2017年-世界发展银行全球_Economy_Profile_of_Barbados_64页_1mb

Summary of Doing Business 2018: Reforming to Create Jobs

Core Content

The Doing Business 2018 report, a flagship initiative by the World Bank Group, evaluates the regulatory environment for businesses in 190 economies. It focuses on improving the ease of doing business by measuring key indicators that affect the operations of small and medium-sized enterprises (SMEs). The report highlights the importance of business regulation reform in fostering job creation and economic growth.

Main Topics Covered

The report covers 11 key indicators, including:

• Starting a business
• Dealing with construction permits
• Getting electricity
• Registering property
• Getting credit
• Protecting minority investors
• Paying taxes
• Trading across borders
• Enforcing contracts
• Resolving insolvency
• Labor market regulation

Key Indicators and Data Overview

Distance to Frontier (DTF)

The DTF score measures how close an economy is to the best practices observed across all economies. For Barbados:

• Starting a Business DTF: 7.6%
• Dealing with Construction Permits DTF: 0.2% of warehouse value
• Building Quality Control Index: 6.5 (out of 15)

Ease of Doing Business Ranking

Barbados ranked 148th out of 190 economies for the ease of starting a business and 151st for dealing with construction permits. These rankings are based on the DTF scores, which reflect the average of the component indicators.

Main Views and Insights

1. Starting a Business in Barbados:

   • The process involves 8 procedures for both men and women.
   • The total time required is 15 days, with no cost for the registration itself.
   • The registration fee is BBD 750, and income tax registration is BBD 1,500.
   • The company seal is required and costs BBD 60.
   • The paid-in minimum capital is BBD 0, which is significantly lower than the average in other regions.

2. Dealing with Construction Permits in Barbados:

   • The process involves 9 procedures and takes 442 days.
   • The cost is 0.2% of the warehouse value (BBD 2,094 for the first procedure).
   • The building quality control index is 6.5, indicating moderate quality in regulations and safety mechanisms.
   • Land development permission is the most time-consuming procedure, taking 270 days.
   • Inspections are conducted at the end of the construction process, but not during.

Key Information on Procedures

• Starting a Business:

  • Procedure 1: Submit request for company name search and reservation (2 days, BBD 30)
  • Procedure 2: Draft articles of incorporation (2 days, BBD 1,500)
  • Procedure 3: Submit application for business registration (7 days, no charge)
  • Procedure 4: Pay registration fees (1 day, BBD 750)
  • Procedure 5: Register for income tax payment (2 days, no charge)
  • Procedure 6: Register with VAT division (2 days, no charge)
  • Procedure 7: Register with the National Insurance Scheme (2 days, no charge)
  • Procedure 8: Make company seal (1 day, BBD 60)

• Dealing with Construction Permits:

  • Procedure 1: Request develop land permission (270 days, BBD 2,094)
  • Procedure 2: Submit letter on commencement of construction (1 day, BBD 100)
  • Procedure 3: Request and receive first inspection (14 days, BBD 100)
  • Procedure 4: Request certificate of compliance (1 day, BBD 150)
  • Procedure 5: Request and receive final inspection (14 days, no charge)
  • Procedure 6: Receive certificate of compliance (114 days, no charge)
  • Procedure 7: Request water and sewage connection (1 day, BBD 50)
  • Procedure 8: Receive water and sewage inspection (1 day, no charge)
  • Procedure 9: Obtain water and sewage connection (26 days, no charge)

Additional Notes

• The distance to frontier score for Barbados is based on the average of all component indicators.
• The ease of doing business ranking is derived from the DTF score.
• The data collection for this report was completed in June 2017.
• The report is designed to encourage reform and provide measurable benchmarks for improvement in the regulatory environment.