Thinking of how to start a business in Lagos may seem like a very great decision, which it really is. The fact that you can now keep your own schedule, be your own boss, and even be answerable to nobody but yourself. However, there are certain things that have to be put in place and be readily available before starting a business.
5 Things You Need To Start A Business
- Business Idea: Researching and developing your business idea is the first step. You don’t need your business idea to be so big or capital exhausting for it to be profitable, as long as it is unique and well planned. Your business idea should entail solution for essential things needed such as office space, having a website, registrations and permits, your target audience and many more.
- Register Your Business: This also is very important when starting up your business. As a start-up, you need to register your business/company name. The Nigerian government agency saddled with the responsibility of registration of companies, business names and incorporated trustees is The Corporate Affairs Commission (CAC). Its head office is in Abuja but it has smaller offices in some states, so you could find any in your state to register your business.
- Capital: Starting a business requires capital. You need to thoroughly make calculations of how much you need to start your business in order to avoid stopping halfway into starting due to debt or insufficient fund. You must know that there are few basics business expenses which are printing business cards, opening a website, printing materials for advertisement or awareness, getting accounting software to help keep records, letter-head and others.
- Office Space: Most businesses need an office space and this is another important thing you you need when starting a business. You need somewhere customers can come in to know your service is real, a place to attend to your clients. However, it doesn’t necessarily has to be big or expensive as a start-up business, you could start with somewhere small but yet convincing and comfortable for your customers.
- Choose Your Team: As a start-up, it is important to know that you don’t have to employ so many staffs, your team members can be your friends or family who share the same business idea as you and are ready to make it work. Your team members are very important when starting a business. You must carefully choose in order to make the business grow.
Having talked about the essential things you need to start your business in Lagos, as a start-up, you need to subscribe to our start-up package. One that gives you the corporate materials you need in your business such as business cards, letter head, a website and more, at affordable prices. On the Lexoft Media Limited Start-Up platform, we have the Mini, Medium and Pro categories. Click here to view