A World Bank study, which evaluated the ease of doing business in the country, ranks the state in 2nd place in the area of starting a business, with the lowest average time among the states.
The research, consolidated in the Doing Business Subnational Brazil 2021 report, analyzed the regulation of small and medium-sized companies and their activities in the capitals of all states and the Federal District, covering fundamental aspects of entrepreneurship: procedures for opening a business, obtaining construction permits , property registration, payment of taxes and contributions, as well as the time and cost required to execute contracts.
In addition, a pilot study was carried out in five locations in Brazil on the registration of an Individual Microentrepreneur (MEI), the most common business classification in Brazil. Among the regions that were looked at, Minas Gerais is the easiest place to open an MEI, through a single procedure, carried out within a period of up to one day. The state is also the only one that does not require a municipal business license for the establishment.
“This performance represents the commitment of the Minas Gerais Board of Trade (JUCEMG) in promoting a simplified model and interface, with investments in technology and reduction of bureaucracy in the registration processes of business actions, a model replicated in other councils such as JUCISRS and JUCEA” , emphasizes Thomaz Mattos, corporate lawyer at Drummond Advisors.
Indeed, these indicators show the development of a favorable business environment and the strengthening of the state in the economic situation, which holds the third largest Gross Domestic Product (GDP) in Brazil and is home to one of the main centers of the electronics industry in the country.
Written by Thomas Mattos, associate attorney at Drummond Advisors, and Marcella Reis, paralegal at Drummond Advisors