Monthly Archives - June 2015

21 Jun

DOING BUSINESS IN NIGERIA: HOW TO GET FINANCE FOR YOUR IDEA

Getting finance to kick start and run your idea can be a daunting challenge in Nigeria, and without capital it’s difficult to take your idea to the next level. In continuation of our series on Doing Business in Nigeria we now bring you several ways in which startups can access necessary capital to drive their ideas. A key starting point to raising capital is financial planning which basically involves the calculation of the amount of expenditure you will incur and [...]

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17 Jun

DOING BUSINESS IN NIGERIA: TOP 5 LEGAL MISTAKES MADE BY ENTREPRENEURS

Deciding to start a business can be one of the most exhilarating decisions you can make in your life and it usually starts with an idea which is then researched and documented in the form of a business plan. Many entrepreneurs however fail to pay attention to legal issues which can lead to conflict among stakeholders and/or death of the business. We have now identified the Top 5 legal mistakes made by entrepreneurs and how you can avoid them: Wrong [...]

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10 Jun

DOING BUSINESS IN NIGERIA’S FREE TRADE ZONES

A free trade zone is an area where trade barriers have been eliminated. In such selected areas goods may be landed, handled, manufactured or reconfigured, and re-exported without the intervention of the customs authorities. Free-trade zones are usually located around major seaports or international airports. An example is the Lekki Free Trade Zone which is strategically located around the Proposed Cargo Airport and Lekki Deep Sea Port. Nigerian Government has so far licensed over 32 Free Trade Zones located in [...]

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08 Jun

DOING BUSINESS IN NIGERIA: 5 THINGS TO NOTE BEFORE SIGNING ANY CONTRACT

LEGAL TIPS: - ALWAYS CONSULT A LAWYER TO REVIEW OR DRAFT YOUR CONTRACTS - NEVER SIGN ANYTHING THAT YOU DON'T UNDERSTAND OR AGREE WITH - DO NOT PROMISE SOMETHING YOU CANNOT PROVIDE OR FULFILL - ALWAYS PUT YOUR CONTRACTS IN WRITING - ALWAYS KEEP A COPY OF ALL DOCUMENTS YOU SIGN A contract is like a promise between people. It is an understanding, a deal between two or more people or organizations to do certain things. Each person or organization who agrees to do something [...]

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