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Youwin Business Competition 2013 - Business (57) - Nairaland

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Re: Youwin Business Competition 2013 by aofete: 6:20am On Oct 17, 2014
I am having mine on monday and sure would drop any valuable hint after am done.
Denn:
Good morning team

Please is anyone having his/her validation on Monday?

South-south.....

Please assist us with a situation report on whether second director would be made compulsory.

Na beg I dey beg.....
Re: Youwin Business Competition 2013 by Denn(m): 7:40am On Oct 17, 2014
aofete:
I am having mine on monday and sure would drop any valuable hint after am done.

Thanks buddy

1 Like

Re: Youwin Business Competition 2013 by Denn(m): 10:21am On Oct 17, 2014
If you have not registered your TIN, please do so.

Service is usually fast... I got mine in less than 20 minutes... Though I explained the urgency.

Thanks
Re: Youwin Business Competition 2013 by Nobody: 11:01am On Oct 17, 2014
A non-awardee of youwin 3...Looking 4ward to get support 4rm u all just incase there is a youwin4. Congrat all once again

1 Like

Re: Youwin Business Competition 2013 by Chokomate: 11:33am On Oct 17, 2014
Oshe, we are here for you most deff just as Jonah is here for us. grin
irejahmaigmail:
A non-awardee of youwin 3...Looking 4ward to get support 4rm u all just incase there is a youwin4. Congrat all once again

Re: Youwin Business Competition 2013 by wakes: 2:12pm On Oct 17, 2014
Denn:


Facts:
The machines are all imported and none manufactured here in Nigeria. So if you are buying from Nigeria, there is a middle man cost already involved (not less than 25% on personal experience).

Alibaba and other verified b2b sites can give you so many options to choose from. The chinese on alibaba have very impeccable customer service and are always ready to explain and put you through. You also have the option of talking to more than one manufacturer, request to visit and inspect (if you can afford personally) and make important decisions.

Installation can be done by expatriates and they are ridiculously cheap...I am getting an expatriate from china in to manage the installation of my equipment and the company is charging 80USD per day apart from ticket and hotel bills. A Nigerian will charge you more.

CAVEAT
Open your eyes...
Not all sellers on b2b sites worldwide are genuine.
Do not buy from re-sellers. There are two types of businesses on b2b sites...re-sellers and manufacturers.

The re-sellers are middlemen and post what they don't have. Once you show interest, they ask you for payments then in turn go to the manufacturers to produce. the mark up cost is what you were trying to avoid earlier. In addition, quality is not assured as they are not in full control of the production process.

The manufacturers are cheaper, they are more flexible to your requirements and welcome you to visit their factory.

You can request for videos of the processes, request to inspect site.

Finally, ask for SONCAP....Standard Organization Of Nigeria Conformity Assessment Program Certificate. You need it to clear your goods at the port...Ask after you get an acceptable proforma invoice. This is to minimize the exporter passing the cost to you.

Once you get your acceptable proforma, show it to a clearing agent to give you an estimate of the clearing cost.

Register your form m (now called e-form m) on the portal BEFORE Shipment. ...

discuss further with your banker on this.

Thanks



Thanks Denn.This is an eye opener to me.
Re: Youwin Business Competition 2013 by bongo2011: 2:58pm On Oct 17, 2014
Denn:
If you have not registered your TIN, please do so.

Service is usually fast... I got mine in less than 20 minutes... Though I explained the urgency.

Thanks
Thanks for the information.
How do you go for the registration? Is the registration facility available online? If the registration facility is not available online, where can I do the registration in Lagos?

Thanks
Re: Youwin Business Competition 2013 by ariduz: 3:30pm On Oct 17, 2014
Hello everyone, I got a text message from Youwin like 30mins ago saying..
Kindly note, you are to provide evidence of being the majority shareholder 51% and above for existing business and NOT come with co-director to sign MOU.
Youwin..
Pls who else got it, cos it's really confusing or was it only sent to existing businesses alone?
Re: Youwin Business Competition 2013 by Denn(m): 3:31pm On Oct 17, 2014
bongo2011:

Thanks for the information.
How do you go for the registration? Is the registration facility available online? If the registration facility is not available online, where can I do the registration in Lagos?

Thanks

Depends on your business location.

I went to their office on Adeniyi Jones....almost the last building on that long stretch.

