Registration of companies in Nigeria basically entails your ability to fathom the best name and the best style of running your business and documenting those information in a document and paying amounts of naira to the government for stamping and acceptance.
Graphically, 60% of Nigerian businesses are not registered and still yet they are running their businesses as fine as possible, but do you know there are some certain advantages you are missing, if you have not register your companies? There are certain reasons and certain importance of you registering your company.
Registering your company entails some important features which are; the standard existence of your company, an un-identical name of your company except dual ownership and presentations of relevant forms for acceptance.
6 Reasons to Register Your Companies in Nigeria
1. To Pave Way For Government Expansion
Government wants and loves to partner with private companies that had been registered. Take for instance, Bulletin construction companies in Kwara state had being helping the kwara state government to construct roads, bridges and buildings, just because the company had registered its existence with the government and the government needs to create interest in them and now the company is making the right cash.
If you don’t register your companies, you are saying paradoxically that you don’t want to improve and be widening all over the country. Recapitulating, the reason you need to register your companies in Nigeria is to allow Nigeria Government to invest in you and partner with you, resulting into the success of your business.
2. To Grant You Access To Loans
You need to register your companies in Nigeria so as to open the chance of getting loans from banks in Nigeria. Take for instant Globacom Nigeria Limited- a leading telecommunication company in Nigeria needs a loan of about 800 million naira to executive their new strategy and you an unknown name also want the same amount of loan.
The bank in place to grant the loan will consider the leading and registered name before looking at you and probably, they might not lend you the money. So another reason you need to register your companies is to grant you access to receiving loan.
3. To Become Your Own Boss
Another important reason in which you need to register your companies is that it will give you chances of becoming your own boss. You constituting a new company don’t make you a boss, until you register that company.
For instance, a nameless company will forever be address as a serving firm until it registers and begin to possess the great and notable name, and that’s what will make you a brand. Stand up now to become your own boss, boast of your company by registering your name in Nigeria and that will set a pace for recognition and expansion.
4. To Draw In Investors
Investors are waiting all around the globe to elevate and expand sprouting companies, if you are want to get the needed profit in the world of establishing a company then you must be ready to register your company so as to draw in investors.
Be realistic, be open-minded, be genuine, be competent, be courageous and to top it up register your company for there are the things internal and foreign investors look forward to.
5. To Change You From Job Seekers To Employer Of Labour
When I read that firms without name have no aim rather than to quench their hungry belly to get token to serve their dinner, in short they are bellificators (word for classifying people who don’t want reputation but only money).
Now as a business owner you are still a bellificator and a job seeker until you register your company. It is until you register your company’s name, then you are still a servant.
Let me open your eyes to this, most times people will still think you are managing a firm because you want to get a token until the time you get a reliable job outside there, but until you register that firm, then people will say you mean business and you are thereby building your reputation.
For instance, you own a small room for teaching children and you call it a school, it is when you register it that you are entitle to employ people and become their boss when you’ve register.
Don’t forget that, if you register your company, it is then that you can be call the real entrepreneur, you will set a pace for employment in the country, relieving the country of the devastating rate of unemployment.
6. To Crave Opportunities For Bonuses
When you register your companies, then there is 99.9% assurance that you will be entitle to some smiling bonuses from the government to do with, these entitles includes easy tax clearance, provisions of social amenities and to top it all, your name is among the names of companies that is contributing to the growth of the company.
Apart from the six above there are other reasons like; building your company’s reputation, easy bank accounting, you will look more professional, you are setting a pace of becoming rich since people will continue to patronize you.
So you can see the interesting and exciting privileges for you to register your company.