Don’t run your business without a business name or a bank account!!
Many people shoot them selves hard by running businesses for years without officially registering it.
Now why this may seem cool and the smart thing to do as some people may say but this may actually hamper your growth.
If you don’t have a business name, then you can’t have a corporate account and you can’t get record of past business deals which you can comfortably provide to investors who may be interested in partnering with you.
So the moment you start your business, creatively craft some fancy names for yourself based on your industry.
Go to the corporate affairs commission, if it’s a business name you won’t need a lawyer or anything and it will cost you less than 15k to register. If it’s a limited liability company you may need a lawyer to help you draw up the documents infact the government have made this even easier, that you may even be able to do this for yourself within 50k.
Once you have your name picked apply for name seearch with corporate affairs, if approved proceed with the whole process, within a few days you would be handed an official document.
Proceed to get a tin number and tax clearance which would be free for the first year and then go to any bank of your choice and register a corporate account, from there you have started building your brand.
Get people to start paying through your corporate account, by the time you are one year old, you would have built some level of credit.
Now it doesn’t matter how much you are making, this clearly shows you are serious minded and care enough about your business to do right by it.
Anyways don’t shoot yourselve on the feet by doing business without being able to account for it.
Don’t be a quack, go pro.
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