They will ask where your business address is...if its not in lagos, they will tell you to go to the relevant state...they also want you to go to their branch closest to you..

You will be given two forms, told to write two letters on your letter head with answers to a set of questions.

budget going there twice....first to pick up the form and guidelines and second to submit. go with original registration documents, 2 copies of your certificate of registration and 1 copy of other registration documents.

go with your company stamp or seal if you have.

once your forms have been picked, beg them to help process. they don't accept bribes.

it is something they can do.

daz all.
Re: Youwin Business Competition 2013 by Beedee777: 7:49pm On Oct 17, 2014
ariduz:
Hello everyone, I got a text message from Youwin like 30mins ago saying..
Kindly note, you are to provide evidence of being the majority shareholder 51% and above for existing business and NOT come with co-director to sign MOU.
Youwin..
Pls who else got it, cos it's really confusing or was it only sent to existing businesses alone?

Hi. I received same. Existing business.
Re: Youwin Business Competition 2013 by yakssson(m): 9:03pm On Oct 17, 2014
I received mine too (Existing Business)
Re: Youwin Business Competition 2013 by CoolKizzy(m): 11:41pm On Oct 17, 2014
I'm a new business and I received it too.
Re: Youwin Business Competition 2013 by ariduz: 5:09am On Oct 18, 2014
@beedee777, @yakssson..are your businesses incorporated?
Re: Youwin Business Competition 2013 by Beedee777: 5:59am On Oct 18, 2014
ariduz:
@beedee777, @yakssson..are your businesses incorporated?

Yes. Mine is. And yours?
Re: Youwin Business Competition 2013 by Beedee777: 5:59am On Oct 18, 2014
ariduz:
@beedee777, @yakssson..are your businesses incorporated?

Yes. Mine is. And yours
Re: Youwin Business Competition 2013 by ariduz: 6:11am On Oct 18, 2014
@beedee777...yes, I think it involves us too and we are not to bring any manager to co-sign our MOU..we should relate more outside this thread if you wldn't mind...my contact is 08033682759, mobile/ whatsapp, abd bbm: 2baba2e7..
Re: Youwin Business Competition 2013 by konos(f): 10:01am On Oct 18, 2014
ariduz:
Hello everyone, I got a text message from Youwin like 30mins ago saying..
Kindly note, you are to provide evidence of being the majority shareholder 51% and above for existing business and NOT come with co-director to sign MOU.
Youwin..
Pls who else got it, cos it's really confusing or was it only sent to existing businesses alone?
Got the message too. But a new business.
Re: Youwin Business Competition 2013 by sunylee1: 1:15pm On Oct 19, 2014
Fellow YouWiN! millionaires (YouWiN! 3 Provisional Awardees) I am also a provisional awardee and I want you peoples advices on a point that has been bordering me. Precisely those that will do their validation tomorrow can please help with advice from the experience tomorrow.

THE QUESTION:
In my YouWiN proposal I piut in for a media business and when I wanted to do my CAC registration of business name, they (in CAC) insited that I must provide a proficiency certificate, which I dont have; then they advised me to get someone that has the certificate so that I can attache it and include the persons name and passport in the registration document, which I did before they approved my documents for registration.

From the Legal document that YouWiN! sent us I noticed there that part of the demand for new business is that it MUST be a sole proprietorship, and based on my knowledge of business, sole proprietorship means only 1 person regsitered for a busniess and running the business.

Also, there was a mail that YouWiN! sent sometime ago before they selected winners that partnership is NOT allowed for new business and that any new business found to be in partnership will be disqualified adding that partnership is ONLY permitted for exixting business.

In the light of the above, what is the advice of my fellow nairalanders?
What do you advice I do?
Re: Youwin Business Competition 2013 by Nobody: 1:47pm On Oct 19, 2014
sunylee1:
Fellow YouWiN! millionaires (YouWiN! 3 Provisional Awardees) I am also a provisional awardee and I want you peoples advices on a point that has been bordering me. Precisely those that will do their validation tomorrow can please help with advice from the experience tomorrow.

THE QUESTION:
In my YouWiN proposal I piut in for a media business and when I wanted to do my CAC registration of business name, they (in CAC) insited that I must provide a proficiency certificate, which I dont have; then they advised me to get someone that has the certificate so that I can attache it and include the persons name and passport in the registration document, which I did before they approved my documents for registration.

