REASONS YOU SHOULD REGISTER YOUR BUSINESS OR NGO WITH CAC

CAC is the acronym for The Corporate Affairs Commission. It is a Federal Government of Nigeria agency saddled with the responsibility of getting unregistered businesses and non-business entities like not-for-profit organisation like church, Foundations, Mosque, Community associations, Social clubs, etc registered.

Registering your business or non-business entity registered with the Corporate Affairs Commission is a way of keeping to the dictates of the Companies and Allied Matters ACT (CAMA) 2020. The acts mandates the registration of businesses within 28 days of commencement of pay a fine of 150 naira per day of default.

Aside keeping to the dictates of the CAMA 2020, lots of benefits abounds for registering yours business or NGO with the Corporate Affairs Commission. The benefits include;

  • It legalises the existence of your business or NGO. An unregistered business or NGO cannot lay claim to its existence without the presence of CAC registration documents with definite information of date of registration and details of the subscribers
  • Registering your business or NGO makes you the authentic owner or subscriber to the Corporate entity.
  • It creates the opportunity to be able to access loans and other credit facilities
  • It will enable you to be able to separate your business income from your personal income by opening a corporate bank account in the name of the registered entity
  • It creates trust and increase customer patronages as potential customers are more likely to patronise a registered business that an unregistered business.
  • It makes your business unique. The registered name becomes unique to your business. No one can register the name. Promoting the name is with less risk compared to an unregistered name.
  • No risk of litigation for corporate impersonation. No company can sue you for using a registered name. Using an unregistered name which might have been registered by someone can lead to litigation by the rightful owner of the name

The benefits cannot be overemphaized, if you value your business you should not think twice about getting it registered. Let’s get your business, NGO, Church, Association, Mosque, Social Club, etc registered today.

Contact us via WhatsApp 09062158558 or call 08054437948 and let’s get it started

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