Promoter is a person who conceives the idea of starting a business, examines the feasibility of idea, assemble various resources, prepare necessary documents and perform other activities needed to commence the business.
Functions of a promoter
1. Identification of business opportunity;
2. Feasibility studies: the following feasibility studies may be undertaken:
(a) technical feasibility (b) financial feasibility (c) economic feasibility
3. Name approval;
4. Fixing up signatories to the Memorandum of Association;
5. Appointment of professionals;
6. Preparation of necessary documents.
