Singapore : Business Environment: Business Startup

Singapore : Business Environment: Business Startup
Infographic SummaryWith 1 being the most business friendly and 185 being the least, Singapore ranks 1 in its Ease of doing business index . The Cost of business start-up procedures in Singapore is 0.60 as a % of GNI per capita. On average, according to the worldbank, 8.45 businesses are registered in Singapore per year per 1000 people, placing Singapore as the #13 highest in the world in terms of New business density (new registrations per 1,000 people ages 15-64). A total number of 32,308 businesses are registered in Singapore per year, placing Singapore as the #29 highest in the world in terms of New businesses registered (number). Starting up a business in Singapore requires 3 procedures and takes 3 days to be completed.
Ease of doing business index (1=most business-friendly regulations)Ease of doing business ranks economies from 1 to 185, with first place being the best. A high ranking (a low numerical rank) means that the regulatory environment is conducive to business operation. The index averages the country's percentile rankings on 10 topics covered in the World Bank's Doing Business. The ranking on each topic is the simple average of the percentile rankings on its component indicators.
Cost of business start-up procedures (% of GNI per capita)Cost to register a business is normalized by presenting it as a percentage of gross national income (GNI) per capita.
New business density (new registrations per 1,000 people ages 15-64)New businesses registered are the number of new limited liability corporations registered in the calendar year.
New businesses registered (number)New businesses registered are the number of new limited liability corporations registered in the calendar year.
Start-up procedures to register a business (number)Start-up procedures are those required to start a business, including interactions to obtain necessary permits and licenses and to complete all inscriptions, verifications, and notifications to start operations. Data are for businesses with specific characteristics of ownership, size, and type of production.
Time required to start a business (days)Time required to start a business is the number of calendar days needed to complete the procedures to legally operate a business. If a procedure can be speeded up at additional cost, the fastest procedure, independent of cost, is chosen.
Data Source: Worldbank, World Development Indicators