Focus on rent-free businesses

In efforts to boost budding entrepreneurs, the Ministry of Industry, Commerce and Tourism plans to promote the concept of virtual commercial registrations (CRs) or ‘Sijili’ for a select-set of business activities. ‘Sijili’ is a commercial registration method that grants an individual the ability to practise certain business activities without having to register an office address. A seminar held at the Swiss-Belhotel in Seef District yesterday highlighted the concept, which is expected to reap huge benefits for budding entrepreneurs.

It was organised by Al Alwane Bahrain Society under the title ‘Virtual Records’, and was attended by representatives from the Ministry of Industry, Commerce and Tourism, Tamkeen Labour Fund and the Bahrain Association for Small and Medium Enterprises. The seminar further aimed at reviewing the reality of virtual registries, the number of beneficiaries so far, their areas of work, and the challenges ahead.

Speaking to Tribune, Chairman of Alwane Bahrain Society Ammar Awachi said, “The society aims to promote budding women entrepreneurs through this initiative.” He said the event comes as part of the initiative to shed light on the benefits of Bahraini women wishing to establish their own project through a virtual commercial registration. “The seminar was attended by a number of economists, business owners and officials and representatives of Small and Medium Enterprises to discuss women’s challenges and how to further optimise their businesses.”

“Virtual commercial registration, which was launched in Bahrain in 2016, has opened wide doors to many women who want to strike a balance between their businesses and household chores. “They need not spend a part of their capital to rent headquarters or on operating expenses.” Sijili lets entrepreneurs engage in 39 commercial areas, which include professional, scientific and technical activities, information and communication activities, educational activities, leisure, entertainment and art activities, personal service activities, administrative and support services activities, simple manufacturing industry and trade activities.

According to official statistics, in the first year, 700 virtual records were issued, and a number of owners of these records have been able to expand their businesses outside Bahrain. “Individuals have already profited from the virtual registry service and have invested in the advantages of this registry, including permitting business without an actually owning offices, flexibility in doing business, giving legal status to entrepreneurs, and the possibility of arranging contracts with companies that require a commercial registration.”