If you are contemplating starting your business, company or organisation, or you have already established one, then, this FREE REPORT might be of great benefit to you.
Just as our lives are regulated by the laws of the land, even so are our business, company and organisation. Contrary to some people’s belief, laws are made to regulate business and corporate transactions for GOOD! No country enacts laws to discourage business and commercial activities, as no country will have hope of earning huge revenue constantly from businesses and companies, if it enacts laws to discourage people from running businesses and companies.
Whether you are running a business, company or organisation, there are laws you must comply with. And failure to comply with most of these laws may attract sanctions and may as well affect your business, company or organisation negatively.
Starting from pre-incorporation, incorporation to post-incorporation matters, you can’t afford to ignore the enactments governing your business, company or organisation, as the case may be.
And more important is the fact that ignorance of the law is not an excuse. You can’t claim ignorance when you violate the laws governing your business. LAWS ARE MEANT TO BE OBEYED AND IT IS YOUR RESPONSIBILITY TO KNOW WHAT THE LAWS SAY BEFORE YOU CAN OBEY THEM.
Have you registered your business or company? If you have not, then, it is high time you complied with the law which stipulates that every business or company must be registered. Running a business or company under an unregistered name is an offence that attracts punishment.
If you have registered your business or company, are you complying with the laws regulating post-incorporation matters? You may not know, but it is true that virtually all the major decisions that you will take in your business or company are strictly regulated.
For instance, apart from the annual returns you file with CAC, there are many other returns you are expected to file with CAC. We can’t go into the detail now, but one thing is clear: THE LAW MAKES IT OBLIGATORY THAT YOU OBEY ALL LAWS REGULATING YOUR BUSINESS OR COMPANY TO THE LETTER.
These laws are not in anyway cumbersome! But you have to be vigilant to ensure you comply with the laws. As it is said, “EQUITY AIDS THE VIGILANT AND NOT THE INDOLENT.”
Be that as it may, you don’t need to go and study Law in the university and in Nigeria Law School in order to know the laws you must comply with. The usual practice is that businesses and companies have legal practitioners that they employ (on retainership) or that they consult from time to time.
If your business or company is not buoyant enough to appoint a legal practitioner on retainership, then you must be ready to pay consultation fee to a legal practitioner, who will not only advice you, but also take further steps to do the necessary things to be done upon further payment of professional fee.
All said and done (though there is more said than done), the message is clear: TO RUN A SUCCESSFUL BUSINESS OR COMPANY, YOU MUST AVOID RUNNING FOUL OF THE LAW. YOU MUST COMPLY WITH THE LAWS REGULATING YOUR BUSINESS OR COMPANY. The laws will always work for the good of your company, if you comply with those laws. Endeavour to do that toady and you will be glad you did!
CONSULTANCY
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SUNDAY ADAJI CHAMBERS 