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General Questions
Economies need to be rich to have a strong business environment.
Correct! This is FALSE. B-READY shows that economies of all income levels can have strong business environment.
Incorrect! This is FALSE. B-READY shows that economies of all income levels can have strong business environment.
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General Questions
Most economies have room to improve across all B-READY topics.
Correct! This is TRUE. No economy scores the maximum in any topic. There is a large diversity across economies in adopting and implementing good practices, showing potential for improvement in all areas.
Incorrect! This is TRUE. No economy scores the maximum in any topic. There is a large diversity across economies in adopting and implementing good practices, showing potential for improvement in all areas.
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General Questions
The amount and quality of public services provided by governments are similar across economies.
Correct! This is FALSE. Public services vary greatly between economies, indicating different levels of government support for businesses to grow and expand.
Incorrect! This is FALSE. Public services vary greatly between economies, indicating different levels of government support for businesses to grow and expand.
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General Questions
Economies are better at enacting regulations than providing public services.
Correct! This is TRUE. Nearly all economies score higher in regulatory frameworks than in public services.
Incorrect! This is TRUE. Nearly all economies score higher in regulatory frameworks than in public services.
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General Questions
Economies with favorable business environment in one topic tend to perform well in others.
Correct! This is TRUE. Economies that do well in one area of the business environment usually perform well in other areas too. Conversely, poor performance in one area often means poor performance in others.
Incorrect! This is TRUE. Economies that do well in one area of the business environment usually perform well in other areas too. Conversely, poor performance in one area often means poor performance in others.
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Business Entry Questions
Robust environments for starting up a company only exist in high-income economies.
Correct! This is FALSE. Many low- and middle-income economies show high scores on Business Entry. A robust environment for establishing firms can exist at all income levels.
Incorrect! This is FALSE. Many low- and middle-income economies show high scores on Business Entry. A robust environment for establishing firms can exist at all income levels.
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Business Entry Questions
On average, it takes more time to incorporate a foreign firm than a domestic firm.
Correct! This is TRUE. Incorporating a firm with foreign ownership takes, on average, 7.47 days longer than incorporating a firm with domestic ownership (considering the sample of surveyed economies).
Incorrect! This is TRUE. Incorporating a firm with foreign ownership takes, on average, 7.47 days longer than incorporating a firm with domestic ownership (considering the sample of surveyed economies).
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Business Entry Questions
None of the covered economies shows a weak performance in the business entry regulations.
Correct! This is TRUE. For Business Entry, within the subset of economies assessed, no economy presents a weak performance in the Regulatory Framework pillar (Pillar I). All B-READY 2024 economies have regulatory framework that aligns closely with international good practices and facilitates entrepreneurial activity by minimizing unnecessary restrictions.
Incorrect! This is TRUE. For Business Entry, within the subset of economies assessed, no economy presents a weak performance in the Regulatory Framework pillar (Pillar I). All B-READY 2024 economies have regulatory framework that aligns closely with international good practices and facilitates entrepreneurial activity by minimizing unnecessary restrictions.
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Business Entry Questions
Economies tend to perform worse on Business Entry than on other B-READY topics.
Correct! This is FALSE. Business Entry has the highest average score (67 points out of 100) across all topics.
Incorrect! This is FALSE. Business Entry has the highest average score (67 points out of 100) across all topics.
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Business Entry Questions
Most economies lack legislation on beneficial ownership requirements.
Correct! This is FALSE. Most of the economies surveyed already adopted beneficial ownership legislation. Beneficial ownership requirements are a new area covered and measured by the Business Entry topic. Mandatory beneficial ownership requirements are good practice that can help prevent the misuse of corporate vehicles for illicit purposes and promote a safe environment for business start-ups.
Incorrect! This is FALSE. Most of the economies surveyed already adopted beneficial ownership legislation. Beneficial ownership requirements are a new area covered and measured by the Business Entry topic. Mandatory beneficial ownership requirements are good practice that can help prevent the misuse of corporate vehicles for illicit purposes and promote a safe environment for business start-ups.
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Business Location Questions
In most B-READY 2024 economies, formal review of building includes verification of compliance with energy-efficiency standards.
