Thursday, December 08, 2005

Small Business: Angola worst place in the world to start a micro-enterprise

A survey by the World Bank, claims that outdated and poorly implemented rules and regulations, together with an over-reliance on income from oil and diamonds, are hampering the development of small and medium businesses in Angola.

The study, which focused on small-scale enterprises, revealed that Angola was the worst place in the world to get a micro-enterprise off the ground, mainly because of the costs involved.

To start a business in Angola costs over $6,000 - six times the gross national product per capita. There are also 14 procedures to go through before you can get down to the nitty gritty.