Registrar General’s Department records low business registration
The Registrar General’s Department registered 43,206 businesses in 2010 as against 45,776 in 2009, representing a shortfall of 1, 870.
The Department also recorded 2,983 marriages last year as against 3,126 for 2009, showing a drop of 143.
In an interview with the Ghana News Agency in Accra on Wednesday, Mrs Jemima Oware, Chief State Attorney in charge of Reforms at the Department, explained that the high margin recorded in 2009 was due to the Oil and Gas find, which motivated a number of Ghanaians to position themselves to win government contracts in the emerging industry.
Mrs Oware said most people registered sole proprietorship businesses rather than corporate businesses or joint partnership.
She noted that the trend was increasing because Ghanaians were not prepared to take risks by involving strangers in their businesses as required in registering corporate businesses.
Corporate businesses also attract a stamp duty, high registration fees, capital and appointment of board of directors and chartered accountants among other things.
Mrs Oware expressed the need for Ghanaians to venture into corporate businesses since it attracted foreign investors, promoted growth and also attracted more profits than the sole proprietorship.
She observed that a number of the citizenry failed to update records on their businesses or use the proper channels to register them, adding: “Business registrations are supposed to be renewed yearly.”
She warned that failure to do so attracted a penalty.
Mrs Oware said the department had introduced a new system which linked its operations to other revenue agencies to share data and offer common support services.
She said the new system was a way of revamping the department, generating more income and trimming the data base of businesses.
Mrs Oware said the department would embark on a sensitisation programme to enable the public to become aware of the activities of the organisation.
She said the Department was not adequately represented in all the 10 regions due to lack of staff, office space and technical know-how.
The Department currently operates in the Ashanti, Brong Ahafo, Western and Northern Regions.
Source: GNA