Correct! This is FALSE. In only 30% of measured economies, energy efficiency standards are verified as part of the building plans review process.
Incorrect! This is FALSE. In only 30% of measured economies, energy efficiency standards are verified as part of the building plans review process.
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Business Location Questions
Very few economies provide incentives to builders to promote green building standards.
Correct! This is TRUE. Only one in five measured economies offer builders incentives to promote green building standards.
Incorrect! This is TRUE. Only one in five measured economies offer builders incentives to promote green building standards.
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Business Location Questions
In most B-READY 2024 economies, the legal system requires identity verification for each party engaged in a property transaction.
Correct! This is TRUE. In 94% of measured economies, verification of identity of each party engaged in a property transaction is required.
Incorrect! This is TRUE. In 94% of measured economies, verification of identity of each party engaged in a property transaction is required.
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Business Location Questions
In most of B-READY 2024 economies, entrepreneurs can check encumbrances (liens, mortgages, restrictions, charges etc.) in a comprehensive and fully functional electronic database.
Correct! This is FALSE. A fully functional database for checking encumbrances exists in less than half of measured economies.
Incorrect! This is FALSE. A fully functional database for checking encumbrances exists in less than half of measured economies.
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Business Location Questions
Very few B-READY 2024 economies have national or local regulations or standards related to pollution and waste management in construction activities.
Correct! This is FALSE. Almost all measured economies have national or local regulations or standards related to pollution and waste management in construction activities.
Incorrect! This is FALSE. Almost all measured economies have national or local regulations or standards related to pollution and waste management in construction activities.
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Utility Services Questions
Most B-READY 2024 economies provide financial or non-financial incentives for businesses to adopt water-efficient practices.
Correct! This is FALSE. Less than a quarter of covered economies provide incentivize businesses to adopt water-saving solutions.
Incorrect! This is FALSE. Less than a quarter of covered economies provide incentivize businesses to adopt water-saving solutions.
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Utility Services Questions
E-payment for electricity bills is most widespread in high-income economies.
Correct! This is FALSE. Upper-middle-income economies have the highest adoption of e-payments for electricity tariffs, followed by high-income economies.
Incorrect! This is FALSE. Upper-middle-income economies have the highest adoption of e-payments for electricity tariffs, followed by high-income economies.
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Utility Services Questions
Most B-READY 2024 economies do not publish online Key Performance Indicators on the sustainability of electricity supply.
Correct! This is TRUE. In 66% of the economies, Key Performance Indicators for the sustainability of electricity supply are not available online.
Incorrect! This is TRUE. In 66% of the economies, Key Performance Indicators for the sustainability of electricity supply are not available online.
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Utility Services Questions
High-income economies have the highest rate of independent complaint mechanisms for water services.
Correct! This is FALSE. Independent complaint mechanisms for water services are most widespread in the lower-middle income group, followed by high-income economies.
Incorrect! This is FALSE. Independent complaint mechanisms for water services are most widespread in the lower-middle income group, followed by high-income economies.
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Utility Services Questions
Over two-thirds of measured economies do not have standards for digital environmental reporting or disclosure.
Correct! This is TRUE. 70% of economies do not have any reporting or disclosure standards in this aspect.
Incorrect! This is TRUE. 70% of economies do not have any reporting or disclosure standards in this aspect.
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Labor Questions
On average, high-income economies offer the longest periods of paid annual leave.
Correct! This is FALSE. Low-income economies offer the longest periods of paid annual leave, followed by high-income economies.
Incorrect! This is FALSE. Low-income economies offer the longest periods of paid annual leave, followed by high-income economies.
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Labor Questions
Workers in most economies have the right to collective bargaining.
Correct! This is TRUE. 90% of the surveyed economies protect the right to collective bargaining.
Incorrect! This is TRUE. 90% of the surveyed economies protect the right to collective bargaining.
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Labor Questions
All economies have legislation on the workers’ occupational safety and health.
Correct! This is FALSE. Not all economies measured in B-READY 2024 have occupational safety and health legislation for all workers. 7% do not have legislation on this matter.
Incorrect! This is FALSE. Not all economies measured in B-READY 2024 have occupational safety and health legislation for all workers. 7% do not have legislation on this matter.
