Launched in April 2016 with the support of UNCTAD and the European Union, the system simplifies the business creation process. It has also helped to support entrepreneurship promotion policies. With real time information on business creation, the Ministry of Small and Medium Enterprises (MINPMEESA) and the National Agency for SMEs (APME) can also improve the targeting of their audience.
Who is setting up businesses in Cameroon? After a year in operation, MyBusiness.cm brings precise answers based on information collected from the 11’000 registered enterprises:
- Most of them are individual enterprises (80%)
- Only two thirds request registration in the Trade Register (all file taxes)
- For 80%, forecast annual turnover does not exceed 15 million FCFA (25,000 USD)
- Less than half say they want to hire employees
- The leaders are predominantly Cameroonian (98% for individual enterprises, 92% for companies)
- Individual entrepreneurs are typically between the ages of 30 and 45 (56%, compared with 20% for those aged 21-29)
- The overwhelming majority are men (71%)
This is the first time that the Ministry of SMEs and the National Agency of SMEs have such detailed information on the registration of enterprises in CFCEs (official one-stop shops for business creation). It has enabled them to adjust the services offered to operators.
MyBusiness.cm has been installed at the CFCE in Garoua, Yaoundé and Douala. It covers the North, Central and Littoral regions.