IFC, World Bank Report Ranks 183 Countries on Ease of Doing Business
The International Finance Corporation and the World Bank have issued their eighth annual report, Doing Business 2011, which provides rankings on the ease of doing business in 183 countries based on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with business regulations.
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85 Percent of World's Economies Made it Easier for Entrepreneurs to Operate
“Doing Business” measures and tracks changes in regulations applying to domestic, primarily smaller companies, through their life cycle, from start-up to closing. According to the report, between June 2009 and May 2010, governments in 117 economies implemented 216 business regulation reforms making it easier to start and operate a business, strengthening transparency and property rights and improving the efficiency of commercial dispute resolution and bankruptcy procedures. More than half the regulatory changes recorded in the past year eased business start-up, trade, and the payment of taxes, and many of the improvements involve new technologies.
Singapore Ranks Top in Ease of Doing Business, U.S. Ranks 5th
The report states that globally, doing business remains easiest in Organization for Economic Cooperation and Development (OECD) high-income economies. For the fifth year running, Singapore leads in the rankings1 of the ease of doing business, followed by Hong Kong SAR China, New Zealand, the United Kingdom, and the U.S.
Kazakhstan Is Most Improved, China and India Also Improving
Kazakhstan improved business regulation the most among the world's economies by improving protection of investors, trading across borders and conditions for starting a business, moving up 15 places in the rankings to 59 among the 183 economies. China and India are among the top 40 most-improved economies.
Sub-Saharan Africa, South Asia Countries Most Difficult to do Business
In Sub-Saharan Africa and South Asia entrepreneurs have it hardest and property protections are weakest across the areas of business regulation included in this report's ranking. However, one-third of the top 30 most-improved economies are from Sub-Saharan Africa.
1Areas of business regulation included in this report's rankings on the ease of doing business include: starting a business, dealing with construction permits, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, and closing a business.