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Labor Questions
Most of the measured economies have no restriction on the use of fixed-term contracts.
Correct! This is TRUE. 84% of economies have no restrictions on the use of fixed-term contracts for any type of task.
Incorrect! This is TRUE. 84% of economies have no restrictions on the use of fixed-term contracts for any type of task.
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Labor Questions
All economies have a minimum age of admission for employment equal to or above 15 years old.
Correct! This is FALSE. Just 76% of the surveyed economies have a minimum age of admission to work at 15 and above, while 22% of countries have a minimum age for employment below 15, and 2% do not regulate this matter.
Incorrect! This is FALSE. Just 76% of the surveyed economies have a minimum age of admission to work at 15 and above, while 22% of countries have a minimum age for employment below 15, and 2% do not regulate this matter.
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Financial Services Questions
Businesses in high-income economies receive most of their payments through e-payment.
Correct! This is TRUE. More than 75% of payments in high-income economies were received using electronic payment methods.
Incorrect! This is TRUE. More than 75% of payments in high-income economies were received using electronic payment methods.
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Financial Services Questions
Firms in low-income economies are much more likely than firms in high-income economies to report complex procedures as the main reason they do not apply for loans.
Correct! This is TRUE. 15% of firms in low-income economies report complex procedures as the primary reason for not applying for loans, compared to only 2% of firms in high-income economies.
Incorrect! This is TRUE. 15% of firms in low-income economies report complex procedures as the primary reason for not applying for loans, compared to only 2% of firms in high-income economies.
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Financial Services Questions
All payment service providers in B-READY 2024 economies must meet certain cybersecurity requirements.
Correct! This is FALSE. While 91% of surveyed economies have cybersecurity requirements for bank payment service providers, only 76% of them have such requirements for non-bank payment service providers.
Incorrect! This is FALSE. While 91% of surveyed economies have cybersecurity requirements for bank payment service providers, only 76% of them have such requirements for non-bank payment service providers.
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Financial Services Questions
Credit bureaus and registries in high-income economies are more likely to offer credit scores, compared to other income groups.
Correct! This is FALSE. 71% of credit bureaus and registries provide credit scores in low-income economies, compared to only 56% in high-income economies.
Incorrect! This is FALSE. 71% of credit bureaus and registries provide credit scores in low-income economies, compared to only 56% in high-income economies.
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Financial Services Questions
In most B-READY 2024 economies, secured creditors can enforce their security interests through out-of-court procedures.
Correct! This is TRUE. In 90% of the measured economies, regulatory frameworks allow parties in a security interest agreement to bypass the courts and enforce their rights through methods like private sales, public auctions, or pactum commisorium.
Incorrect! This is TRUE. In 90% of the measured economies, regulatory frameworks allow parties in a security interest agreement to bypass the courts and enforce their rights through methods like private sales, public auctions, or pactum commisorium.
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International Trade Questions
A considerable number of the economies surveyed are using cross-border carbon pricing instruments to reduce greenhouse gas emissions and make trade more sustainable.
Correct! This is TRUE. 16 of the 50 covered economies have a cross-border carbon pricing instrument, and it's considered a growing practice.
Incorrect! This is TRUE. 16 of the 50 covered economies have a cross-border carbon pricing instrument, and it's considered a growing practice.
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International Trade Questions
All high-income economies included in B-READY 2024 legally recognize and enforce foreign-issued electronic contracts and signatures.
Correct! This is TRUE. All high-income economies covered by the report enforce the legal validity of foreign issued electronic contracts and signatures. At the same time, only 4 out of 7 low-income economies do so.
Incorrect! This is TRUE. All high-income economies covered by the report enforce the legal validity of foreign issued electronic contracts and signatures. At the same time, only 4 out of 7 low-income economies do so.
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International Trade Questions
Trusted Trader programs are widely used to streamline and simplify border control procedures.
Correct! This is TRUE. 38 of the 50 covered economies have implemented a Trusted Trader program.
Incorrect! This is TRUE. 38 of the 50 covered economies have implemented a Trusted Trader program.
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International Trade Questions
Business transportation is a bigger obstacle for firms than customs and trade regulations.