From the Legal document that YouWiN! sent us I noticed there that part of the demand for new business is that it MUST be a sole proprietorship, and based on my knowledge of business, sole proprietorship means only 1 person regsitered for a busniess and running the business.

Also, there was a mail that YouWiN! sent sometime ago before they selected winners that partnership is NOT allowed for new business and that any new business found to be in partnership will be disqualified adding that partnership is ONLY permitted for exixting business.

In the light of the above, what is the advice of my fellow nairalanders?
What do you advice I do?
Remove the word 'Media' from your business name and try to describe your business operation to cover media activities vaguely.
Re: Youwin Business Competition 2013 by Chokomate: 2:56pm On Oct 19, 2014
Let me first of all ask some questions on some detaiks you excluded;
Does attaching the proficiency certificate means you guys are automatically partners in your business? Does the CAC certificate reflect your both names on it? Sunnylee I think why they asked you to get that proficiency certificate was just like getting a bank customer with a current account to surety you in the bank when you want to open a savings account and you don't have an ID card, in my opinion I think you where asked to get that document as a form of surety because of the sensitivity in the media or broadcasting industry these days, unless otherwise stated that you and the other party are owners of the business or maybe you are into an agreement with the other party to be your partner because he agreed to help you, if otherwise, I don't think you have a problem using his document as a neccesity to get your business name registered.
This is my opinion.
sunylee1:
Fellow YouWiN! millionaires (YouWiN! 3 Provisional Awardees) I am also a provisional awardee and I want you peoples advices on a point that has been bordering me. Precisely those that will do their validation tomorrow can please help with advice from the experience tomorrow.

THE QUESTION:
In my YouWiN proposal I piut in for a media business and when I wanted to do my CAC registration of business name, they (in CAC) insited that I must provide a proficiency certificate, which I dont have; then they advised me to get someone that has the certificate so that I can attache it and include the persons name and passport in the registration document, which I did before they approved my documents for registration.

From the Legal document that YouWiN! sent us I noticed there that part of the demand for new business is that it MUST be a sole proprietorship, and based on my knowledge of business, sole proprietorship means only 1 person regsitered for a busniess and running the business.

Also, there was a mail that YouWiN! sent sometime ago before they selected winners that partnership is NOT allowed for new business and that any new business found to be in partnership will be disqualified adding that partnership is ONLY permitted for exixting business.

In the light of the above, what is the advice of my fellow nairalanders?
What do you advice I do?
Re: Youwin Business Competition 2013 by bongo2011: 5:22pm On Oct 19, 2014
sunylee1:
Fellow YouWiN! millionaires (YouWiN! 3 Provisional Awardees) I am also a provisional awardee and I want you peoples advices on a point that has been bordering me. Precisely those that will do their validation tomorrow can please help with advice from the experience tomorrow.

THE QUESTION:
In my YouWiN proposal I piut in for a media business and when I wanted to do my CAC registration of business name, they (in CAC) insited that I must provide a proficiency certificate, which I dont have; then they advised me to get someone that has the certificate so that I can attache it and include the persons name and passport in the registration document, which I did before they approved my documents for registration.

From the Legal document that YouWiN! sent us I noticed there that part of the demand for new business is that it MUST be a sole proprietorship, and based on my knowledge of business, sole proprietorship means only 1 person regsitered for a busniess and running the business.

Also, there was a mail that YouWiN! sent sometime ago before they selected winners that partnership is NOT allowed for new business and that any new business found to be in partnership will be disqualified adding that partnership is ONLY permitted for exixting business.

In the light of the above, what is the advice of my fellow nairalanders?
What do you advice I do?

Although it was stated that a new business must be sole proprietorship for just business name registration, but in your situation it needs to be in partnership to get registration. My take on this is for you to get a notarized partnership deed signed by a commissioner of oath as stated in the first mail inviting you for the agreement signing. You must have minimum of 51% of the shares in the partnership.
Re: Youwin Business Competition 2013 by Denn(m): 9:10pm On Oct 19, 2014
^^^^^^^why did you wait till this time to raise this question??

If I were you, I would get someone with the required certificate as a shareholder (less than 5% shareholding).

you hold at least 95% and this won't give any issue in future.

