The widely anticipated improved ranking of Rwanda in the Doing Business Index has come to pass in a manner that will shock the international community and perhaps draw more investor attention towards Rwanda.
The widely anticipated improved ranking of Rwanda in the Doing Business Index has come to pass in a manner that will shock the international community and perhaps draw more investor attention towards Rwanda.
This combined with the general progressive image that Rwanda has managed to divert in its direction in recent years will most probably result in a jump in Foreign Direct Investment (FDI) into the country which is a very good thing.
However for ordinary Rwandan citizens this report can only begin to make sense if the improvement in the business environment or the ease in doing business results into a few more coins or notes into their pockets.
Foreign Direct Investment will result into an increase in the country’s foreign reserves, more job opportunities for locals, attraction of qualified labour to the economy among other things.
However, the best way in which Rwandans can reap directly from the unprecedented improvement in doing business especially at a time when the world is battling a recession, is to delve into entrepreneurship itself.
The reduction of Red-tape bureaucracy in business registration for example has revolutionised the notion that registering a business is a complicated legal affair best left to lawyers or professional registration sharks that charge exorbitantly and know their way around the backbreaking procedures in the relevant offices.
Away from the complicated details of business reform, today anyone with a big dream to succeed in business only needs a few basic requirements and, the mental will to spend a few minutes at business registration office at the Rwanda Development Board (RDB) premises to get his dream off the ground.
Unlike anywhere else in the East African region or the world, the ease of doing business has demystified the idea that registering a business is a matter for the rich and influential.
Therefore, through entrepreneurship, Rwandans can take advantage of this opportunity not only to join the Class of proud business owners but ready to work their socks off to reap the benefits of an improving international appreciation of Rwanda.
In the world today, people, business and organizations will be more open to working or procuring for that matter from Rwandan businesses because like everyone else, people want to be associated or seen to be participating in a unique success story.
Companies in the western world for example are required to raise their local profiles in their respective nations.
This they do by making business partnerships with Rwanda businesses, not only to be seen as working with the fastest improving business environment in the world, but also to reap the benefits that come with investing in an investor friendly country as well as for their own Corporate Social Responsibility programs.
It does not have to be as complicated as the establishment of Call Centers in order to run outsourcing businesses for foreign companies at a cheaper and more effective cost.
However, this can be as simple as making environmentally friendly seasonal cards from recycled paper just as Cards From Africa, which is now a local award winning project-cum-small business has proved to be.
With entrepreneurship, Rwandans can have a bigger cake from this innovative push by the government to reduce bottlenecks for investors.
It now falls to the Rwanda Development Board to find more innovative ways to make it clear to Rwandan citizens that the country is open for business.
And that this is for anyone who has the guts and ambition to make it happen as they set up a more rural friendly approach towards assisting people to change entrepreneurial ideas from simple ideas to real small businesses.