A new simplified online registration system, called the Global Enterprise Registration, has been introduced in an effort to boost business growth in Africa and other emerging markets.
The initiative was launched at the World Investment Forum 2014 by the United Nations Conference on Trade and Development (UNCTAD) and Global Entrepreneurship Week (GEW) this week.
Registering a business is too often a long and cumbersome process that involves multiple government agencies. The time, money and complexity of the process considered as being one of many obstacles government can quell. In a blog post GEW notes that more than 50% of the population in the developing countries – and many more around the world – work in the informal sector.
Kurt Tong, Principal Deputy Assistant Secretary of the Bureau of Economic and Business Affairs of the United States of America says that the portal will encourage more countries to implement more efficient online registration processes:
The “Global Enterprise Registration” portal is a global index of web portals allowing online business registration or describing the business registration process.
It is intended to promote the use and improvement of business registration services worldwide, by allowing easy access to existing online systems and by facilitating the exchange of experiences and best practices among governments.
Global Enterprise Registration is jointly produced by UNCTAD and by the Global Entrepreneurship Week, an initiative of the Kauffman Foundation to engage all players along the investor and entrepreneurship spectrum in strengthening business ecosystems around the world.