Doing Business 2011: Making a Difference for Entrepreneurs - by World Bank

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5% to 11%. The introduction of an electronic customs system in Brunei Darussalam made trading easier. Canada harmonized the Ontario and federal tax returns and reduced the corporate and employee tax rates. Canada increased the efficiency of the courts by expanding electronic document submission and streamlining procedures. Chile made business start-up easier by introducing an online system for registration and for filing the request for publication. An amendment to Chile’s securities law strengthened investor protections by requiring greater corporate disclosure and regulating the approval of transactions between interested parties.

Colombia, Kuwait, and Norway also have the lowest costs to go through an insolvency process. 37 Recovery rate (cents on the dollar) This graph compares the recovery rate after an insolvency process. * The economy with the highest recovery rate is included as a benchmark. 0 Average Time to Close a Business (years) 39 The 5 year measure of cumulative change illustrates how the business regulatory environment has changed in 174 economies from Doing Business 2006 to Doing Business 2011. Instead of highlighting which countries currently have the most business friendly environment, this new approach shows the extent to which an economy’s regulatory environment for business has changed compared with 5 years ago.

Where contract enforcement is efficient, firms have greater access to credit and are more likely to engage with new borrowers or customers. Doing Business measures the efficiency of the judicial system in resolving a commercial sale dispute before local courts. Following the step-by-step evolution of a standardized case study, data relating to the time, cost and procedural complexity of resolving a commercial lawsuit are collected through study of the codes of civil procedure and other court regulations, as well as through surveys completed by local litigation lawyers (and, in a quarter of the countries, by judges as well).

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