The legislation governing the tinting of glasses of motor vehicles in Nigeria is the Motor Vehicle (Prohibition of Tinted Glasses) Act, 1991. This Act was promulgated first as a military Decree but upon the return of democratic government in Nigeria in 1999, the National Assembly rectified it as an Act of the National Assembly and it became part of the Laws of the Federal Republic of Nigeria....
The Nigerian Data Protection Act is a significant legislation for businesses operating in Nigeria. The act applies to processing of personal data whether automated or not and it also applies to data controllers whether domiciled in Nigeria or outside Nigeria but process data of Nigerian citizens....
This article is not to approve the act of Mmesomma Ejikeme or any would be violator of the Examination Malpractice Act neither is it encouraging examination malpractice in anyway, rather enjoin students and civil servants alike to desist from all acts of examination malpractice so as to ensure a meritorious educational result system....
Unplanned pregnancy refers to a situation where a woman becomes pregnant when her spouse or herself do not desire a child at that point in time. This situation becomes worse where the pregnant woman is unmarried and the impregnator refuses to bear responsibility for the pregnancy....
From time immemorial, the Courts have always been called upon for the settlement of disputes and reconciliation of parties. Whether this core function of the Courts is still potent as of old, is a question to be objectively answered by weighing our judicial performance in recent times and ascertain if dispensation of justice is still the cardinal principle of the judiciary in Nigeria....
Many skit makers and content creators have misconceptions when it comes to the subject of "what is copyrightable." They believe that a work must be registered first before claiming ownership, which is not the case. Copyright is sticky, and in essence, one has copyright over a work the moment it is created. Furthermore, creativity is relative so you don’t have to crack your brain too much. You also do not need to create something entirely new (copyright is not patent), and the length of a video does not matter in copyright....
It has been argued that vigilantism is a legitimate right of a community which is born out of the collective right to self defence which is constitutionally recognised. The above is true and while the Local Government System of government is allowed by law to make Bye-laws for the security and welfare of the local communities within the Local Government Area, each community has legitimate right to set up security committee for the purpose of establishing its own community vigilante group which shall be directly under the supervision of the Nigeria Police Force. Some communities have gone as far as inserting in its Constitution, the establishment of vigilante groups. But for any vigilante group to bear any caliber of unsophisticated firearms, such a group must get firearm licences from the Commissioner of Police of the State. ...
Artificial intelligence (AI) is a tool that can perform tasks that ordinarily require human effort. It includes software, machines, and other technologies. One example is CHATGPT, an AI-powered chatbot that provides information in a conversational manner. CHATGPT can provide almost any information and alters the state of the art as we know it....
In simple terms, a trade secret is any information that allows you to make money because it is not generally known. A trade secret is any information, including a formula, pattern, compilation, program, device, method, technique or process, that derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means, other persons who can obtain economic value from its disclosure or use. In other words, a trade secret is valuable because it is kept secret....
Business owners, entrepreneurs, companies and startups should note that compliance with the laws will not only aid in protecting the personal data of persons when doing business but will also help in improving and maintaining the brand value of an organization.
Compliance will give an organization a competitive advantage over its contemporaries and it will also prevent loss of revenue for businesses....
Private individuals, groups as well as the three levels of government are free to establish business enterprises. The government through various laws and agencies ensures the supervision and regulation of businesses in Nigeria. It is to ensure the ease of doing business for investors, entrepreneurs, business-oriented persons as well as safeguarding the interests of the customers of these businesses....
In every jurisdiction, there are certain laws governing establishment and running of business. These laws are very important when it comes to the formation of businesses and their dealings with government agencies, customers, employees and other businesses. Every business owner or entrepreneur should have a basic knowledge of these laws. Before an entrepreneur or business owner starts talking about business ideas, formation of business or making sales there are certain laws that guide businesses, business owners and consumers....
Prices are rising, supply chains are still shaky, and customers are watching their pennies closely as their lifestyles get more costly. So, how can startups and small business owners prepare to weather this inflation times?
Economically speaking, Inflation is the general increase in the price of goods and services and the fall in the purchasing value of money.
Inflation can be caused by an increase in the demand of goods and services with a decrease in supply or lack of increase in supply. As a result of this, there’s a drastic hike in the price of products and services because of the limited availability and the increased need for these services and products by more people.
