Brazilian Minster Says Starting Up Will Get Easier
Called “Rede Sim” (Yes Network), Brazil is implementing an integrated system to fulfill regulations to open a business. The system will be operating starting June 2014, announced Minister for Micro and Small Enterprises Guilherme Afif Domingos.
However, before the initiative can take effect, Congress will first need to pass complementary legislation, said Minister Domingos, who is known successful businessman. He took this position only last May, upon the creation of the new agency dedicated to entrepreneurs. Previously, this area was the jurisdiction of the Ministry for Development, Industry and Foreign Trade.
In addition, The roll-out of this one-stop system will be gradual. First, citizens of Brasilia, the capital city, will test it. Afterwards more populated states of Brazil’s federal system, such as Rio de Janeiro will be able to use it.
Currently, starting a business takes 13 procedures and 107.5 days, according to the World Bank’s Doing Business indicators. These numbers are high even compared to regional standards.
comments powered by