Business Registration Reform Case Study : Norway
Sustainable economic growth and reduction of poverty require a suitable framework of good governance. A register solution that works efficiently and offers reliable business information is an essential part of such a framework. To ensure efficiency...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/344371542776270745/Norway-Business-Registration-Reform-Case-Study http://hdl.handle.net/10986/31026 |
| Summary: | Sustainable economic growth and
reduction of poverty require a suitable framework of good
governance. A register solution that works efficiently and
offers reliable business information is an essential part of
such a framework. To ensure efficiency and simplification in
business start-ups, a well-functioning register solution has
several beneficial effects. It encourages entrepreneurship,
improves access to loans, generates more jobs, makes it
easier to comply with rules, and reduces administrative
burdens, thus increasing productivity. In a broader
perspective, this helps attract investors, boost the economy
in general, and reduce poverty. Implementation of good
governance has revealed a general need to enhance
transparency and integrity standards in public
administrations and private entities. Availability of
official, high-quality business information is crucial in
this context. By granting the legal identity of a business,
most register solutions go a step further. In doing so, they
increase the predictability of economic interaction and
provide contractual partners with core protection against
abuse. This also reduces the costs of resolving disputes and
leads to greater judicial fairness because of faster
contract enforcement. Moreover, improved transparency
contributes to more effective tracing of financial crime and
therefore constitutes a means to prevent and discourage
financial crime in general. In the Norwegian register
solution, the aim of enhancing transparency is strongly
interlinked with the objective of using public business
information efficiently and reducing reporting obligations
for businesses. Information sharing is an important building
block in this strategy. This case study describes how
reforms aimed at simplifying and streamlining business
registration were implemented in Norway. It is based on desk
research and interviews. |
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