As a startup/ small business owner what are the measures you can put in place to thrive despite this harsh economic situation...
Generally speaking, a landlord has an unfettered right to sell property notwithstanding that there is an existing tenancy relationship. A tenant whose rent has expired is ordinarily considered to be a trespasser or otherwise a tenant at the Will of the landlord. Such a person cannot lay claims to any form of right against the sale of a property....
Trademark is ordinarily territory bound. That is, your trademark is protected in the Country where it is registered for protection. This is one of the reasons for “community protection”....
Every litigant has the right to enjoy the outcome of their case, which is a judgment. However, given human nature, it is not unusual to see people who have been judged refuse to comply with the ruling. As a result, judgment enforcement regulations have been put in place to ensure that the judgment is carried out....
A positive leadership style is largely dependent on the industry the company operates and the culture of the people. Before choosing any leadership style, one must understudy the way and many of the staff minds operate. This is based on the fact that the background of the staff may not be suitable for a certain leadership style....
By the general human behavior, Court orders would generally not be complied with if enforcement procedures are not laid down, this explains the purpose of judgment enforcement procedures. Every successful litigant wishes to reap the benefits of his success, namely, judgment, and the law makes this possible....
For a company to be effective, these positions have to be filled and be effective to get the desired results. Assessment and reassessment should be done quarterly to ensure no one is lagging behind. These highlights are not exhaustive in themselves. However, all other departments fall under these positions depending on the workforce and size of the company. Where the company expands, some of these positions can be separated or merged to meet immediate needs....
It is mandatory that these filings be done as the laws that mandate it also provide for penalties and fines in cases of default, which may in turn affect the revenue of defaulting companies, thereby hampering the cash flow of the company. This goes on to disrupt the business activities of the company, taints the brand identity of the defaulting company, leads to the revocation or withdrawal of the license, permits or grants issued by the relevant authorities. ...
It is important to know the value of your property before giving it out. This will help you to be more diligent in selecting your manager in order to avoid losses. It is also important to know the extent to which you want to exercise control even when the property has been given out to a manager. All of these will influence your choice....
As a start up, one of the crucial decisions you will make in your business is the decision on who to engage, when and how to engage and disengage. Many start-ups are struggling with business because they have not been able to manage recruitment of staff and retention of staff in their business. Hiring your first employees is an exciting, significant milestone for any startup founder. As a business owner, what should guide your decision on staff engagement in your business? These are issues we will discuss in this series of what next after business registration?...
The Supreme Court is the apex court in Nigeria. It is the highest court in hierarchy and the last court of resort for appeals in disputes between parties. What this means is that in the hierarchy of courts in Nigeria, the Supreme Court is the highest court in the country....
After business registration, there are registers which the company is mandated to keep for members to get information easily and for the public to know about the company upon inspection; hence, these books are to be kept at the registered office of the company.
These books are necessary as they contain accurate, updated and important information about the ownership, administration and corporate governance of the company. ...
It is important to recruit a property manager to manage one’s property, however, it is more important to get the right persons or companies to manage your property.
Moreso, as a property owner, timely inspections should be carried out on all your property to assess the situation with them to have first hand information. This brings you with realities on ground rather than relying on hearsay....
Commencing business operations without acquiring the necessary permits readily puts a business at risk of fines, lawsuits, business closure, arrests, loss of reputation and others. While it is good practice to obtain the necessary permit that pertains to your business, it is also important to note that the requirements vary from state to state....
Debts are supposed to be paid back on the due date, however this rarely happens. This could be due to a variety of factors, including the debtor's lack of cash at the time, the debtor's bankruptcy, or the debtor's outright refusal to pay the bills....
The policy on workplace safety has its root from the various laws that provide for the duties of employers and employees in businesses across Nigeria. This policy is hinged on the duty imposed on employers to ensure that employees are not exposed to risk of injury at work. This policy is particularly applicable to factories considering the nature of their work premises. As a matter of fact, cases that have been brought to court involving a breach of this policy largely revolve around victims that work at factories. Nonetheless, all employers, regardless of the size and nature of the business, have a duty of care to their employees by ensuring reasonable steps are taken to promote their health, safety and wellbeing, as well as providing hazard information, proper safety equipment, training and competent supervision....
