Summary of Doing Business 2014

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Doing Business 2014 summary
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In this 11th edition of its annual review, the World Bank assesses the rules and regulations for starting, running and shutting down a business in 189 of the world’s economies. Researchers collected, examined and compared data on 11 aspects of small and medium-sized businesses around the world to gauge the level, scope and effectiveness of regulation. They sought to determine what guidelines contribute to a flourishing business environment and where reforms could improve an economy. The report is a treasure trove of data and statistics accompanied by a clear and concise narrative that is valuable to users at all levels of expertise – from those attempting first-time start-ups to seasoned professionals working on serial enterprises. Worldwide, small and medium-sized businesses drive economic growth, so getAbstract recommends this comprehensive, significant overview of business regulation to policy makers, business executives, global entrepreneurs, and owners of businesses great and small.

About the Author

Owned by its member countries, the World Bank is a global financial institution that provides funding for capital investments in the developing world.



The Rules

Businesses worldwide must deal with regulations that govern every enterprise activity, from starting a new firm to getting financing to paying taxes. Companies must maneuver through rules that, at their best, smooth the way for businesses to compete fairly or, at their worst, obstruct activity by requiring needless, tedious steps. Regulation is necessary to safeguard businesses, consumers and the public, but bureaucracy and excessive rules cost firms money and time. Those costs can hobble a nation’s economy and make achieving prosperity harder for everyone.

On average, setting up a new enterprise in one of the 189 world economies studied takes “seven procedures, 25 days and costs 32% of income per capita in fees.” Requirements range from New Zealand’s one-half-day single procedure for starting a business to Suriname’s 208-day process. Filing taxes eats up an average of 268 work hours; an export requires “six documents, 22 days and more than $1,500.” Creating a storage facility – purchasing and registering the property, constructing the building and connecting utilities – means 26 separate regulatory actions that take 331 days to accomplish. Any legal problems...

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