UNCTAD launches global enterprise registration portal

Geneva: UNCTAD and Global Entrepreneurship Week have launched a system that lists online business registration systems by country, to provide entrepreneurs worldwide with a one-stop-shop for online registration and information regarding business registration processes.

"New firm formation is the primary driver of long-term economic growth - and innovation and wealth creation in all types of economies," President, Global Entrepreneurship Week, Jonathan Ortmans said.

"As entrepreneurial ecosystems develop around the world, it will be those that simplify the process for entrepreneurs to start and scale their enterprises that are the most successful," he said.

The new portal was launched at the UNCTAD World Investment Forum 2014 recently.

Registering a business can be a long and cumbersome process, involving multiple government agencies, and is often too complex for entrepreneurs.

This contributes to people remaining in the informal economy in developing countries, where over half the population is in informal employment.

Ideally, most businesses should be registered simultaneously with all government agencies in a few minutes, with only one form and one payment.

The Global Enterprise Registration portal is designed to simplify business registration.

The portal allows entrepreneurs to provide comments and feedback on registration procedures, enabling Governments to improve their processes.

The portal also allows Governments to share solutions and best practices.