As a money lender or someone who has advanced credit to another, it is therefore advised that you explore only lawful options in recovering your money from a defaulting debtor. In this article, you will learn lawful ways to recover loans and also discover unlawful options that people sometimes deploy as a tool to recover money due to them. ...
Did you know that Your workplace can enormously impact how you feel about your work? Along these lines, it's vital to track down a business that cultivates a positive environment and empowers you reliably. Whenever you have a positive workplace, it can work on your joy, increment, your efficiency and rouse everyone around you.
However, we will be examining practical ways to maintain a good and productive work environment....
It is a fact that where there is a wrong, there is a remedy. However, the person who has been accused of being in breach of contract also has the right to defend himself. There are different defences available to him. We shall consider them very quickly....
Privacy policy being one of those policies, basically ensures that the personal information of clients are protected and not unduly exploited for personal gain or any reason whatsoever. This policy empowers customers with the right to have their data undisclosed; in other words, they are able to decide whether or not they want to share some information, who has access to it, for how long, for what reason, and to be able to modify some of this information where needed....
Objections are the concerns that a prospect has which cause them to hesitate (at best) or abandon (at worst) a purchase. People want to be sure they are purchasing a good product, hence the need to ascertain correctly by raising objections....
The law is that where there is a wrong there is a remedy. Thus, you must understand that you have a right to remedy. Though there are numerous remedies available, you must be able to ascertain that which is applicable to your case to be successful in court....
A business owner has the right to make decisions in the best interest of the business. Some of these decisions may demand a restructuring of the business or change in the status of the business thereby bringing a change to the business which may not reflect the status or identity of the business at the time of incorporation. ...
While there are different agencies established to regulate businesses in Nigeria with each applying to a specific sector, some regulators on the other hand apply to all businesses registered in Nigeria irrespective of the business carried on or the sector or industry of the business. In this week’s series, we will share with you some list of industries(businesses) and their regulators and also a brief overview of these agencies and sectors/businesses they regulate....
The Courts provide consistency and fairness. Courts decide what really happened and what should be done about it. They decide whether a person committed a crime and what the punishment should be. They also provide a peaceful way to decide private disputes that people can't resolve themselves....
Businesses in embryo tend to focus on amassing more customers rather than establishing a solid relationship with the existing few.
Every team member in a business is expected to have Customer Relationship at the back of their minds despite having a Customer Service unit which ensures the overall satisfaction of the customers. Investing in Customer Relationships can be quite costly and easily overlooked, nonetheless, businesses that decide to undertake this venture hardly ever recover from the goodness it brings....
The Real Estate Transaction Law of Lagos state is geared towards regulating the activities of realtors in the state with a view to ensure that hard earned money is not swindled by some fraudulent individuals or organizations. Realtors (individuals and organizations) are expected to obtain Permit to operate within the state. Failure to obtain such license is a punishable offence. Upon obtaining such a license, ensure you are compliant at all times....
It is compulsory that (Special Control Unit against Money Laundering) SCUML registration be carried out by businesses that fall within DNFIs in order to successfully carry out business in Nigeria....
Being within the premises of a law enforcement agency may make you get panicky and whatever you say may be used against you in the court of law, do exercise your right to remain silent and the right to speak with a lawyer before you involve yourself in any conversation (written or oral). Simply let the officer know that you wish to see your lawyer first before saying or writing anything....
There is bound to be conflict where family property exists. However, the approach to these issues will determine whether it can be settled amicably or be allowed to escalate. In the light of this, we recommend that family property should be dealt with the consent of everyone entitled to a share in the property....
Marriage is regarded as a very sacred institution both in our society and in our sociology. Accordingly, an agreement to enter into a marriage should leave nobody in doubt as to the real intention of the parties to enter into a marriage. Also, for a person who has been a victim of a broken engagement, he/she must be ready to prove the elements listed above in order to be compensated....
It is good practice for business owners to register their Trademarks since it is ordinarily in their best interest. Failure to do this would usually handicap business owners when the need to challenge an infringement arises....
One other very important obligation of your business is annual filing of returns to the commission. Failure to file within time attracts a penalty and can raise a query to approval of any filing made to the commission....
Customary law refers to those sets of laws or rules which guide the affairs of a people ranging from the lifestyles, traditional beliefs and practices. This practice also extends to inheritance. At the passing of a parent, who gets what and when....
