At a time when governments around the world are focusing on key business reforms and starting a new business takes average 21 days worldwide compared to 46 about ten years ago, the most common area for reform has been easing the formalities for starting a business with 49 reforms just during the past year.
According to the World Bank’s Doing Business 2017 report, almost 600 reforms were recorded since 2004 in the area of making it easier to start a business. In fact, in terms of overall business reforms, developing countries carried out more than 75 per cent of the 283 reforms in the past year, with Sub-Saharan Africa accounting for over one-quarter of all reforms.
