Registration of business name with relevant authorities is as useful as giving name to a new born baby. There are lots of financing opportunities that opens for the registered business in every country most especially in Nigeria, because the government will really know that the business really exist and it is a legal entity. The corporate affairs commission is the agency in charge of company registration in my country. To access government loans and Grant, they will request for your registration number. A lot of great opportunities has bass by some Enterpreneurer because they didn't get there business register with the government. Why can't you take a bold step today and register your business name with relevant authority today or business registration has no meaningful impacts on the business?
Does registration of business name has any impact on business?
- Thread starter eojo2401
- Start date
Yeah it has because there are many people that will see the name of the business and that will be the reason why they will patronized your services because name is good it give the clear identity of individuals or the businesses they are representing and this will an important role in helping the business. Some will patronized your services because the name may be of their tribe or faith they are representing
IamDozzy
Active member
It is necessary for one to register his/her business name in order to avoid harassment from enforcement agencies working with those registration agencies. Also, it is important that one registers his/her business name so as to have a level of credibility amongst business in the business world. Most business owners seeking for one contract or the other have to present a registration of business name as a complusory requirement.
There are many businesses around that did not register before starting, some don't even know the relevance of it. But it is advisable to to register your business or company if you want to go beyond the normal level and stay long term as well. I believe in doing things the right way in business, all the necessary things must be done so that in future you won't encounter issues that may threaten the business.
Briangsam
Active member
Registration of business name is important in any part of the world. This gives a niche to the business. It shows the world what you are into. It also gives legality to the business because people will know that you are not running. This gives investors the confidence they need to transact with you. It could also serve as a leverage to seek for loans.
Henrylaw
New member
Registration of businesses is very important but most business startups do not know the benefits accrued to legalising a business. In Nigeria for example, you can have access to loan up to 3million Nigerian naira when you have registered your business with the government agency in charge. Legalising your business will also encourage investors to invest in your business.
Veetos12
New member
Yes it does have an impact with all the reasons given above. I was unable to receive so money shared last year, 2020 as Covid19 relief funds for small and medium scale enterprises because I haven't registered my business.
It depends but I think it does in certain businesses but not in all businesses. A big business should be registered. Some clients only wants to do a business with a registered company because they are skeptical about many fraudulent companies. Business registration increases the trust and the reputation of your business.
Tinaconcept
Member
Registration of business do for sure has impact on a business brand. A business which its products or services is not registered gives difficulties to the business. When I was working in certain office, before a contract is given to us as logistic company we must present our registration certificate.
Kingsley
Valued Contributor
Registering a business gives it a legal standing and makes it different from it owner or owners, the business can be sued or sue. And it also gives it the advantage of accessing credit facilities either from financial institutions or the government or probably from private individuals. It opens open the business and gives the customers a sense of safety when dealing with the organization.
Samuel72
Verified member
According to my own point of view I will say yes registration of the name of the business has a very great impact on the business, because the name of the business is the Goodwill of that very business, this is what sells the business, and over here in Nigeria your business name has to be registered for your brand to be accepted in the market and also for your brand to be more popular. now in the market, all business owners has to register their business under government.
Yes, you got my point, there are lots of opportunities in Nigeria to access free or low interest loan from the government when you have C.A.C certificate and TIN. Recently, the government rolled out survival grant. Only those that legalize there businesses are the one who benefited from the grant.
yes registration is really important and really necessary for business because we only know those students who are registered officially be always visit official website of official business work because he know that it is original and real we can take advantage and benefits from this but most of them avoid registering their name of business and then their business shut down which is really bad for all those people who has invested in the business who has started working in the business who has did their best to promote their business but never registered their business name so this is a kind of bad work if we are starting any business and we know that it is good and people can easily take advantage of a business so we need to register our business then we can promote our production on online re through social media
Alexandoy
VIP Contributor
When I started my boutique business I did not register my business because I reasoned that it was only for trial. But when I started my retailing business of computer supplies it needed to be registered for the clients are companies and they would be needing an official receipt. The registration of the name is in consonance with the business permit and the tax permit - the requirements for the official receipt.
Mellorando
Banned
Holicent
VIP Contributor
It does, as a registered brand, everything feels professional, secured and legal. When I'm dealing with a registered firm, I would have some assurance. Registering your company earns you some benefits from the government, you must have been paying tasks and when there is need for business grants or loans, you won't be exempted as you have your company registered, they are aware you exist, they have the records of your tasks payment and other contributions. You would get contracts also from those that would not consider you if you are not, nobody wants to have business with someone that takes shortcut.
Etini
Valued Contributor
One major advantage of registering your business name is that it would trademark that name and make it impossible for anyone to use that business name. If anyone tries to use it, you have the right to sue such a person.
Another important reason to register your business name is that it would help you to bid for corporate type contracts and projects. So many people at the top level won't allow you handle a job if you are not registered because they think you would run away with their money since you don't have any identity with government. And lastly, government can't give you contracts if you are not a registered company.
Another important reason to register your business name is that it would help you to bid for corporate type contracts and projects. So many people at the top level won't allow you handle a job if you are not registered because they think you would run away with their money since you don't have any identity with government. And lastly, government can't give you contracts if you are not a registered company.
Mikes smithen
Verified member
The registration of a business organization obviously helps a particular business to reach greater and higher heights. Registration of a business name helps a business product and services to be perceived as unique and very much recognized by members of the public and of course a business that is registered under the eyes of the Law, will always want to be patronized by customers and clients. While registering a business name it is expected to keep the business name very much simple so that customers and clients can easily identify and notify the business. Popular business name that we know include Coca-Cola and McDonalds.
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