While you are enthusiastic about starting a business, it is advised that you take proper measures in complying with laid down regulations so you don’t run afoul of them, incur penalties and get sanctioned for non-compliance. Don’t therefore think that once your business is registered with the Corporate Affairs Commission you are finally done with all that needs to be done. It is in fact the beginning of your business journey from ideation to greatness....
Business goes on around us and the major goal of every business is making profit. There are different strategies a business owner can employ in order to make more profit and one of them is leveraging the power of the internet. There are proven ways to achieve this and one faster way is creating a digital product and selling it. Digital products include eBooks, courses, pdfs, video tutorial, online classes ete. For the discourse, our focus will be on creating an eBook....
Some times, debt arise from Mortgage transaction where the Mortgagor fails to repay the loan advanced to him. The question that comes to one's mind therefore is what should be done to salvage the situation. There are lots of options open to the Mortgagee. Some of these are considered in this article....
Loans also constitute a major source of financial relief to businesses looking to start out or to expand. However, it is advised that businesses take time to study the terms and conditions accompanying the loan, so as to aid them in choosing loan offers that best suit their financial needs and capabilities....
Mortgage is a veritable source of project financing particularly for property investors. For persons with property that are interested in making further investment but short of funds, leveraging on mortgaging will be the best belt. This is done by taking out loans using the existing property as security for the sum to be borrowed. That way, new properties are acquired....
Have you considered funding your business by exploring partnership as discussed in our previous Series whereby you pool funds together with other partners in a partnership? Do you still need more and sustainable funds to set up your business? Then another way you can finance your startup is to explore funds from investors. In this article, you will learn about what you should consider when seeking to get funds from your business through investors funds....
This article summarises the position of the law relating to computer generated evidence and what you need to do to ensure that you can share information as evidence in the court of law....
Are you an entrepreneur with many innovative ideas? Do you have an unbridled passion to birth your ideas into yet another business venture? Are you an optimistic risk taker who is constantly in pursuit of success? Do you successfully birth one idea into a functioning business before jumping on executing another idea or you never quite get to establishing a working enterprise?
Maybe you’d like to be a serial entrepreneur and you look up to the likes of Elon Musk, Russell Simmons, Mark Cuban, Jayz and 50 cent who have somehow mastered the art of risk taking and strategic innovation, embarking on projects that once were thought to be unwise but that ultimately turned out to be successful...
Being a Tenant in a property comes with rights and duties. When the duties are performed but the landlord denies the Tenant the rights due to the Tenant, there is bound to be a battle in such a property. One of the rights a Tenant should enjoy is the right to peaceable possession of the property he/she occupies. This simply means that a Tenant haven paid his rent and other utility bills on the property, he should be allowed to enjoy the property without any disturbances either from the Landlord or his agents, assigns or legal representative. Despite the Tenant observing all the covenants of his agreement with his Landlord, we sometimes find that some Landlords find a way to prevent the Tenant from enjoying the property either directly or indirectly. This leaves the tenant frustrated. To avoid such occurrences, we will be looking at some tips to manage a troublesome Landlord....
Regardless of how great your business idea is, your ability to drive that idea forward rests on your ability to generate sufficient funding to start and grow your business. Partnership qualifies as one of the viable options of raising funds that you can buy into. Whilst it is true that raising startup funding is never easy, with the partner(s) that tick(s) the right boxes, the burden is shared and the journey to being established as a successful company becomes quite easy over time. ...
Renegotiating interest on your Loan is an option that you can explore both when the loan is yet to be due for repayment or even when the loan seemingly looks like a bad debt. You may renegotiate for a lower interest rate or a waiver of paying interest whichever your creditor agrees to. However, chances of acceptance of your request to renegotiate loan often time is subject to your conduct and history with your lender....
Tenancy is one of the major ways of taking possession of a property for those who cannot at a point in time own such property. On the other hand, it is a viable business venture for property owners....
As a business owner, the burden of identifying your business’ financial needs lies on you. This is why it is important to analyse your business to know its financial needs as every business has its own unique needs and no one size fits all financial solutions. Knowing your business’ financial needs will guide you in making informed financial decisions....
Getting paid on time is essential for managing cash flow and establishing a profitable business. Structure your payment terms to encourage prompt payment. Make your payment terms clear and state when you expect to be paid....