Correct! This is TRUE. The share of firms that identify customs and trade regulations as a major or severe obstacle to trade is lower than the share of firms that identify transportation as a major or severe obstacle.
Incorrect! This is TRUE. The share of firms that identify customs and trade regulations as a major or severe obstacle to trade is lower than the share of firms that identify transportation as a major or severe obstacle.
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International Trade Questions
The costs to comply with exports and imports requirements are only a small fraction of the value of the goods.
Correct! This is FALSE. In some economies, import compliance costs are as high as 66% of the value of goods and export compliance costs reach 38%.
Incorrect! This is FALSE. In some economies, import compliance costs are as high as 66% of the value of goods and export compliance costs reach 38%.
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Taxation Questions
Most companies file taxes electronically in half of the B-READY 2024 economies.
Correct! This is TRUE. In 25 of the 50 covered economies, 90% or more of surveyed firms reported filing taxes electronically.
Incorrect! This is TRUE. In 25 of the 50 covered economies, 90% or more of surveyed firms reported filing taxes electronically.
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Taxation Questions
Very few of the assessed economies disclose future tax plans.
Correct! This is FALSE. 60% of the measured economies publish online their full future tax plans, including, for example, a multi-year strategic plans, reform plans, or annual operational plans.
Incorrect! This is FALSE. 60% of the measured economies publish online their full future tax plans, including, for example, a multi-year strategic plans, reform plans, or annual operational plans.
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Taxation Questions
One out of four of the measured economies do not have an independent mechanism for reviewing the tax complaints.
Correct! This is TRUE. Over half of the assessed economies allow taxpayers to appeal tax audit results to an independent complaint review body within the tax administration. And another 20% of the economies have an external independent review mechanism instead. In the remaining 25% of measured economies no independent tax review mechanism (internal nor external) is available
Incorrect! This is TRUE. Over half of the assessed economies allow taxpayers to appeal tax audit results to an independent complaint review body within the tax administration. And another 20% of the economies have an external independent review mechanism instead. In the remaining 25% of measured economies no independent tax review mechanism (internal nor external) is available
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Taxation Questions
Most of the measured economies publish all fees and timelines associated with registering for all types of taxes.
Correct! This is FALSE. While almost all economies publish the timeline for all types of tax registration, only one-third of B-READY 2024 economies disclose all tax registration fees (or explicitly mention it when the registration is free of charge).
Incorrect! This is FALSE. While almost all economies publish the timeline for all types of tax registration, only one-third of B-READY 2024 economies disclose all tax registration fees (or explicitly mention it when the registration is free of charge).
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Taxation Questions
In half of B-READY 2024 economies, a tax audit is typically completed within one month.
Correct! This is TRUE. While the typical tax audit time ranges from 1 to 21 weeks, in half of the economies, tax audits are usually completed in 4 weeks or less.
Incorrect! This is TRUE. While the typical tax audit time ranges from 1 to 21 weeks, in half of the economies, tax audits are usually completed in 4 weeks or less.
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Dispute Resolution Questions
About a quarter of B-READY 2024 economies lack legal framework for arbitration.
Correct! This is FALSE. All economies covered by B-READY 2024 have a legal framework for arbitration.
Incorrect! This is FALSE. All economies covered by B-READY 2024 have a legal framework for arbitration.
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Dispute Resolution Questions
In low-income economies, legal systems do not explicitly empower enforcement agents to seize electronic assets, including cryptocurrency.
Correct! This is TRUE. In none of 7 low-income economies covered by B-READY 2024, enforcement agents are explicitly authorized to seize electronic assets, including cryptocurrency.
Incorrect! This is TRUE. In none of 7 low-income economies covered by B-READY 2024, enforcement agents are explicitly authorized to seize electronic assets, including cryptocurrency.
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Dispute Resolution Questions
Virtual hearings are not commonly available.
Correct! This is FALSE. 64% of B-READY 2024 economies offer a possibility to conduct court hearings virtually.
Incorrect! This is FALSE. 64% of B-READY 2024 economies offer a possibility to conduct court hearings virtually.
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Dispute Resolution Questions
Mediation is available for resolving commercial disputes in all economies.
Correct! This is FALSE. In 14% of B-READY 2024 economies, mediation still does not exist in practice.
