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Why might red tape be something governments could want to reduce.

Why might red tape be something governments could want to reduce.

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This is the bunch of formalities that has to be fulfilled before starting a specified work.

Suppose there are forms to be filled up in order to get the government registration certificate; this formality is red tape. Now, if such formality is lengthy and time consuming (such as the filling-up so many forms for registration) then this is not at all cost efficient – new firms may not be interested of getting registration for doing business. Huge formalities discourage new business to come; this is the reason why governments of different countries want to reduce red tape and it becomes their political agenda.     

answered by: anonymous
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