When you find yourself in the above situation, it is your duty to state as much details as possible about where you were when the crime happened, and you need to do this at the earliest opportunity....
Are you excitedly thinking about owning and running your own business? While it sounds very tempting, being an entrepreneur also means taking on huge responsibilities and facing a lot of challenges! Favorable circumstances, in combination with certain personal characteristics and skills are necessary elements for you to become a successful entrepreneur. You will also need specific knowledge and on field experience to be successful in the business that you choose.
You can consider these 5 points to deal with if you want to move from the phase of an idea and become a profitable business...
One of the many things that bother people about investing in land is the security of that land and its peaceful enjoyment. Because of the bad experiences some persons have had personally or those around them, they find it difficult to invest and benefit from one of the most lucrative businesses in our time. This of course has led to loss of great opportunities to earn that long awaited financial freedom from dependence on relations and friends for financial support which come at a cost: insults and what have you....
A brand is defined as the customer's overall perception of a business. A brand is a business reputation. It is also what people can say about your business in your absence. Branding is the most valuable and sensitive asset of any business....
Disputes, contentions, disagreements, controversies are generally an inevitable part of human interactions. From employer and employee, husband and wife business partners, parents and children relationships, etc. Disputes are bound to arise and in some cases, parties are unable to find a common ground. One of the way by which people resolve differences is through lawsuits but history has shown that it is not necessarily the best way to resolve disputes. It is in that light that this article discusses how to manage disputes, mend relationships and avoid the cost and stress of litigation....
Every company, large or small has a duty to make and deliver to the CAC its annual returns at least once in every year. A knowledge of your company classification will further guide you in knowing how to go about your annual returns....
In the world today, Debt has become a common phenomenon. There are many reasons why people borrow money; some are valid reasons, while others are questionable. There are also many reasons why persons or finance organizations lend money or give out money....
The girl child is faced with numerous challenges ranging from lack of basic social amenities which are ordinarily available to her counterpart. It should be noted that the challenges that today's woman face grew with her as a child. She is discriminated against on the basis of her sex and deemed in many quarters as one who is inferior and incapable of doing something good for herself without the support of her male counterpart....
The eNaira is a digital form of the Naira, which can be collected, held, and transferred through electronic wallets managed directly by the Central Bank of Nigeria. E-Naira is not a cryptocurrency, it is a Central Bank Digital Currency (CBDC). It is a digital representation of the Naira in electronic form. Like the Naira, the ENaira is also a legal tender. ENaira will be at par with the physical Naira, maintaining the same exchange value as the Naira; this means that one ENaira is of the same value with one traditional Naira....
A will is a binding testamentary document that allows a testator to appoint executors to administer his estate and dispose of it to the beneficiaries chosen by the testator. In simple parlance, a will is a legal document that allows the maker to distribute assets, both real and personal as may be desired, to beneficiaries of the person’s own choice after death....
Different States of the Federation have one law or the other to regulate the acquisition of land by foreigners. These laws are similar and aim to regulate the purchase and ownership of land by aliens. For the purposes of this article, we would focus on the Acquisition of Lands by Aliens Law of Lagos State as a template....
The idea of e-naira has been equated to cryptocurrencies. While both are digital currencies, they are not the same. While the e-naira is a substitute for physical currencies and is regulated, cryptocurrencies are no substitution for physical currencies, they exist through blockchain networks and are notoriously known to be unregulated....
Tenancy is the relationship that is created between a property owner and a Tenant. It is an understanding between the property Owner and the tenants which allows the Tenant to remain in that property for a defined term, enjoying all the privileges that comes with being in legal possession of a property. Tenancy is usually created over a property for a period not exceeding 3 (Three) years. Where the term granted exceeds 3 years, it is called a lease. To legally occupy a property as a Tenancy, the Tenant must have legally acquired the right of possession by paying rent for the period defined in the agreement with the Landlord who is the property owner....
A court order is a direction by a judge requiring a person to do, or not to do something. Once it is issued, the order is binding on every party involved in the matter. It is usually a written directive or an oral delivery by the Judge that will later be transcribed into writing and signed by the Judge....
