10 Reasons Why Small Businesses Fail/Solutions

Posted on 11 May 2020Categories Business, Entrepreneurship, Legal Advisor, StartupTags , ,   Leave a comment on 10 Reasons Why Small Businesses Fail/Solutions

A lot of Start-ups spring up on a daily basis in Nigeria. Some of these businesses die shortly after set up. What are the possible reasons for such failure? Here are 10 reasons why businesses fail and what you must do to succeed in business 1. Lack of clarity about the objective of the business: Don’t just start a business because other people are starting. You must be clear about the objective of your business; the problem which your product … Continue reading “10 Reasons Why Small Businesses Fail/Solutions”

IMPACT OF THE FINANCE ACT 2019 ON STARTUPS AND BUSINESSES

Posted on 18 April 2020Categories Business, Entrepreneurship, Legal Advisor, Startup, TaxationTags , , , , , 1 Comment on IMPACT OF THE FINANCE ACT 2019 ON STARTUPS AND BUSINESSES

In October 2019, the Finance Bill was presented before a joint session of the National Assembly for reading. After a public hearing held in November of the same year, the House of Representatives and the Senate passed the Bill, which was then assented to by the President in January 2020. The Act makes a significant amendment to the Companies Income Tax Act (CITA), Personal Income Tax Act (PITA), Capital Gains Tax Act (CGTA), Custom and Excise Tariff and the Stamp … Continue reading “IMPACT OF THE FINANCE ACT 2019 ON STARTUPS AND BUSINESSES”

THE NEED FOR PATENT PROTECTION

Posted on 23 November 2018Categories Business, Entrepreneurship, Legal Advisor, StartupTags , ,   Leave a comment on THE NEED FOR PATENT PROTECTION

Patent is an exclusive right granted for an invention i.e. a product or process that provides a new way of doing something or provides a technical solution to a problem. It may either relate to a product (product patent) or to a process (process patent). A patent protects new inventions and gives the owner the right to prevent other persons from using, importing or selling the invention without the owner’s permission. In Nigeria, a patent is granted to the person … Continue reading “THE NEED FOR PATENT PROTECTION”