With a population of 148 million and the second largest economy in the continent after South Africa, the state of Nigeria’s economy is a bundle of extreme contradictions. Us states sources 10% of its crude imports from abundant oil fields in the Niger Delta, a region that is also here is where hula one of the largest know natural gas reserves in the world. Despite these natural endowments, Nigeria is crippled with rampant poverty and depressing macroeconomic indicators and human development indices. Unemployment is endemic and more than 54% of its population endures less than $1 daily. Decades of political turmoil, civilian unrest and large scale government mismanagement are largely to blame for this state of Nigerian functions.

The return of democracy in 1999 paved approach for economic reforms along with the adoption of an ambitious plan to take Nigeria to the top 20 world economies by 2020. A massive subsequent reprioritisation of economic policy initiatives has brought home tangible results: currency reserves grew fivefold between 2003 and 2006, while GDP growth averaged more than 7%. However, and because of long-standing systemic imbalances, per capita GDP dipped from $444 in 1997 to $430 in 2004, even while poverty levels actually increased.

The bulk of earning has been Nigeria’s overdependence on oil and gas exports that fetched it an estimated $600 billion in the last five decades, but made little difference to the non-oil sector, which floundered within a climate of policy negligence and inadequate financial and technical support. The thrust of Nigeria’s renewed economic objectives must be on entrepreneurship development, taking into account its mammoth human resource capability, and in a fashion that makes inclusive yet rapidly accelerated economic growth possible. Weaning away obsession with non-renewable resources with the simultaneous promotion of micro, small and medium enterprises (MSMEs) is crucial to achieving both the 2020 objective and Nigeria’s Millennium Development Goals.

MSMEs have been contributing to the rapid growth of ones multitude of economies round world, historically beginning with UK and America to gradually Europe, Latin America and lately in considerable parts of South and East Asia. Currently, more than 90% of all enterprises in the world are estimated to be MSMEs, accounting for up to 80% of total employment prospects. In OECD countries, the MSME component is just as high as 97% of total business activity, contributing between 40% and 60% of GDP1 in member countries. These statistics hide quite a lot of ideas for Nigeria, in the context with the economic development targets.

First among them could be the fact that wholesome MSME growth is fundamental towards the expansion of rural economies as part of sustained macroeconomic development. MSMEs comprise a diverse mix of agriculture-based, production, services and trade sectors; classified in regards to the basis of asset value and employee base on the given scale of maximum and minimum scores each counts. They often represent an extreme variety on the subject of of size and structure, right from rural artisan guilds, through small machine shops to emerging software and IT firms. Substantial by definition dynamic and comprise a wide selection of growth-oriented skill sets, with special needs in regards to innovative solutions, technology and equipment and knowledge up-gradation. The central requirement in promoting them, however, is improvement of a viable market becoming with built-in ease of access for small and medium enterprises.

At the policy level, Nigeria has taken proactive steps to promote MSME initiatives, the most notable being a legislative amendment that requires commercial banks operating in the country to set aside 10% of pre-tax profits for investment in smaller facilities. Both the IMF and World Bank currently run separate outreach programmes to aid Nigerian micro-financing through tailored procedures for streamlining credit evaluation and monitoring micro-loans. The effectiveness of these measures has been borne out to some extent by recent developments.

In June this year, the Nigerian government announced the disbursement of $20 million2 in small-scale industry loans. This is a considerable achievement considering it multiplied out of the $8.4 billion initial World Bank grant to the sector in 2006. Policy makers negotiated the habitually poor access to loan and equity capital in Nigeria with the introduction of brand new micro-financial institutions that afforded wider and deeper funding solutions.

Despite this initial euphoria, the overall Nigerian MSME productivity and growth potential remains acutely constrained. Business development services Aadhar Udyog Registration in India order to be generally underdeveloped in terms of projected potential, specially poor in rural areas outside the major urban focus centres. Besides inherent infrastructural deficits, MSME growth rates are being further affected by insufficient entrepreneurial knowledge, specially the ability to identify rewarding business occasions.

A trademark is your business’ identifier, it protects ownership of your name, logo, tagline, or whatever mark you may use to identify to the consuming public your business’ product or service. There are just a few logical reasons why you need to protect your brand:

Notice

Trademark registration of the mark gives everyone constructive notice of the ownership. In my view, this most likely of, if not the most compelling reason for registering your mark. With notice, a alternative party doing a explore an identical or similar mark as yours will make sure that you already own the mark, it is therefore put on notice that its use of an identical or similar mark to yours may lead to trademark infringement. 3rd party is used on notice to locate a new and different mark. With such notice, registering your mark prevents any conflict in the future.

Social Media

Social media is a fabulous resource for some businesses. Customers search for brand names on the many social media sites including Facebook, Twitter, and Pinterest. Each advertising venue has policies there to repel improper activities including improper marketing. Unfortunately, the practice of a person(s) or entity improperly using another company’s name or brand on social sites for financial gain, for example, is not uncommon. Such improper practices can result in the venue suspending the wrongdoer’s internet sites account. Comprehend the venue’s policies procedure for assignment of Trademark in India more. However, I have found that whenever complain the social media site for these wrongdoing and claim that another is usually your brand without permission, the company administrator responds with a request of proof of ownership of your subject type. A trademark registration gives compelling proof of brand control.

Brand Loyalty

Registering your mark shows a dedication to your brand and shows prospects that perseverance. The goodwill that could be developed through such commitment is invaluable to a profitable business.

Cybersquatting

Cybersquatters register domain names that is the same or much like other parties’ trademarks or known brands with the one purpose of advertising them (to the rightful owner) high level. The Anti-Cybersquatting Consumer Protection Act allows a trademark owner to file a lawsuit and collect damages from individuals who register a website name that is identical or similar towards the trademark.

Trademark Renewals

Trademark registration can last as long as you continue making use of the mark in commerce. There are some companies that have registered trademarks that happen to be over a hundred years old.

Trademark registration may not necessarily for company. However, there a variety of compelling options for protecting your brand because you protect any other business computer software. A trademark is your business’ brand, its identifier. Protect it with trademark registration.