Over the years friends, family, business owners have had to enter into joint business relationships under an umbrella popularly known as partnership. Partnership is a relationship between two or more people or businesses to undertake a project or business for the purpose of making and sharing profit. The parties involved are referred to as partners who come together to agree on managing a business or carry on a project to advance their mutual interest. Common interest is therefore a very important feature of a partnership relationship. All parties have a common interest, it is a joint interest with no one having an ulterior motive. In essence, It is an open relationship.
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First thing to note when negotiating a loan is that whatever was agreed during negotiation is oftentimes binding on parties (except you can prove the existence of some vitiating factors. Even at that, the obligation will be on you to show proof). This should be a guide and background knowledge when negotiating the terms of a loan. Your loan agreement is a contractual document, governed by the laws of contract. Parties have the freedom and liberty to negotiate the terms on the most reasonable grounds. This is why you should not be in a rush to sign off a loan agreement even when you think that you have your repayment plan all figured out...
Many people use the words co-founder and founder interchangeably, however, these two roles or descriptions are distinct. While a founder is the main person who has the ideas and rough sketch of the product or service delivery for a company, the co-founder helps to make this idea come to life by providing some complementary skill or add-on. This can range from special skills to providing financing for the business. Typically, when there is more than one founder, they all become co-founders but the founder can always maintain his status and have co-founders...
The need for funds has always been sacrosanct. Unfortunately, most financial institutions that have the licence to lend out money, do so in an institutionalised manner and are heavily regulated...
Starting a business is no easy feat, however, growing and scaling a business is arguably more difficult. It is important that the process of growing a business is made easy where possible. The availability of money plays an important role in scaling any venture. It is important for startup founders to understand the intricacies of funding. In this article we will examine the possible ways to fund a startup....
As an entrepreneur one thing you should avoid is making decisions that will cost you your business or make you incur loss (either money, money’s worth or relationship). It is therefore advised that every decision you make as an entrepreneur or business owner is carefully made, the consequences are critically weighed either positive or negative. Your decisions should not lead to the untimely closure of the business or conflict amongst partners, shareholders, stakeholders, employees, even with regulatory agencies...
IP is critical to any startup’s value, this is even truer for tech companies. In many cases, tech startup founders will have personally owned their IP in the early stages of their business. In such cases, it is important to subsequently assign the IP to the same entity that investors are investing in. To do this, an IP agreement to transfer ownership of the IP to the company is necessary.
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Many Founders struggle with getting value for their efforts at founding a business. this article gives a creative perspective to one of the ways to protect stake as a founder ...
A guarantor is someone who agrees to be legally responsible for a specified loan or agreement, should the person who has taken out the loan fail to make repayments. Guarantors can be a party to many types of agreements such as rental/tenancy agreements, personal loans and finance contracts....
The essence of a legal document (Contract Agreements, Notices, Court papers, etc) is to give the receiving party a notice of the content of such document and prompt performance of obligations where applicable. It is expected that upon receiving a legal document, the other party would act on it without delay.
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What is a business plan?
In very simple terms, a business plan is a building plan. The same way you have a building plan before you start building is the same way you need a business plan before you start a business.
Everyone has a plan in their everyday lives and there are a lot of factors that determine these plans. In starting a business you should have a plan not just on a paper but also a way you intend to handle the market.
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Data privacy is the proper and responsible collection, creation, use, sharing, retention and disposal of information about people. It also includes decisions about when not to collect, not to create, not to share and not to permit certain use of information to protect a person's privacy interest.
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The average SME owner would no doubt like to achieve growth and sustainability in their business. In order for growth to be achieved, SME owners should guard themselves against setbacks that may hinder their progress. These setbacks may include, unexpected occurrences of theft, breakages, lootings, fires, floods, strikes, the death of the owner of the business and any other crises that could befall a business. Crises are a normal part of doing business and business owners need to properly plan and manage crises....
Business organizations and entrepreneurs would usually require startup capital and subsequently, adequate funds to finance their operations. This would usually leave them open to many options which are readily made available to them, this is why deciding on and making a final choice on the best option for raising capital for a company or any business organization is important. This is because this decision can have a major impact on the success or otherwise of any business organization....
Corporate governance encompasses the various mechanisms and processes used in creating a balance between profit-making and the interests of stakeholders. For the purpose of this discussion, it is important to identify who these stakeholders are. They could either be internal or external and they include the customers, creditors, the government, government agencies, suppliers, directors, employees, investors, communities, and others who have a stake in the organization....
