By World Bank
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Extra resources for Doing Business 2011: Making a Difference for Entrepreneurs - European Union (EU) 57940
Sample text
2 Region Average Time to Enforce a Contract (days) 35 A robust bankruptcy system functions as a filter, ensuring the survival of economically efficient companies and reallocating the resources of inefficient ones. Fast and cheap insolvency proceedings result in businesses’ speedy return to normal operation and increase returns to creditors. By improving the expectations of creditors and debtors about the outcome of insolvency proceedings, well -functioning insolvency systems can facilitate access to finance, save more viable businesses, and thereby improve growth and sustainability in the economy overall.
43 Slovenia made starting a business easier through improvements to its one-stop shop that allowed more online services. Greater computerization in Slovenia’s land registry reduced delays in property registration by 75%. Slovenia abolished its payroll tax and reduced its corporate income tax rate. Spain streamlined the documentation for imports by including tax-related information on its single administrative document. Spain amended its regulations governing insolvency proceedings with the aim of reducing the cost and time.
The economy with the least time to import is included as a benchmark. Cost to import (US$ per container) This graph compares the costs for an entrepreneur to import. * The economy with the lowest cost to import is included as a benchmark. 3 Region Average Time to Import (days) 31 Well functioning courts help businesses expand their network and markets. Where contract enforcement is efficient, firms have greater access to credit and are more likely to engage with new borrowers or customers. Doing Business measures the efficiency of the judicial system in resolving a commercial sale dispute before local courts.