Following the last post on how to register your business name in Nigeria with the Corporate Affairs Commission CAC, I got a lot of feedback from applicants about issues with getting their desired name accepted. Every CAC application for a name reservation costs 500 Naira and doing this too many times would eventually waste your time and hard-earned money.
To help you avoid this, here are five tips for CAC Business Name Registration to prevent denial from the Corporate Affairs Commission CAC:
- Use a combination that involves your personal name: This is basically a bonus tip as the CAC places a lot of recognition to personal names and any name combintaion that involves a personal name has a higher selection advantage of 90% sucesss. For example, rather than saying Diamond Make Up, you could say Sholape Adebimpe Diamond Make Up.
- Use more than four words: The more the words, the greater your chances. The less the words the more likelihood of it being already in use or similar to somthing already existing. You want to use a combination that is so long and dynamic that it doesnt have similarities wih any thing else.
- Create a new word: There is a high chance that that word that sounds amazing to you, has sounded amazing to several other people. There is nothing new under the sun. Go through the 26 alphabets and create a new word that sounds great to you and ou will have a higher chance.
- Don’t use prohibited words: There is a long list of words that will be denied, check the support page and do not use any of them. They include using words like trust or state. These are words that require a lot of backing.
- Use the right qualification for your business: Don’t use academy for media house, don’t use consultacy for plumbing except you want to consult for plumbers. Use a qualification that goes aptly with the category that you chose for your business whilst regsitering.
I hope this has been helpful. Goodluck.