Skip to main content

Benin is now the fastest place in the world to start a company

by Joy Green, Dec 1
2 minutes read

A new fully digital service enables any entrepreneur in Benin to create and register a business on their mobile phone and receive official incorporation within two hours. The ease and speed of the process beats places such as the EU (average incorporation time 3 days) and New York (average time 7 days) and is a great example of ‘leap-frogging.’ The only other country that comes close is Estonia.

Benin is the fastest place to open a business

The service is based on a UN digital government platform called eRegistrations, which aims to make official procedures more accessible and transparent for small businesses.

So what?

According to the UN, the administrative barriers faced by small businesses in developing countries strand many in the informal sector, unable to access legal protections, insurance and loans. The new online service in Benin was launched just before the pandemic and quickly proved its worth by helping thousands of entrepreneurs to set up new businesses just as previous sources of income were affected by covid restrictions, bringing greater economic resilience to swathes of the population. The service has also made life easier for government officials and increased their productivity and job satisfaction.

According to the UN, there is scope for many more government services to move online via the platform and similarly improve their accessibility, transparency and productivity. This includes land registries, civil registries and social security systems.

eRegistrations is also in use in seven other countries with scope to spread further.

Sources

Details

by Joy Green Spotted 34 signals

Joy is a Principal Futurist at Forum for the Future.

Have you spotted a signal of change?

Register to receive the latest from the Futures Centre.
Sign up

  • 0
  • Share

Join discussion

Related signals

Our use of cookies

We use necessary cookies to make our site work. We'd also like to set optional analytics cookies to help us improve it. We won't set optional cookies unless you enable them. Using this tool will set a cookie on your device to remember your preferences.

For more detailed information about the cookies we use, see our Cookies page.

Necessary cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytics cookies

We'd like to set Google Analytics cookies to help us to improve our website by collecting and reporting information on how you use it. The cookies collect information in a way that does not directly identify anyone. For more information on how these cookies work, please see our 'Cookies page'.

>