Importance of company registration.

Most times, a lot of existing business owners ask why it is importance to register their business as a company.
In Nigeria, the government agency charged with registration of company is Corporate Affairs Commission (CAC).
There are different type of registration.
E.g Business name registration, Partnership, company limited by shares, Company limited by Guarantee, Incorporated Trustees (NGO, Churches, etc)

Today, we will highlight the importance of company registration.

1. Company registration gives your business a unique Identity: a registered company is a legal entity and it is a separate being. This gives your products/services an identity different from others. Your business is identifiable with it company name which distinguishes your products/services from that of other companies.

2.Company registration attract customers and clients to your business: A registered company attract customers and clients as it makes you look serious and more trusted by customers who are assured of dealing with you as a government registered company.

3. Opening and running of Bank accounts: Company registration gives you opportunity to open a business account for your company with banks. Customers and clients preferred making transaction with company business account than owners/directors personal bank account.

4. Ability to get credit facilities, investment and grants: Banks and other creditors give out loan in form of Personal and business loan. Business loan are only given to registered companies. Also, Government grants are given to known registered company. No investors will invest their money in an unregistered company.

5. Right to protect your Brand/Products: A company registered to carry out a business has a right to protect and distinguished it products/services using Trademark, Patent, Right to name.

6. Continuity of Business: since a company is a separate entity, when business owners died, a registered company continue to exist as it is passed from one generation to another.

7. Award of Contracts: If your business involves taking contract, your company must be a registered company. No Government or organizations would award contract to unregistered company.

8. Protect you from personal liability: in case something goes wrong, liability is limited to the company's assets

You want to register a company with ease and at a competitive Price?
Talk to us: support@alphakappaconsults.com
08033695128

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