The government has called on informal traders to formalize their businesses with the Business Registration and Licensing Agency (BRELA) should they want their business to be recognized as well as contributing to the country’s development.
The minister of Industry and Trade Prof Kitila Mkumbo made the call in his official tour at BRELA on Wednesday evening.
“Traders must have plans of registering and formalizing their business so that they can gain recognition needed for various services. The good thing is that procedures of formalizing businesses are well articulated and simplified,” he said.
Prof.Mkumbo assured traders on supportive business registration and formalization since the agency has been entitled to facilitate trade in the country and not otherwise.
He directed BREALA to keep on facilitating traders and their businesses through addressing challenges which might in a way or another be hindering the flow of businesses.
Earlier, BRELA Chief Executive Officer, Mr Godfrey Nyaisa explained to the minister that after embarking on an online registration system, time for registering company has been lessened to a day.
So far, according to the CEO, the agency has reach its goal of registering businesses and companies by 5 percent of this year’s target, thanks to the improvement of online registration system “BRELA has already registered 7,148 new companies against the goal of registering 9,528 new businesses and companies BY June 30, this year,” the executive added