The Ease of Doing Business Rank (EODB) is a measure of an economy’s position to the best regulatory practices. Though World Bank used to publish the ‘Doing Business’ reports from 2003, the ranking of economies started only from 2006.
The EODB study tries to capture the experience of small and mid-sized companies in a country with their regulators, by measuring the time, costs and red tape they deal with. The goal of the World Bank in coming up with Doing Business score every year is to provide an objective basis for understanding and improving the regulatory environment for business around the world.
The Ease of Doing Business Rank is based on 10 parameters relating to starting and doing business in a country
- Ease of starting a business.
- Dealing with construction permits.
- Getting electricity for the same.
- Registering your property.
- Getting credit for your business.
- Protecting minority investors.
- Paying taxes.
- Trading across borders.
- Enforcing contracts.
- Resolving insolvency.
Doing Business Rank attempts to quantitatively capture the regulation that small- and medium-sized firms encounter in 190 countries around the world. EODB rankings are carefully evaluated by foreign investors when they look to start a firm in any country.