Introduction Securing the right location is a critical step for startups and established businesses alike. Whether you need office space, retail premises, manufacturing facilities, or storage, entering into a lease or property agreement is a significant commitment that can impact your operations, finances, and growth potential. Understanding the intricacies of lease and property agreements is […]
Introduction Startups and established companies alike rely heavily on vendors and suppliers to provide the goods and services essential for their operations. Establishing strong relationships with vendors and suppliers is critical, but equally important is the need to formalize these relationships through well-drafted contracts. Vendor and supplier contracts serve as the backbone of the supply […]
Introduction In the dynamic world of business, startups and established companies alike engage in numerous transactions involving the sale of goods and provision of services. Formalizing these transactions through legally binding agreements is essential to protect the interests of all parties involved. Sales and service agreements serve as the foundation for these dealings, outlining the […]
Introduction In the rapidly evolving business landscape, startups and established businesses alike face the critical task of building a competent workforce. Whether you’re hiring your first employee or engaging specialized independent contractors, understanding the nuances of employment and contractor agreements is essential. These legal documents not only formalize the working relationship but also protect your […]
Table of Contents 1. Introduction Importance of Business Contracts Business contracts are the cornerstone of any professional relationship, serving to codify obligations, delineate rights, and stipulate remedies in the event of non-compliance. For startups and SMEs, robust contractual frameworks are indispensable for mitigating risks, ensuring regulatory adherence, and cultivating trust among stakeholders. Contracts operate not […]
In a critical call to action, Nigeria’s Attorney-General, Lateef Fagbemi, has urged for an overhaul of the country’s labour laws to address the growing economic crisis and industrial unrest. This proposed reform will likely impact businesses of all sizes, including small businesses and startups. Here’s what it means for small enterprises and how they can […]
In a recent development, stakeholders have emphasized the need for a revised withholding tax regime aimed at providing relief to small businesses in Nigeria. This proposal suggests a turnover threshold of N100 million, which is expected to significantly impact how small businesses handle their tax obligations. Background and Rationale The withholding tax system in Nigeria […]
