Rwanda has, since 2008 worked consistently in improving its environment for companies to do business, facilitating investors to put their money to good use in the country’s different economic sectors.
Last year reforms led to Rwanda being ranked the third easiest place to do business in Africa and 46th globally in the World Bank’s 2015 doing Business report.
The Doing Business reforms focus on 10 main areas that affect business which include, the ease of starting a business, obtaining construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
This year, the Rwanda Development Board (RDB), the government agency behind the constant reforms has even worked on newer reforms on the thematic areas, further making Rwanda’s business environment more conducive.
how fast can you start a business in Rwanda?
This indicator looks at the Procedures officially required, for an entrepreneur to start up and formally operate an industrial or commercial business, as well as the time and cost to complete these procedures and the paid-in minimum capital requirement .
These procedures include obtaining all necessary licenses and permits and completing any required notifications, verifications or inscriptions for the company and employees with relevant authorities.
The ranking on the ease of starting a business, according to the World Bank is the simple average of the percentile rankings on its component indicators
However, in Rwanda’s case, the idea of creating a conducive business environment starts with the ease of registering a business and despite the fact that the idea of starting a business requires courage and strength from those who intend to start their respective business ventures globally, RDB has consistently made it easier for all those that want to register businesses to do so in the shortest period of time.
This year, RDB has made it even much simpler.
With this year’s reforms, there has notably been an upgrade of the online business registration system and removal of unnecessary requirements by RDB.