Limited liability company registration.

I don't know if this is too late or relevant again sef
Re: Youwin Business Competition 2013 by sunylee1: 9:41pm On Oct 19, 2014
Denn:
^^^^^^^why did you wait till this time to raise this question??

If I were you, I would get someone with the required certificate as a shareholder (less than 5% shareholding).

you hold at least 95% and this won't give any issue in future.

Limited liability company registration.

I don't know if this is too late or relevant again sef

Thanks for your response. It is NOT late because I have done the CAC registration I will be going to court tomorrow for either partnership deed or affidavit. I am taking note of all responses so that I can combine all advice together to know what exactly to do next. Based on your advice if I will go for the partnership deed I will make my own share 95% and that of the second person 5% because he is NOT interested in holding any share, he only helped me fulfil CAC requirements. Thanks once more
Re: Youwin Business Competition 2013 by sunylee1: 9:46pm On Oct 19, 2014
bongo2011:


Although it was stated that a new business must be sole proprietorship for just business name registration, but in your situation it needs to be in partnership to get registration. My take on this is for you to get a notarized partnership deed signed by a commissioner of oath as stated in the first mail inviting you for the agreement signing. You must have minimum of 51% of the shares in the partnership.

Thanks for your prompt response I am thinking of 95% shares, as I said earlier, the other person is NOT interested in having any share at all. He only assited.
Re: Youwin Business Competition 2013 by sunylee1: 9:52pm On Oct 19, 2014
blink182:
Remove the word 'Media' from your business name and try to describe your business operation to cover media activities vaguely.

Thanks for your prompt response I tried everything possible but they insisted as far as I will venture into media I must present proficiency certificate and that is the main business idea I submitted fro the YouWiN! So the ONLY option I had left (in order to retain the idea is to present the proficiency certificate. Though I have completed the CAC registration, the advice I need is on what to do on the issue partnership.
Re: Youwin Business Competition 2013 by sunylee1: 9:58pm On Oct 19, 2014
Chokomate:
Let me first of all ask some questions on some detaiks you excluded;
Does attaching the proficiency certificate means you guys are automatically partners in your business? Does the CAC certificate reflect your both names on it? Sunnylee I think why they asked you to get that proficiency certificate was just like getting a bank customer with a current account to surety you in the bank when you want to open a savings account and you don't have an ID card, in my opinion I think you where asked to get that document as a form of surety because of the sensitivity in the media or broadcasting industry these days, unless otherwise stated that you and the other party are owners of the business or maybe you are into an agreement with the other party to be your partner because he agreed to help you, if otherwise, I don't think you have a problem using his document as a neccesity to get your business name registered.
This is my opinion.

Thanks for your response. Now to your questions:
1. Attaching the proficiency certificate means that I must include the persons name, passport and signature also in the registration documents
2. The guy with the certificate is NOt interested in any partnership. He ONLY assisted me to get through with CAC regsitration

Please what will be your own advice, some people have offered some suggestions. We really need to brainstorm. Thanks
Re: Youwin Business Competition 2013 by sunylee1: 9:59pm On Oct 19, 2014
Fellow YouWiN! millionaires (YouWiN! 3 Provisional Awardees) I am also a provisional awardee and I want you peoples advices on a point that has been bordering me. Precisely those that will do their validation tomorrow can please help with advice from the experience tomorrow.

THE QUESTION:
In my YouWiN proposal I piut in for a media business and when I wanted to do my CAC registration of business name, they (in CAC) insited that I must provide a proficiency certificate, which I dont have; then they advised me to get someone that has the certificate so that I can attache it and include the persons name and passport in the registration document, which I did before they approved my documents for registration.

From the Legal document that YouWiN! sent us I noticed there that part of the demand for new business is that it MUST be a sole proprietorship, and based on my knowledge of business, sole proprietorship means only 1 person regsitered for a busniess and running the business.

Also, there was a mail that YouWiN! sent sometime ago before they selected winners that partnership is NOT allowed for new business and that any new business found to be in partnership will be disqualified adding that partnership is ONLY permitted for exixting business.