Post Incorporation matters are matters which arise after company incorporation or registration. While some of these matters are clearly stated as obligations of a business which must be performed annually so long as the business remains a going concern, some matters arise based on decisions made by the boards of a company or proprietors of a business name. ...
Employment relationships can lead to situations where either the Employer or the employee takes the other to court in a legal action to seek redress. These legal matters are treated by a specialized court, the National Industrial Court, which is established to protect the sanctity of employment relationships, rights, duties and obligations of both the employer and the employee. ...
Conflict in the workplace is inevitable: Opposite personalities clash, stress is prevalent, perceptions of situations vary, and viewpoints differ—all of which contribute to tension and disagreement. Some factors which may be responsible conflicts are;...
Conversely, the new normal has led to a situation where certain businesses increased in valuation such that the demand for their products/services increased. Unfortunately, many businesses would have more tales to tell about the negative impacts of the covid-19 pandemic than otherwise. This presentation is, therefore, a response to the question How does a company stay afloat and relevant in the era of the new normal? It addresses small and mid-size enterprises in particular.
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Many businesses are registered with the Corporate Affairs Commission, but it is also true (at least in practice) that not all businesses are registered. As a matter of fact, the common notion is that registration has little or nothing to do with the success of a start-up business....
This article enlighten current and prospective sole proprietors and partnership on importance thing to note with regards to the registration of business name in Nigeria....
Many techpreneurs spend a lot of time and energy to put softwares together for clients but are rarely guided on how to ensure that they do not run into problems while dealing on the software job. This article guides its readers on the important points to note when preparing a software agreement ...
We all have different reasons to want to establish our own association, be it a church, mosque, N.G.O, orphanage, or any other non profit or charitable organisation; whatever may be the reason, the aim of this write up is to simplify the procedure in the Companies and Allied Matters Act 2004....
The process is quite tasking, nevertheless, what I have done in this article is to give you a succinct step by step guide that would help you to change your business name to a new name of your choice....
The title of this article, perhaps, looks simpler than it is to access finance. If you are reading this piece, chances are that you have been cracking your brain on how to raise funds for a business or an idea. ...
The window is a landmark in the campaign for ease of doing business in Nigeria. Entrepreneurs should tap into the opportunity so they can operate bank accounts in their business name and access other opportunities open to registered entities....
Are you experiencing growth in your business and thereby need investment to stay competitive? If you are a Founder looking to attract finance, below are common mistakes made by founders which turn off prospective investors. Ideal solutions are also proffered to address the mistakes...
We have had to intervene in a series of occurrences relating to erroneous transfer of money to a wrong account. This blog is therefore put together to help you know what to do....
Take it or leave it, a company is as strong as its Board. Entrepreneurs should therefore not just spend quality time to ensure that they attract the right people that would midwife their company’s vision....
Compliance with Post incorporation fillings does not only gives the commission a piece of up-to-date information about your business but also a shred of evidence that your business still remains a going concern which the public can transact with without any shadow of doubt should a search be made on your business at the Corporate Affairs Commission....
Despite the harsh economic realities prevalent in Nigeria, there are still untapped sectors capable of offering incredible ROI’s to brave foreign investors. For example, despite Nigeria being the world’s 10th largest producer of crude, it still depends almost solely on exports to meet its energy needs. One can only imagine the billions of dollars to be made from setting up a refinery in Nigeria. Sectors such as Agriculture, Manufacturing, Mining and the services industry are just a few of such areas ripe for investment....
Since the introduction of the Executive Orders, the business climate has experienced growth and this is confirmed by our improved ranking by different international independent monitoring organisations. This is not to say that the Economy is at its best, nevertheless, we are better than where we used to be as a Nation....
There are systems and processes of a sustainable model for business growth. Systems relate more with how you can put structures in place for a sustainable business while processes deal more with your outlook (i.e. how your brand relates with the public).
Different businesses are on different pedestal; startups, employer of labour, idea level ‘businesses’, etc. This presentation is designed to benefit all.
Let’s start with the obvious....
Outsourcing involves outsourcing one or more of your processes or activities to other organisations or individuals. Some services that are commonly outsourced are HR and recruitment, legal, IT functions, content creation, digital marketing, etc.
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