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UNCITRAL Legislative Guide on Key Principles of a Business Registry

image of UNCITRAL Legislative Guide on Key Principles of a Business Registry

This legislative guide is prepared by UNCITRAL to promote an enabling legal environment for micro, small and medium-sized enterprises (MSMEs). The guide is based on the premise that it is in the interests of States and of MSMEs that such businesses operate in the formal economy. This guide also reflects the idea that entrepreneurs that have not yet commenced a business may be persuaded to do so in the formal economy if the requirements for formally starting their business are not considered overly burdensome, and if the advantages for doing so outweigh their interest in operating in the informal economy. The guide includes best practices from various parts of the world and 58 recommendations aiming at assisting States in streamlining their business registration procedures.

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Introduction

The Legislative Guide on Key Principles of a Business Registry (the “Guide” or the “Legislative Guide”) has been prepared on the understanding that, in order to create a sound business environment, it is in the interests of States and of micro, small and medium-sized enterprises (MSMEs) that such businesses operate in the formal economy. This Guide is also intended to reflect the idea that entrepreneurs that have not yet commenced a business may be persuaded to do so in the formal economy if the requirements for formally starting their business are not considered overly burdensome, and if the advantages for doing so outweigh their interest in operating in the informal economy.

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