The Santo Domingo Chamber of Commerce has told Diario Libre that 10,530 companies were registered in 2013, which is 27.45% more than in 2012, when 8,262 companies went legit. Taxation, red tape and high labor costs have kept many would-be companies informal, but government procurement contracts seem to be encouraging more companies to formalize their status, reports the article. He says that the government awarded more than RD$65 billion in contracts, of which small business received RD$41 billion last year, according to Yokasta Guzman, director of Government Procurement. She reported that 18,000 new companies registered to sell to the government in 2013. <\/p>\n
Fernando Ferran, vice president of the Santo Domingo Chamber of Commerce, says that 60-65% of the new companies will not make it past the first year. <\/p>\n
Ferran says that the modalities for company formation chosen were:<\/p>\n
* Sociedades Anonimas Simplificadas (SAS): 90<\/p>\n
* Sociedades de Responsabilidad Limitada (SRL): 9,383<\/p>\n
* Empresas Individuales con Responsabilidad Limitada (EIRL): 494<\/p>\n
* Sociedades Anonimas (SA) 54<\/p>\n
* Sociedades en Nombre Colectivo 1<\/p>\n
* Sociedades Extranjeras 366. <\/p>\n
He said even more companies would be formalized in 2014 with the start of operation of the single window initiative (Ventanilla Unica) that cuts red tape. <\/p>\n
www.diariolibre.com\/empresas\/2014\/01\/07\/i427721_2013-constituyeron-530-empresas-que-2012.html<\/p>\n","protected":false},"excerpt":{"rendered":"
The Santo Domingo Chamber of Commerce has told Diario Libre that 10,530 companies were registered in 2013, which is 27.45% more than in 2012, when 8,262 companies went legit. Taxation, red tape and high labor costs have kept many would-be companies informal, but government procurement contracts seem to be encouraging more companies to formalize their … <\/p>\n