Friday, November 2, 2018

Bahamas behind in business start time

 World Bank report shows numerous regional counterparts ahead

 The World Bank Group headquarters in Washington, D.C. WORLDBANK.ORG 

It takes on average 21 days to start a business in The Bahamas and costs approximately $3,300, according to The World Bank’s Ease of Doing Business Index.

Although that time frame is better than the average time to start a business in Latin America and The Caribbean, which is 28 days, it is far longer than the nine days it takes on average to start a business in high-income Organisation of Economic and Cooperative Development (OECD) countries.

“The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments,” the World Bank explained of its methodology.  Read more >>