Trinidad improves as a place to do business
Trinidad and Tobago has consolidated its position as a place for small and medium-sized enterprises (SMEs) to do business, according to the World Bank’s Doing Business 2013 report released on Oct. 23. The country has climbed one place in the global ranking — to 69 from 70 — out of 185 economies worldwide.
The report singles out the progress Trinidad has made in the ease of registering property and enabling trade across borders. The second indicator measures "procedural requirements for exporting and importing a standardized cargo of goods."
The Doing Business report gauges how easy it is for an SME to operate when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and employing workers.