How to File Annual Returns with Corporate Affairs Commission

Procedures for Filing of Annual Returns in Nigeria. It is mandatory for every registered business to file their annual returns with the Corporate Affairs Commission not later than 30th June every year except the calendar year in which the business name is registered does not end by December. This is the only way of informing the Commission that your company is still a going concern. If you don’t file your annual returns over a long period, the Commission can strike off your business name or company from the Register of companies. Also, the Commission may not grant the request for Continue ReadingHow to File Annual Returns with Corporate Affairs Commission

How to Obtain Tax Identification Number (TIN) in Nigeria

What is Tax Identification Number (TIN)? The Taxpayer Identification Number (TIN) is a unique number allocated and issued to identify a person (individual or Company) as a duly registered taxpayer in Nigeria. It is to be used by that taxpayer alone. Registration for tax purposes is a legal obligation of every person who is required to pay tax in Nigeria. After you must have registered and commenced your small business, you must have the understanding of tax issues in Nigeria. The first thing is for you to visit tax office and apply for Tax Identification Number (TIN) and VAT registration. At Continue ReadingHow to Obtain Tax Identification Number (TIN) in Nigeria

Starting Your Personal Business

Owning a personal business is a dream of many people. Personal business is an option to consider if you desire true freedom. Almost everybody working as an employee wants to be liberated from the dictates of their employers. They want to do things in their own ways if only they are the owner of the business. But unfortunately, this remains an unachievable dream till they reach their retirement age. Some believe that they would start their own personal business after attaining retirement age but they soon realize that what stopped them from starting their own personal business when they were Continue ReadingStarting Your Personal Business

How to Increase Sales in Small Business

You can easily increase sales by following the following tips. Every business craves to increase sales figure. They want to record a higher sales figure than the previous year irrespective of the scale at which they operate. A million dollars business wants to achieve multimillion dollars; multimillion business wants want to enter into its billion, billion dollars business wants to become multibillion and so on. No one wants to remain at the same spot. But how can a business move from one level to the other? In another word, how can a small business increase sales? One of the means of determining Continue ReadingHow to Increase Sales in Small Business

How to Write Feasibity Study Report for Small Business

Format and Content of a Good Feasibility Study Report as Required by the Bank of Industry. Whether you are writing feasibility study report for your small business or you are engaged as a consultant to write a feasibility for another person, you need to get it right. Otherwise, its objectives will be defeated. Feasibility report is the output of your research and field work about a particular venture to determine when the it is worthwhile or not. The feasibility study report will determine whether further step such as raising of capital or investment decision will be taken. If investment decision Continue ReadingHow to Write Feasibity Study Report for Small Business