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How bureaucracy negatively affects business?

The World Bank places Brazil in 175th place when ranking most and least efficient countries to start a business. Bureaucracy costs the country some US$ 20 billion every year

Starting a business takes time and effort. In some countries, however, it takes a lot more time and effort than in others. Since 2003, the World Bank has ranked countries from most efficient to least efficient in this process. The most recent assessment lists 190 nations and shows New Zealand as the most efficient, and Equatorial Guinea as the least. Brazil, specifically, ranks in 175th place. In that country, it takes 79,5 days to start a business. But there is hope for Brazilians: in São Paulo, the country’s largest city, digitization has reduced this time to less than a week.

Sources:

World Bank Group
Instituto Brasileiro de Planejamento e Tributação
Prefeitura de São Paulo

Content published in August 8, 2018

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