Entrepreneurs in South Africa often face many obstacles before getting their businesses up and going. As a response to this problem, the Department of Trade is planning on launching a business portal for existing and aspiring entrepreneurs by October 2019.
Minister of Trade and Industry Ebrahim Patel said that the portal would significantly improve the ease at which business is done in South Africa. According to Patel the portal will allow business owners to get company registration, domain name registration, B-BBEE certificate and SARS registration online at the same time. This portal could change business for South Africans majorly as South Africa is ranked number 82 in terms of ease of doing business worldwide, according to the World Bank’s Ease of Doing Business Report.
According to the World Bank’s Ease of Doing Business Report, the criteria for ease of doing business includes:
- Enforcing of contracts.
- Getting access to electricity.
- Resolving insolvency.
- Getting credit.
- Protection of minority shareholders.
Do you think this platform will improve business ownership in South Africa? Comment Below.