Entrepreneurship around the World—Before, During, and After the Crisis
This SmartLesson paper focuses on the 2014 World Bank Entrepreneurship Database that provides a unique indicator of new business registration, allowing the measurement of entrepreneurial activity across economies and over time. The most recent data show that by 2012, only 56 percent of economies around the world had reached the level of new firm creation that they had achieved before the global financial crisis. Read more »
Establishing a Sound Credit Reporting System: Perspective from Doing Business
This SmartLesson paper focuses on the Doing Business Getting Credit – Credit Information index, which measures rules and practices affecting the coverage, scope, and accessibility of credit information available through a credit bureau or registry. Thirty-five of the 189 economies measured by Doing Business do not have an entity that manages database on the creditworthiness of borrowers in the financial system. Read more »
Implementing electronic tax filing and payments in Malaysia
Taxation is essential for sustainable economic development, and tax administration is a basic function of a successful state. Taxation also helps make a government accountable to its citizens. When governments spend taxpayers’ money, they are more accountable to make budget decisions transparent and accessible. By 2012, 76 of the economies measured by Doing Business had implemented electronic tax filing and payment systems. Read more »
Implementing trade single windows in Singapore, Colombia and Azerbaijan
An economy’s competitiveness is driven by many factors, including how quickly, reliably and cost-effectively the private sector can trade goods. Today’s manufacturers and agricultural producers operate in a global supply chain. Thus an efficient international trade system can increase economic opportunities and improve livelihoods—especially in poor economies with small domestic markets. Read more »
Improving court efficiency: the Republic of Korea’s e-court experience
Fair, speedy trials are essential for small enterprises embroiled in disputes. If business disputes take months or even years for courts to resolve, small firms might not have the financial strength to stay in business that long, regardless of trial outcomes. Though small and medium-size enterprises usually try to avoid going to trial, effective contract enforcement systems matter for them. Efficient courts and enforcement reduce informality, improve access to credit and increase trade. Read more »
Tackling high electricity connection costs: Trinidad and Tobago’s new approach
Access to electricity is essential for firms. Yet many entrepreneurs around the world struggle with high costs to connect to electricity grids. In 2013 the cost to connect a single warehouse to a power supply ranged from an average of $19,112 in South Asia to $38,500 in Sub-Saharan Africa. Globally the average was $29,134.
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What role should risk-based inspections play in construction?
Construction accounts for a large share of GDP in most economies and is often used by governments to stimulate economic activity because of its benefits for people across socioeconomic strata. There has been growing consensus in the construction industry on the need for supervisory bodies to consider the potential risks imposed by a building, rather than applying the same inspections standards to all buildings, however introducing risk-based inspections is challenging. Read more »
Why are minimum capital requirements a concern for entrepreneurs?
Minimum capital requirements significantly slow entrepreneurship. Such requirements also fail to serve their intended purpose of protecting consumers and creditors from hastily established and potentially insolvent firms. Read more »