Due to the pandemic we've been through in the last two years, many people have had to resort to some alternative to support their family. This eventually led people to open companies in their names to trade goods or even issue invoices for services provided to other legal entities.
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Thus, at the end of August, the average time to open a company here in our country dropped significantly to 23 hours. This is a historic milestone, with the lowest average time ever recorded for starting a business in Brazil.
Currently, these numbers represent a drop of 17 hours, approximately 42.5% compared to the end of the first quarter of this year. In April, the average deadline dropped by one day and 17 hours for opening new companies, approximately 64.1% if compared to the end of the second quarter of 2021. Data were collected from the Business Map Panel, released on September 9, by the Special Secretariat for Productivity and Competitiveness (SEPEC) of the Ministry of Economy.
According to the folder, in July this year the average time between company openings had already been reduced to about one day and two hours – a decrease of five hours compared to the previous month, June, when the deadline was one day and seven hours. According to information from the ministry, the bureaucracy is getting smaller when it comes to opening a company, and advancing technology also helps to facilitate the process, making everything simpler and faster.
This drop in the average time needed to start a business is even more significant if you look at it from another angle, where it is analyzed in a historical way.
Related to the beginning of 2019, the drop was very considerable, from four days and ten hours, approximately 82.2%. Or rather, nowadays it is necessary to dedicate less than a fifth of the time to start a company. It is worth remembering that these data refer to the average time of prior feasibility consultation and also the company registration.
The material made available by SEPEC presents a record of 1,379,163 companies that were opened in the second quarter of 2022, a gain of 2% compared to the first four months of the year. The country also ended the month of August with approximately 20,144,767 active companies.
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