Incorrect! This is FALSE. In 14% of B-READY 2024 economies, mediation still does not exist in practice.
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Dispute Resolution Questions
It takes more time to resolve a commercial dispute at the first instance level in high-income economies than elsewhere.
Correct! This is TRUE. In high-income economies, it takes almost 600 days to resolve a commercial dispute at the first instance level. This time is lower in all other income groups.
Incorrect! This is TRUE. In high-income economies, it takes almost 600 days to resolve a commercial dispute at the first instance level. This time is lower in all other income groups.
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Market Competition Questions
High-income economies score the highest on Market Competition.
Correct! This is FALSE. Economies of different income levels perform well in Market Competition, including low-income ones.
Incorrect! This is FALSE. Economies of different income levels perform well in Market Competition, including low-income ones.
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Market Competition Questions
Most of the sampled economies have an online platform allowing entrepreneurs to manage their intellectual property rights electronically.
Correct! This is FALSE. Only 38% of economies have an online platform allowing entrepreneurs to e-manage intellectual property rights.
Incorrect! This is FALSE. Only 38% of economies have an online platform allowing entrepreneurs to e-manage intellectual property rights.
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Market Competition Questions
Most economies provide protection for trademarks that have widespread reputation or recognition.
Correct! This is TRUE. 88% of B-READY 2024 economies provide protection for well-known marks.
Incorrect! This is TRUE. 88% of B-READY 2024 economies provide protection for well-known marks.
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Market Competition Questions
More than 80% of economies have rules that say that, by default, government should purchase goods, services, or construction work in a transparent and competitive manner.
Correct! This is TRUE. Most of B-READY 2024 economies expect procuring entities to tender openly by default.
Incorrect! This is TRUE. Most of B-READY 2024 economies expect procuring entities to tender openly by default.
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Market Competition Questions
It is rare for economies to post award decisions about government contracts online.
Correct! This is FALSE. 58% of economies e-publish their award decisions in practice.
Incorrect! This is FALSE. 58% of economies e-publish their award decisions in practice.
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Business Insolvency Questions
Most economies regulate the necessary qualifications of insolvency administrators.
Correct! This is TRUE. In 48 of the 50 B-READY 2024 economies, the legal framework establishes a mechanism for the selection and appointment of an insolvency administrators, while in 49 economies the law sets out the cases in which an insolvency administrator may be disqualified.
Incorrect! This is TRUE. In 48 of the 50 B-READY 2024 economies, the legal framework establishes a mechanism for the selection and appointment of an insolvency administrators, while in 49 economies the law sets out the cases in which an insolvency administrator may be disqualified.
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Business Insolvency Questions
Every B-READY 2024 economy has a practice of judicial liquidation of businesses.
Correct! This is FALSE. Amongst the 50 B-READY economies, 6 do not have a de facto practice in judicial reorganization or judicial liquidation.
Incorrect! This is FALSE. Amongst the 50 B-READY economies, 6 do not have a de facto practice in judicial reorganization or judicial liquidation.
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Business Insolvency Questions
Only a few economies have electronic auctions conducted at the relevant courts.
Correct! This is TRUE. Only a small subset of economies (7 out of 50) conducts electronic auctions at the relevant court, as measured by the Business Insolvency topic.
Incorrect! This is TRUE. Only a small subset of economies (7 out of 50) conducts electronic auctions at the relevant court, as measured by the Business Insolvency topic.
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Business Insolvency Questions
Most economies show strong performance in the public services related to business insolvency.
Correct! This is FALSE. Business Insolvency is characterized by most economies showing weak performance in Public Services. Almost three-quarters of B-READY economies (37 economies) score less than 50 out of 100 on this area.
Incorrect! This is FALSE. Business Insolvency is characterized by most economies showing weak performance in Public Services. Almost three-quarters of B-READY economies (37 economies) score less than 50 out of 100 on this area.
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Business Insolvency Questions
Most economies have courts with specialized expertise in insolvency.
Correct! This is FALSE. Only 44 percent of reviewed economies have courts with specialized expertise in insolvency.
Incorrect! This is FALSE. Only 44 percent of reviewed economies have courts with specialized expertise in insolvency.
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