In recent times, government have made efforts to reduce the many huddles of doing business in Nigeria. The Presidential Enabling Business Environment Council (PEBEC) says Nigeria has to improve its World Bank Ease of Doing Business index ranking by 45 places over the next two years to achieve its goal of attaining the top 100 by 2020.
Government in working out ease of doing business is looking at the major lines of action such as availability of power, ease of registration of business, multiple taxation, provision of infrastructure etc often ignoring the seeming little requirements that bogged down businesses. Her efforts are geared towards accelerating and focusing on execution of government Executive Order and National Action Plans (NAP).
However, what we are looking at here is documentation that nearly 95% of businesses will not meet the requirements for government and corporate jobs bidding. Sometimes when efforts are made to obtain them, renewing these documents become an herculean task always leaving a shortfall on job bidding. The reasons for this inability to renew these documents range from poor economy turnover of previous year and lack of passion in meeting these commitments.
The documents vary with jobs and the entity offering the job. But the basic ones are usually as listed:
- a) Evidence of Certificate of Incorporation with Corporate Affairs Commission (CAC) including CAC 2 and CAC 7;
- b) Evidence of firm’s Tax Clearance Certificates for the last three years
- c) Evidence of Current Pension Compliance
- d) Evidence of Current Industrial Training Fund (ITF) Compliance Certificate
- e) Evidence of Current Nigeria Social Insurance Trust Fund (NSITF) Compliance Certificate
Some other organizations may request for COREN certificate, Certificate of Registration of the Special Control Unit against Money Laundering (SCUML), NEMSA Certificate, DPR permit, Professional Practice License etc in addition to the basic documents.
While it may not be expedient to reduce the requirements especially Tax Clearance Certificate which is ultimately the source of earning for government, others enhance professionalism and check quackery. The only objective solution to this situation is for small companies to establish a network of colleagues, make information of documentation status of their companies available and team up to bid for jobs while working to update their documents.
Young professionals are always enthusiastic about owning their business after years of work experience but the challenge of ease of doing business will frustrate the spirit and maybe kill the dream and send back would-be employers of labor to labor market.
Entrepreneurs must keep in touch with colleagues and their professional bodies to maximize available information for business success.
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