By Adina Moloman
Source: Doing Business 2011: Making a Difference for Entrepreneurs (The World Bank report)
The World Bank’s Doing Business 2011 report, rates 183 countries on the ease in which they allow firms to operate, based on criteria such as how easy it is to start a business or get credit. The Asian countries are on the top; more specifically Singapore remains the best country in which to run a business.
In Latin America, Mexico resulted to be the best place to run a business.
The report studies nine main criteria: starting a business, dealing with construction permits, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and closing a business.
Most of the topics examine the steps, time, cost, and number of procedures required.
Mexico is ranked 67 overall for starting a Business. More detailed, it requires 6 procedures, takes 9 days, and costs 12.35 % GNI per capita to start a business in Mexico.
Mexico seemed to be very well ranked when it comes to Dealing with Construction Permits, reached the 22nd place overall and 23 overall for closing a business. It requires 11 procedures, takes 105 days, and costs 117.05% GNI per capita to build a warehouse in Mexico.
When it comes to Registering Property is not reaching an advantaging place-105 overall and also when it comes to Paying taxes regulations: Mexico is ranked 107 for paying taxes. The steps to Registering property in Mexico: it requires 5 procedures, takes 74 days, costs 5.22% of property value to register the property in Mexico.
Mexico is ranked quite good, 46 overall for getting credit, 44 overall for protecting investors, 58 overall for trading across border.
Enforcing contracts regulations: Mexico is ranked 81 overall.
In the end of the report it is a summary of changes to business regulation ( top 10 most improved economies over the past years) and Mexico is one of them mostly because the necessity of a good functioning of Mexico Manufacturing system: Mexico launched on online one-stop shop for initiating business registration, improved construction permitting ;the administrative burden was reduced slightly with more options for online payment and increased use of accounting software.