In the light of the above, what is the advice of my fellow nairalanders?
What do you advice I do?
Re: Youwin Business Competition 2013 by bamistol: 10:18pm On Oct 19, 2014
sunylee1:
Fellow YouWiN! millionaires (YouWiN! 3 Provisional Awardees) I am also a provisional awardee and I want you peoples advices on a point that has been bordering me. Precisely those that will do their validation tomorrow can please help with advice from the experience tomorrow.

THE QUESTION:
In my YouWiN proposal I piut in for a media business and when I wanted to do my CAC registration of business name, they (in CAC) insited that I must provide a proficiency certificate, which I dont have; then they advised me to get someone that has the certificate so that I can attache it and include the persons name and passport in the registration document, which I did before they approved my documents for registration.

From the Legal document that YouWiN! sent us I noticed there that part of the demand for new business is that it MUST be a sole proprietorship, and based on my knowledge of business, sole proprietorship means only 1 person regsitered for a busniess and running the business.

Also, there was a mail that YouWiN! sent sometime ago before they selected winners that partnership is NOT allowed for new business and that any new business found to be in partnership will be disqualified adding that partnership is ONLY permitted for exixting business.

In the light of the above, what is the advice of my fellow nairalanders?
What do you advice I do?

Sunylee, you are NOT the only one. Any one doing registration with CAC for any business that requires proficiency certificate MUST have certificate to present. Either his own or go into partnership with someone who has the proficiency certificate. Your own name, passport and signature will come first before that of the person providing the proficiency certificate.

Sincerely, speaking I dont know how to advice you over this issue. I will only suggest that you wait to hear from those that will be going for validation tomorrow. I suspect that your validation is not tomorrow. I am also sure that you may not be the only new business that need this advice.

Be rest assured, there is solution because I know that YouWiN cannot drop anyone at this point because of proficiency certificate. After all they didnt make issue of proficiency certificate a criteria. All they demanded is any recognized certificate above school cert.
Re: Youwin Business Competition 2013 by Chokomate: 10:56pm On Oct 19, 2014
sunylee1:


Thanks for your response. Now to your questions:
1. Attaching the proficiency certificate means that I must include the persons name, passport and signature also in the registration documents
2. The guy with the certificate is NOt interested in any partnership. He ONLY assisted me to get through with CAC regsitration

Please what will be your own advice, some people have offered some suggestions. We really need to brainstorm. Thanks
Ok sunnylee, just go for the court affidavit tommorow as you intend, that's a good idea since you will have 95%. Keep the document intact and take it along with you on your signing day and explain everything to them okay, I want to believe that its not just you with this kind of complication, by Gods grace the ministry of finance and Youwin secretariat will find a way to handle this issue most deff since its not your fault, it was a basic requirement you had to meet.
The God that brought you this far won't leave you half way, he will surely complete that which he started for us all. Most importantly start fasting from tommorow till your signing day if you haven't started, pray and God will do exceedingly I bet you.
Have faith mi bro! Cheers
Re: Youwin Business Competition 2013 by jaydee87(m): 7:58am On Oct 20, 2014
@denn I have a question pls, can you tell me about the site you use in Netherland am an importer too but mostly I use the Asian and american markets would be happy if u can help me with that of the Netherland. thank you in anticipation
Nb: am also a farmer but am presently not practicing cos I want to go into the market aspect u know what I mean...
Re: Youwin Business Competition 2013 by Denn(m): 8:05am On Oct 20, 2014
jaydee87:
@denn I have a question pls, can you tell me about the site you use in Netherland am an importer too but mostly I use the Asian and american markets would be happy if u can help me with that of the Netherland. thank you in anticipation
Nb: am also a farmer but am presently not practicing cos I want to go into the market aspect u know what I mean...


For Netherlands, I did an online search for the companies that supply the specific growth substrates I plan on using and found out they exist in Netherlands and China. Their prices were even cheaper compared to China and they are industry standards.

It depends on what you want to buy. If you provide specifics, maybe we can help raise points...

Cheers
Re: Youwin Business Competition 2013 by Denn(m): 9:29am On Oct 20, 2014
^^^^^^ i have a question pls....so i don't turn to a proverbial lamp that shines everywhere but refuses to see its own bottom-

Are limited liability companies required to do the court declaration of shares being above 51%?

Legally i don't think so as there is already an allotment of shares form that shows the shareholding.

However, i don't want to start scampering all over abuja looking for a court.

ideas welcome pls.... pardon my question

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