In a Country like Nigeria and a world like ours where people are constantly on the lookout for things to claim, even if they know nothing about how it was started. People start a business and get too carried away with the little progress that they forget that they have to have it registered and secured.
Your Business is a part of you, the moment you start a business and take it up with time and effort; everything that goes wrong affects you even emotionally. Here are reasons why you need to get your business registered;
You Do Not Have Any Official Rights Over The Name:
In simple terms, someone that has been admiring your work for some time and suddenly thinks he can do same; or even better, can walk into CAC (Corporate Affairs Commission) and tender your business name for registration and make everything his! Because he registered already, he assumes every right to file a case against you and advise that you drop the name.
You Lose Your Original Business Name:
You might still have your business, reputation, clientele and what not, but you would have to change the name you have been known for because now you realize you have to get your business registered. You don’t have to go ahead already and register your business if you are not exactly up for it yet, but what you can do is register your business name to be secured from whoever is out there working out a plan to dive into the game you started.
Don’t take your idea lightly, ideas are bombs that explode as fast as you set them up; don’t let all that thinking be on someone else’s name. Do get your business registered if you haven’t done so.