Business licensing reform and simplification is identified by the International Finance Corporation (IFC) as an important component to foster and promote a pro-business environment. Governments can reap many benefits from this, such as attracting foreign direct investments, improving government regulation and monitoring, driving job creation, boosting the economy and enhancing government effectiveness. Businesses can also obtain their licenses faster, reduce operational cost and transact conveniently online, anytime.
Taking into consideration the global competitive landscape and benefits derived from business licensing, an increasing number of countries are placing greater emphasis and allocating more resources to improve and simplify their licensing processes. According to the World Bank1, 296 business licensing and registration reforms have been carried out globally in 140 economies since 2004.
The role of technology is to provide the bridge to linkup various government agencies and business owners to experience simpler and smoother transactions on getting the necessary licenses efficiently. Using technology will also enable a stronger push towards a paperless environment benefiting both governments and business owners in terms of increased cost savings while securely integrating and sharing information with all relevant stakeholders.
CrimsonLogic has been successfully implementing eGovernment projects globally for more than 20 years. Our collaboration with the government of Trinidad and Tobago to develop an online business registration system, which greatly reduces registration time and simplifies work processes, has solidified our track record. This proves that we possess the extensive knowledge and experience to help governments be more efficient.
1Doing Business 2011: Making a Difference for Entrepreneurs