HOW TO REGISTER YOUR BUSINESS NAME WITHOUT DELAY.

INTRODUCTION.

There’s no doubt that many Small and Medium Scale Enterprises (SMEs) have had and still have several challenges which debar them successfully from registering their businesses. For many, registering a business name still seems like crossing the Red Sea. But really, it is due to inadequate information as regards to small business name registration.

However, Mr. Appah Amaebi, The Head Consultant, Hostcruise.com an offline and online information marketing outfit, in Lagos and he shares his business name registration experience with us and gives a guide to overcoming pitfalls in registering your own business name.

 

HEAR HIM!

Registering your business name with the Corporate Affairs Commission (CAC) can be an uphill task if you are not properly armed with the right information. The CAC Staff themselves are not helping matters at all. They can be an unnecessary pain in the neck. However, by following these strategies, you can register your business name yourself without the aid of any Lawyer.

These steps will save you money; show you how to avoid delays. Frustration and the need to bribe anybody just to register your business name. In fact, with these strategies, you can register your own business name with less than N10, 000. And this is guaranteed. To do this successfully, follow these steps;

 

BE CREATIVE WITH YOUR BUSINESS NAME.

Many SMEs usually face tough time getting approval for their business names. This is because they find out that their choice name had already been taken up or has been used by someone else. The implication of name rejection is starting the whole process all over again. My advice is, think up a good and unique business name that is not common. By so doing, you ensure that your business name is available and “Sealed” for you. If you fulfill these criteria. You will have avoided two things.

1.     You would have saved yourself the headache of going through the whole registration process all over again after three weeks of waiting.

2.     Purchasing of another business name availability forms will be avoided, thereby saving you funds that could have been used for other more important things. Examples of common business names to avoid includes; God’s Grace Store, Divine Ventures etc. Avoid Generic Names like John, Grace, Ade, Peter, Paul etc. in your business name options unless you have a new and creative way of presenting these names.

 

KNOW EXACTLY WHAT TYPE OF BUSINESS NAME MODEL YOU WANT TO REGISTER WITH CAC.

You must know exactly the business name model that you intend to register with CAC. If not, you may be back to square one.

 

THE AVAILABILITY FORM YOU WILL PURCHASE AT THE CORPORATE AFFAIR COMMISSION FROM N200 AND ABOVE CONTAINS THE FOLLOWING;

1.     Private Limited Company.

2.     Public limited company (PLC).

3.     Unlimited Company (ULTD).

4.     Change of Name.

5.     Company Limited by Guarantee (LTD/GTE).

6.     Business Name.

7.     Incorporate Trustees.

Take note that, what you want is business name, so you will have to indicate by ticking the column box by the side of the business name. The rest of the names that are stated above require a lawyer to help you process their registration.

 

AVOID BUSINESS NAMES THAT NEED CERTIFICATE BACKING.

Business names that you do not have the necessary certificate to back it up, should be avoided. For example, that includes words like consulting, Konsult, Technician, Guru, Finance, Coaching etc. if you must stick to such a name, then, get a partner who has all the necessary certificate to register such business names.

Take note that, all certificates must not be short courses (those that lasted for just one or two weeks). They could be certificates from government recognized institutions provided; the programme is more than one year.

 

HAVE A BACK-UP BUSINESS NAME.

Always ensure that you have a backup business name (An Alternative Business Name). This is because the CAC availability forms you will submit with two (2) business names have (options A and B). I will advise you to have other business names as back-up, just in case, the one you want has been taken up by others.

 

NEVER USE ANY CORRECTING FLUID ON THE AVAILABILITY FORM AND FILE.

Correct all your mistakes simply by simply striking it with a line neatly.

Do this to ensure that you don’t get your form rejected, following this instruction implies that you save time and money.

 

ENSURE TO PROCESS YOUR BUSINESS NAMES BEFORE IT EXPIRES.

Endeavour that you do a follow-up on your business name registration. Check after three weeks to reduce the risk of the business name being taken up by someone who submitted his/her form after you did but was following it up more closely.

FOR MORE INFO., CONSULTATION AND COMPREHENSIVE EBOOK CALL 07062374143.

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