Starting a business is more complex in Bangladesh than South Asian peers: survey

Bangladesh lags behind the South Asian peers in case of the average procedure, time and cost needed to start a business, according to a recent survey.

Business Initiative Leading Development (BUILD) conducted the survey with a support of USAID Feed the Future Bangladesh Improving Trade and Business Enabling Environment Activity.

The findings of the survey—conducted during March-April period of the current year on company registration related stages on the companies and firms registered in the country in the past two years—published today in a programme.

It found that engaging third party or consultants increased overall costs by 43 per cent.

Registration of Registrar of Joint Stock Companies & Firms requires highest 89 per cent third party engagement, which increased cost by 49 per cent.

Trade licence requires 67 per cent third party engagement, which increased cost by 32 per cent.

Manual intervention in preparing documents, consulting with third parties paying bank fees also increased travelling and printing costs, the survey shows.