From next Wednesday, January 1, 2020, business registration will be made easier. Business licence applicants will only need to fill in a Business Licensing Application Form and provide their Tax Identification Number (TIN).
What used to take days and sometimes weeks, will now be processed in 48 hours.
The move is a risk-based approach where the responsibility to comply with the laws falls on the business operator.
Minister for Industry, Trade, Tourism, Local Government, Housing and Community Development Premila Kumar made the announcement yesterday
It is a major shift to encourage entrepreneurship with a focus on home-based businesses and micro enterprises.
Read the full story here.