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In Two Months, Nigeria registered about 39,000 Businesses

The Corporate Affairs Commission (CAC) registered about 39,000 new businesses in October and November 2018. That is a high level of entrepreneurial interest in a nation. The next phase would be for government to provide support and ensure most of these entities succeed. Just think about it: if each of these entities can absorb, on average, say 5 people in the labour market, 195,000 new families would have better Christmas or Sallah. More jobs for Nigeria. SMEs mean more jobs!

The Corporate Affairs Commission (CAC) registered about 39,074 business names between October and November 2018 under its new Business Incentive Strategy, the agency has said. ...

Under the new strategy, prospective business owners were offered a 50 percent reduction in cost from N10,000 to N5,000 to register their business names for a period of three months between October 1 and December 31, 2018.

The BIS was established to create a window for micro, small, and medium enterprises to formalise their businesses to allow them own corporate account with banks, have access to loans, grants and other government supports.