Document background
The Small Business Operating Agreement serves as a foundational document for small businesses operating in Nigeria, providing essential governance structure and operational guidelines. This document is crucial when establishing or formalizing a small business, particularly in situations involving multiple owners or partners. It ensures compliance with Nigerian business laws, especially the Companies and Allied Matters Act (CAMA) 2020, while addressing key operational aspects such as ownership rights, management responsibilities, profit sharing, and decision-making processes. The agreement is designed to prevent future disputes by clearly defining roles and responsibilities, making it an essential tool for business stability and growth within the Nigerian business environment.
