While corporate governance establishes the framework, compliance ensures it is adhered to, reducing the possibility of legal infractions and reputational harm. Compliance officers are the gatekeepers of adherence to these regulations.
Have you been told no by the banks because you did not meet their criteria for loans? Don’t take it personal!
The banks are rigid in terms of their criteria for loans and will decline your application for funding where your business does not meet the criteria. Many start-ups and SMEs do not qualify for bank loans for some of these reasons:
SAFE is a great way for startups to get funding and support from experienced investors. It works by giving startups a set amount of money upfront, in exchange for a percentage of the company. This percentage is usually much lower than what investors would normally get, so it’s a great deal for startups. SAFE also gives startups some time to grow and get more funding before they have to give up any equity.
Firstly, compliance means adherence to laws and regulations. Thus, a compliant startup or business follows the same logic. A compliant startup/business is a business that operates in accordance with all the applicable laws and regulations
In furtherance of enhancing the competitiveness of the business environment in Nigeria, President Muhammadu Buhari on August 7, 2020, signed into law the Companies and Allied Matters Act (CAMA), 2020 which repealed the CAMA, C.20, LFN, 2004. This new CAMA is Nigeria’s most signiﬁcant business legislation in the last few decades and it introduces new […]