The company must be one of the types legally accepted in Benin. The administrative process for establishing a company generally requires authorization by a ministry, the Ministry of Industry, for example, when operating an industrial plant. It is recommended that the establishing company contact the appropriate ministry for more information on drafting documents. Some industrial firms may benefit from preferential schemes detailed in the Investment Code, through the Technical Investment Commission of the Ministry of Planning. Although many office equipment stores maintain small inventories, they will promptly make new orders to respond to customers.
Traders proceed with orders and replenishment of stocks according to their specific cases.
Cash transactions are predominant in the informal sector. In official establishments, payments made between 30 and 90 days after reception of invoice are possible. Letters of credit are also used. Credit cards are seldom accepted by retail establishments of any kind. The use of personal checks, although growing, are not widely used.