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11.01.2010 Business & Finance

Kumasi registers 500 businesses a month

By Kofi Adu Domfeh
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An average of 500 businesses is registered each month in Kumasi, according to officials at the Registrar General's Department.

Majority of applicants register business names, whilst others are companies and companies limited by guarantees. Few external firms however register at the Kumasi which opened about two years ago.

Principal State Attorney, Nana Ama Achiaa Prempeh, tells Luv Fm the quest to access micro-credit has necessitated many businesses to legalize their operations.

She says though the numbers are encouraging, there are lot more business entities yet to be captured in the Registrar General's books.

Nana Prempeh observed a misconception in the registration business operations with revenue collection agencies or local government authorities. “There is a little confusion there, in the sense that when people register with the KMA or IRS, they assume they've registered with the government. But your company needs to be registered in order to operate and it is in your interest to be legally established”, she noted.

Nana Prempeh cautioned the business public in Kumasiagainst activities of individuals and groups at the Ministries who pose as agents of the department.

She says only the Postal Company and Barclays Bank have authorization to receive applications on its behalf.

Meanwhile, Nana Achiaa Prempeh is hopeful the computerization of the Registrar General's Department in Kumasi would to be completed in the course of this year, to ease the process of business registration.

The exercise forms part of the Department's reform process, which includes setting up offices in all regional and district capitals for easy accessibility. The objective is to ensure majority of businesses in the country are legally established.

The Principal State Attorney tells Luv Fm arrangements are far advanced to ensure business registration in Kumasi takes not more than five days.

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