Entrepreneurs in Africa continue to face significant barriers to entry when starting a business. Burdensome and costly regulation can prevent entrepreneurs from entering the formal economy, negatively impacting all sectors.⠀
⠀
It’s therefore worthwhile to state that there is a clear evidence that streamlining regulatory procedures can encourage #business entry, business growth, job creation and rising citizens’ incomes. ⠀
⠀
The below graph shows that by streamlining procedures to focus only on name reservation and registration of income tax and VAT. with the possibility to attach all necessary documentations via a more simplified online platform will reduce the procedure and time of registering a business in Nigeria from 7 days to 2 days.
