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Ease of doing business in various countries.
Oct 30, 2013

Success of businesses is not dependent upon product innovation or market knowledge alone. There are host of external factors that decide the fate of any business venture. Out of various factors bureaucracy is the single most important factor that can make or break any business. If a great idea finds resistance from bureaucracy than it can fall on its head. In short, external support from government is important for any business. Lower the government interference, greater the independence and better the operating environment.

Today's chart shows ease of doing business in various countries as compiled by World Bank. Singapore leads the ranking amongst 189 odd economies signifying that starting a business in this country is relatively easy. It is the 8th time in a row that Singapore has topped the charts. Singapore is followed by Hong Kong, New Zealand, US and Denmark. The rankings are assigned after taking into consideration various factors like time required to start a business, taxation structure in the country, reform measures undertaken etc.

Not surprisingly India ranks 134th in the list! Rampant corruption, layers of bureaucracy which make approvals process lengthy, red tapism and complex taxation rules has ensured that India slipped in the ranking by two places this year. If the current scenario does not improve we may well see the ranking slip further in coming years.

Data source: World Bank & Live Mint

This Chart Of The Day was published in The 5 Minute WrapUp - What you should learn from successful investors?

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