Over 850m/- to be used on business formalisation

 
PROPERTY and Business Formalisation Programme (MKURABITA) is set to run a survey on land resource and business formalisation status in the country that will cost 850m/-.

The idea came after previous research results showed remarkable growth in gross domestic product and at the same time the rise in poverty rate to individuals.

The Programme Chief Executive Officer (CEO), Ms Serapia Mgembe revealed that the latest 2005 findings showed that 89 per cent of land resource and 98 per cent of business were on informal system.

She was speaking during a MKURABITA meeting which brought together stakeholders from various public institutions in Dar es Salaam.

She added that the research activities are set to take-off this month, and that the results will be out in June this year. The study will involve 620 enumeration areas in both Tanzania mainland and Zanzibar.

Previous finding results recorded that most people decided on running their businesses informally due to high expenses and prolonged processes for legal formalisation procedures.

It was further noted that tax payment, licence ownership, business/company registration, type of the business and employees’ contracts were part of the questions posed to traders in the list of research questions

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