around the community.
• Health and Safety and Fire Safety Arrangement (License).
• Opening party / launching party planning.
• Compilation of your list of products that will be available in your store: Design your store, to accommodate your various products.
• Establishing business relationship with vendors – key players in the industry.
Get more information on this clicking the links below:

Before I Register My Business Name, What Do I Do/ How Do I get Ready to Register my Business Name?

Who Are We?

We are Chartered Accountants.  CAC accredited agents. Auditors and tax Experts. We will do a lot for you. As a matter of  fact, Our Services  range from Accounting & Auditing, Taxation – annual tax filings and obtaining your tax clearance certificates, Corporate services – CAC documentations/company and business name registrations, Management services – writing business plans, business proposals, business coaching, Capacity building training, seminars, workshops etc. obtaining mining licence to other licences for clients.

Contact us if you have need of us., via,
e-mail: [email protected]
Phone: +234 8034347851, +234 8097900795
Website: www.completefmc.com

Requirements for Your Business Name Registration

Before I register My Business Name – What?

Before I Register My Business Name, What Do I Do/ How Do I get Ready to Register my Business Name?

Ane

Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.