Operation of the business registry

Abstract

As noted above (see for example paras. 38 to 40), business registration can be implemented through many different organizational tools that vary according to jurisdiction. States embarking on a reform process to simplify registration will have to identify the most appropriate and efficient solutions to deliver the service, given the prevailing domestic conditions. Regardless of the approach chosen by the State, aspects such as the general legal and institutional framework affecting business registration, the legal foundation and accountability of the entities mandated to operate the system and the budget needed by such entities should be carefully taken into account. Reform efforts rely to different extents on a core set of tools, including: the use of technology; the establishment of a one-stop shop; and interconnectivity between the different authorities involved in the registration process (with the possible adoption of a unique identifer). States should also ensure that their reform efforts do not inadvertently exclude the adoption of emerging technologies that might further improve the operation of the business registry (e.g. the use of distributed ledger technology).