Time required to obtain an operating license (days)

Average wait, in days, experienced to obtain electrical connection from the day this establishment applied for it to the day it received the service.

Percentage of firms formally registered when they started operations in the country.

Average percentage of senior management’s time that is spent in a typical week dealing with requirements imposed by government regulations (eg. Taxes, customs, labor regulations, licensing and registration), including dealings with officials, completing forms, et cetera.

B-READY assesses the economy’s business environment by focusing on the regulatory framework and the provision of related public services for firms and markets, as well as the operational efficiency with which they are combined in practice. B-READY’s three pillars—the Regulatory Framework, Public Services, and Operational Efficiency. Operational Efficiency comprises both the ease of compliance with the regulatory framework and the effective use of public services directly relevant to firms.

B-READY focuses on ten topics that are organized following the life cycle of the firm and its participation in the market while opening, operating (or expanding), and closing (or reorganizing) a business. The Business Entry topic measures the process of registration and start of operations of new limited liability companies (LLCs) across three different dimensions, or pillars. The third pillar measures the time and cost required to register new domestic and foreign firms.

Percentage of firms competing against unregistered or informal firms.