Are you scared about starting a new Business in your country or in a foreign country? You can start business in US, Australia or anywhere in the world. But do you know the government procedures, cost and minimum capital required to start a business else where.
The World Bank Group – “The Doing Business report” investigates the scope and manner of regulations that enhance business activity and those that constrain it. The report covers 175 economies in the World. Singapore is in first Place and Congo is in 175th position in easy of doing business. The Doing Business indicators are comparable across 175 economies.
Easy of Business in India and USA
You know, in India it takes 11 government procedures, 35 days and 73.7% of annual income per capita in fees to open a new business.
Of the 12 major Indian cities covered by the report, Hyderabad has the most business-friendly regulations, followed by Bangalore and Jaipur. In USA it takes 5 procedures, 5 days and 0.7% of annual income per capita in fees to open a business.
Which indicators make up the ranking these rankings?
Starting a business
Procedures, time, cost and paid-in minimum capital to open a new business
Dealing with licenses
Procedures, time and cost of business inspections and licensing (construction industry)
Procedures time and cost to register commercial real estate
Number of tax payments, time to prepare tax returns and total taxes as a share of commercial profits
For complete list of 175 economies and its Ease of Doing Business visit doingbusiness.org