Nigeria’s Startbutton helps companies with their international expansion, compliance
Summary
This aids in managing treasury, foreign exchange, and settlement risks.We also provide a compliance as a service feature, which automates VAT collection for merchants. It also offers regulatory coverage for entities requiring a local license to operate in new markets.A primary reason why companies expand to other countries is because they want to sell more and unlock new revenue streams. Traditionally, say a Nigerian company wants to expand to Kenya, they have to consider a lot of things registering a local entity, opening a local bank account, setting up a payment system that allows them to receive payments in shillings and convert it to naira said Bolakale.After all of this is done, the company has to ensure that its tax compliant regularly filing its necessary tax. It plans to raise an extension round this year, and expand to more markets.Plans are underway to launch in Tanzania, Uganda, and Cote Ivory Coast before the end of the first quarter. Additionally, we aim to commence operations in North Africa before the year ends, said Bolakale.Startbutton takes commission from collections and settlements made by its customers, and also charges a recurring fee for other services such as compliance and taxes.