Caribbean small states - Ease of doing business

New business density (new registrations per 1,000 people ages 15-64)

New business density (new registrations per 1,000 people ages 15-64) in Caribbean small states was 2.72 as of 2020. Its highest value over the past 14 years was 2.79 in 2019, while its lowest value was 1.60 in 2009.

Definition: New businesses registered are the number of new limited liability corporations registered in the calendar year.

Source: World Bank's Entrepreneurship Survey and database (http://www.doingbusiness.org/data/exploretopics/entrepreneurship).

See also:

Year Value
2006 1.82
2007 2.00
2008 1.95
2009 1.60
2010 1.76
2011 1.97
2012 1.90
2013 2.07
2014 2.05
2015 2.39
2016 2.33
2017 2.36
2018 2.53
2019 2.79
2020 2.72

Time to obtain an electrical connection (days)

Definition: The average wait, in days, experienced to obtain an electrical connection from the day an establishment applies for it to the day it receives the service.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2020 262.30

Power outages in firms in a typical month (number)

Definition: Power outages are the average number of power outages that establishments experience in a typical month.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2020 2.80

Firms experiencing electrical outages (% of firms)

Definition: Percent of firms experiencing electrical outages during the previous fiscal year.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2020 86.00

Time required to get electricity (days)

The value for Time required to get electricity (days) in Caribbean small states was 61.00 as of 2019. As the graph below shows, over the past 10 years this indicator reached a maximum value of 64.54 in 2014 and a minimum value of 61.00 in 2019.

Definition: Time required to get electricity is the number of days to obtain a permanent electricity connection. The measure captures the median duration that the electricity utility and experts indicate is necessary in practice, rather than required by law, to complete a procedure.

Source: World Bank, Doing Business project (http://www.doingbusiness.org/).

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Year Value
2009 63.83
2010 62.58
2011 64.54
2012 64.54
2013 64.54
2014 64.54
2015 62.23
2016 62.23
2017 62.23
2018 62.23
2019 61.00

Firms that do not report all sales for tax purposes (% of firms)

Definition: Firms that do not report all sales for tax purposes are the percentage of firms that expressed that a typical firm reports less than 100 percent of sales for tax purposes; such firms are termed "informal firms."

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2004 74.36
2005 28.77

Firms visited or required meetings with tax officials (% of firms)

Definition: Percent of firms that were visited or required to meet with tax officials.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2020 24.30

Firms that spend on R&D (% of firms)

Definition: Percent of firms that spend on research and development.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2020 19.70

Firms experiencing losses due to theft and vandalism (% of firms)

Definition: Percent of firms experiencing losses due to theft, robbery, vandalism or arson that occurred on the establishment's premises.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2020 34.40

Firms expected to give gifts in meetings with tax officials (% of firms)

Definition: Firms expected to give gifts in meetings with tax officials is the percentage of firms that answered positively to the question "was a gift or informal payment expected or requested during a meeting with tax officials?"

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2020 7.70

Labor tax and contributions (% of commercial profits)

Labor tax and contributions (% of commercial profits) in Caribbean small states was 8.05 as of 2019. Its highest value over the past 14 years was 8.05 in 2019, while its lowest value was 7.12 in 2007.

Definition: Labor tax and contributions is the amount of taxes and mandatory contributions on labor paid by the business.

Source: World Bank, Doing Business project (http://www.doingbusiness.org/).

See also:

Year Value
2005 7.35
2006 7.35
2007 7.12
2008 7.12
2009 7.22
2010 7.22
2011 7.76
2012 7.72
2013 7.52
2014 7.68
2015 7.83
2016 7.83
2017 7.90
2018 7.99
2019 8.05

Other taxes payable by businesses (% of commercial profits)

Other taxes payable by businesses (% of commercial profits) in Caribbean small states was 6.57 as of 2019. Its highest value over the past 14 years was 7.74 in 2007, while its lowest value was 4.93 in 2005.

Definition: Other taxes payable by businesses include the amounts paid for property taxes, turnover taxes, and other small taxes such as municipal fees and vehicle and fuel taxes.

Source: World Bank, Doing Business project (http://www.doingbusiness.org/).

See also:

Year Value
2005 4.93
2006 4.93
2007 7.74
2008 7.61
2009 7.61
2010 7.51
2011 6.73
2012 6.75
2013 6.91
2014 6.45
2015 5.93
2016 5.84
2017 6.28
2018 6.40
2019 6.57

Profit tax (% of commercial profits)

Profit tax (% of commercial profits) in Caribbean small states was 22.24 as of 2019. Its highest value over the past 14 years was 29.14 in 2005, while its lowest value was 22.24 in 2019.

Definition: Profit tax is the amount of taxes on profits paid by the business.

Source: World Bank, Doing Business project (http://www.doingbusiness.org/).

See also:

Year Value
2005 29.14
2006 28.63
2007 25.78
2008 25.68
2009 25.04
2010 24.71
2011 24.22
2012 24.18
2013 24.04
2014 23.31
2015 22.77
2016 22.55
2017 22.27
2018 22.36
2019 22.24

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Business environment