Avoid penalties and business shutdowns by fixing common legal compliance mistakes Nigerian businesses make.
INTRODUCTION
Many Nigerian businesses fail not because of poor products, but because of legal non-compliance. Avoid these mistakes to secure your business.
1. Not registering the business properly
Business must be registered with the Corporate Affairs Commission (CAC).
2. ignoring tax obligations
Businesses must:
• File returns
• Deduct taxes
• Keep records
3. poor contract documentation
Verbal agreements cause disputes.
Use written contracts.
4. violating labour laws
Ensure:
• Employee contracts
• Pension deductions
• Safety compliance
5. no legal advisor
Every serious business must have a lawyer.
CONCLUSION
Legal compliance is essential for growth.
Get expert guidance today.
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