This was unveiled in Dar es Salaam by the BRELA's Assistant Registrar, Mr
"Apart from fulfilling the legal obligations, but it will open an important opportunity of accessing loans from the commercial lenders in order to boost their businesses," he said, adding that, "it currently takes only two hours to have full registered business name."
He said it is common to see on the streets retails shops, saloons, bars and many other small businesses bearing unregistered names. Currently, there are more than 3.5 million SMEs in the country, but not all the names used are registered.
He said currently, the agency was working tirelessly to have the company registration be done online, that will also help to the great extent cut down cost and time.
There were few unsettled matters that are being worked at the ministerial level, which may sooner rather than later be completed.
For example, he said one of the issue that was to be settled regards the mode of effecting payments which is linked with the national payment system to ensure the much needed government revenues are not lost.
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