Share this on WhatsApp Every business in Nigeria dreads the moment they have to file their Company Income Tax (CIT). The confusion, the endless paperwork, the fear of overpaying—it’s enough to give any entrepreneur sleepless nights. Here’s the good news: You don’t have to overpay or fear FIRS audits if you compute your taxes correctly. …
Bookkeeping for Small Businesses: The Lifeline to Avoiding Tax Nightmares
Share this on WhatsAppRunning a business in Nigeria is no small feat. Between keeping customers happy, chasing payments, and ensuring your operations run smoothly, bookkeeping often takes the back seat—until tax season comes knocking like an uninvited guest at your gate. If you’ve ever found yourself scrambling through receipts, bank statements, and handwritten notes, you’re …
The Hidden Tax of a Favour
Share this on WhatsApp Obiora was not a careless man. He ran his logistics company with the discipline of a trader who knew that money had wings. But when Emeka, his old schoolmate, came to him with a request, he did not think twice. Emeka had secured an opportunity abroad but needed to prove steady …
How is the cost-of-living crisis affecting what employees want from their bonus packages?
Share this on WhatsAppNigerian employees have been facing a significant cost of living crisis in recent years, characterized by rising inflation, high unemployment rates, and increasing prices of essential goods and services. Several factors contribute to this crisis: Setting up a Bonus Program The ongoing cost-of-living crisis is a subject on every employer and employee’s …
Benefits of having a Business name
Share this on WhatsAppHaving a business name helps you benefit from the following below; Supplier Arrangements A registered business also makes you eligible to receive supplier discounts that you wouldn’t normally receive as an unregistered business entity. Business Trip to Other Country Another great benefit of business registration is that you can easily obtain a …
Factors of getting a business loan
Share this on WhatsApp Business loans can be essential to launching a startup or expanding an existing company, with funds often used to secure inventory, purchase equipment, rent operational space, hire employees or cover a host of other expenses. However, business loans can be difficult for new companies to get. Limited Cash Flow A measure …
Do’s and Don’ts of a Business Credit line
Share this on WhatsAppLike most financing options, business lines of credit have both benefits and drawbacks. Knowing both will help you understand if this is a good option for your business. Do’s It’s a flexible financing option. One of the biggest draws for many businesses is the flexibility a line of credit provides. You have access …
Business License in Nigeria and how to get it done
Share this on WhatsAppLicense in Nigeria are compulsory both for Nigerians and foreigners to operate a business legally in different sectors of the economy in Nigeria. This article will guide you on how to get your business license done. They are permits issued by the government or through its agencies to individuals and companies to …
USING A CRISIS TO BECOME A MARKET LEADER
Share this on WhatsAppMost companies never make the decision to become extraordinary… They talk about becoming extraordinary, or write mission statements about becoming extraordinary. But they never make the commitment that takes hold, becomes real, and creates a new level of success. It starts with a decision A common thread among extraordinary companies is that …
Innovate or Die: How to conquer your market through relentless Innovation
Share this on WhatsAppDid you read our article about becoming a market leader? You will notice that innovation is an integral part of the market leadership process. Innovation is bigger than a product or a technological platform. In truth, it’s the innovations to organizations and management that precede product or technology Great leaders don’t innovate …