10 REASONS WHY SMALL BUSINESSES FAIL/SOLUTIONS

Posted on 11 May 202028 July 2021Categories 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 202028 July 2021Categories Business, Entrepreneurship, Legal Advisor, Startup, TaxationTags , , , , , 1 Comment on IMPACT OF THE FINANCE ACT 2019 ON STARTUPS AND BUSINESSES

By Lucky Kiine Esq. 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 introduces a significant amendment to the Companies Income Tax Act (CITA), Personal Income Tax Act (PITA), Capital Gains Tax Act (CGTA), Custom and Excise … Continue reading “IMPACT OF THE FINANCE ACT 2019 ON STARTUPS AND BUSINESSES”

INTELLECTUAL PROPERTY: WHAT YOU NEED TO KNOW

Posted on 30 October 2018Categories Business, Entrepreneurship, Legal Advisor, StartupTags , , ,   Leave a comment on INTELLECTUAL PROPERTY: WHAT YOU NEED TO KNOW

    Intellectual Property simply means creations of the mind like inventions; literary and artistic works; designs; symbols, names and images used in commerce. The law recognises and protects these products of the human intellect from unauthorized use by others. Intellectual property can be broadly classified into two: Industrial property and Copyright. Industrial property consists mainly of patents for inventions, industrial designs and trademarks. Copyright, however, is concerned with literary, artistic, musical works, cinematograph films, et cetera. Intellectual property rights … Continue reading “INTELLECTUAL PROPERTY: WHAT YOU NEED TO KNOW”

CO-OPERATIVE SOCIETY

Posted on 31 May 201830 July 2021Categories Business, Entrepreneurship, Legal Advisor, StartupTags , ,   Leave a comment on CO-OPERATIVE SOCIETY

Co-operative Society helps members develop a savings culture as it allows members set aside a certain amount of money and also gives members the opportunity of falling back on their savings to run their individual businesses. One of the features of Co-operative Societies is voluntary membership. In Lagos State, any 20 adults can voluntarily form a Co-operative and get it registered (It was formerly 10 adults). A person who has a common interest can join a Co-operative Society. Membership of … Continue reading “CO-OPERATIVE SOCIETY”