Having your business registered with the Corporate Affairs Commission is a very important action to take as a business owner in Nigeria because of the following reasons:

· Operational license: For a business to successfully apply for a business license, it’s important that such business have a certificate of incorporation.

· Business Expansion: Grants and loans from investors or lenders can only be offered to businesses that are registered with the Corporate Affairs Commission.

· Personal Liability Protection: When you have business registered with the CAC, as the business owner, you have a separate legal identity from the business. This means that in a case where liability arises from the business, the owner will not be held personally liable or responsible.

Having known the reason why it’s important that your business be registered with Corporate Affairs Commission (CAC), let’s get to seeing what is CAC and its role in case you don’t have a previous knowledge about it.

The Corporate Affairs Commission (CAC) is an independent governmental agency that is saddled with the responsibility of regulating the formation and management of companies, businesses, churches, mosques and non-governmental organizations (profit and non-profit).

Now let’s dive into the major purpose of this guide: How to do Corporate Affairs Commission (CAC) Registration for your business

Step 1: Get a business name

A business name is the unique identity that differentiates your business from other businesses. In other words, it’s your no. 1 brand identity. You can come up with at least three business name (you would eventually go for one) for your business depending on the nature of your business, your vision and mission. This is the very first step to be taken for you to commence your business CAC registration.

Step 2: Check for your business name availability on CAC

The Corporate Affairs Commission does not permit two or more businesses to share the same business name. For example, if a business has been registered with CAC as ABC Limited, you can’t also have your business registered with the name ABC Limited. You can only have it registered with a few elements of uniqueness such as ABC Integrated Services Limited, ABC Bakers Limited, etc.

So, to finally conclude on a business name that you would use for your brand registration with CAC, you would need to search up the intended business name on CAC business name directory.

Continue reading here: https://thenigerianbizguider.medium.com/how-to-register-your-business-in-nigeria-with-the-corporate-affairs-commission-cac-fd48abccfbee