For the past few posts, we have talked about the beginning—where ideas come from, how to test them, how to fund them.

Now, the idea needs a name. A registration number. A legal existence.

This is the part where many women hesitate—not because they don’t believe in their business, but because bureaucracy is designed to slow you down.

It doesn’t have to.

This guide is your shortcut through the process—what you need, what mistakes to avoid, and how to turn your business into a real, registered entity.

3. Choosing the Right Business Structure

Your business is not just an idea anymore. It needs a legal identity. In Nigeria, that means choosing one of two structures:

Business Name Registration (Sole Proprietorship)

• Simple and fast to register.
• Cheaper (₦10,000–₦20,000).
• Best for small businesses, freelancers, and side hustles.
• You and your business are the same—no legal separation. If the business goes into debt, you are personally liable.
• Difficult to attract investors—most require a registered company.

Private Limited Company (Ltd)

• Creates a separate legal entity—you are not personally responsible for business debts.
• Required for scalability, corporate clients, and serious investment.
• More expensive (₦50,000+) but protects your personal assets.
• Comes with compliance requirements—you must file annual returns, maintain financial records, and meet regulatory obligations.

If your business is serious, start with an Ltd. If it’s a small venture you’re testing out, a Sole Proprietorship is enough for now.

Step-by-Step: Registering Your Business with CAC

The Corporate Affairs Commission (CAC) oversees business registration in Nigeria. Everything is digital now—meaning no long queues, just paperwork.

Step 1: Name Reservation

• Visit the CAC Name Search Portal → Check Availability
• Submit two preferred names in case the first is unavailable.
• If approved, proceed to registration.

Step 2: Pre-Registration (Filling Out CAC-BNo1 Form)

• Provide your approved business name.
• Enter owner details (for a Business Name) or director & shareholder details (for an Ltd).
• List the business address and objectives.
• Attach a valid ID (passport, national ID, or driver’s license).

Step 3: Pay Filing Fees & Stamp Duty

•  Business Name: ₦10,000–₦20,000
• Private Limited Company (Ltd): ₦50,000+

Step 4: Upload & Submit Registration Documents

• Go to the CAC Company Registration Portal (CRP) → Register Online
• Upload scanned copies of required documents.
• Submit your application and wait for CAC approval.

Step 5: Receive Your Business Certificate

• Once approved, you’ll get an electronic Certificate of Incorporation (Ltd) or Business Name Certificate.
• Download directly from the CAC portal.

At this stage, your business is official. But there’s more to do.

After Registration: The Paperwork Most People Forget

They tell you business registration is easy now.
They don’t tell you about:

✔ Tax Identification Number (TIN) – Without it, you can’t open a business bank account or legally operate. Apply through FIRS.
✔ Business Bank Account – Most banks require CAC registration, TIN, and proof of business address.
✔ SCUML Registration (For Regulated Businesses) – If your business deals in finance, real estate, or high transactions, you need this.
✔ Annual Returns – Even if your business isn’t making money yet, you must file yearly with CAC to avoid penalties.

This is the part where many women stop.

Don’t stop here.

4. Common Mistakes That Cost Women Their Businesses

Mixing Business & Personal Accounts

• It seems easier until you need a loan or investment.
• The bank asks for six months of business transactions. You have none.

Delaying Tax Registration

• You assume you’ll sort it out later. FIRS doesn’t forget.
• Suddenly, you owe tax penalties before making a single profit.

Not Protecting Your Business Legally

• A client refuses to pay. A competitor takes your business name.
• You can’t take legal action—because your business isn’t legally recognized.

Register early, separate finances, and protect your business from Day 1.

The Moment It’s Real

Weeks pass. The CAC finally approves your registration. Your tax ID arrives. The business bank account is open.

Nothing looks different. But everything has changed.

The name that once sat in your notebook is now official, searchable, real.

You can no longer say, "I’m just figuring it out."

Now, you are in business.

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