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Bureaucracy against entrepreneurship |
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| According to an article published in Greek newspaper «Kathimerini» (June 24, 2006) based on European Union data, out of the 15 «old» EU members, Greece ranks 13th based on the length of time it takes to register a new business, currently 38 days. This survey was based on official figures and the real time required is estimated to be even longer. The first place among the 15 countries is held by Belgium where the registration procedure in the set-up of a business may take only 3 days. By simplifying administrative procedures and founding an “electronic counter”, Belgium managed to reduce and attain this number down from 56 days! As a result, the number of new businesses set-up in Belgium in 2005 increased by 30% as compared to 2004. This program could serve as a blueprint for reform in Greece. The bureaucracy entailed in the registration procedure holds back development and discourages investments, either domestic or foreign. |
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