Everyone wants to be the boss. In some Latin American countries,
however, starting your own business takes time. Brazil requires startup
companies to go through 17 bureaucratic procedures that take an average
of 152 days to process--the worst in Latin America, according to a World
Bank report. Compare that with Panama, where it takes just seven steps
and 19 days. The World Bank said Colombia was the world's
second-best reformer, slashing more bureaucratic hindrances than any
other country in 2004 except for Slovakia.
number of days
Latin America (12)
Costa Rica (11)
Dominican Rep. (10)
El Salvador (12)
(#) number of procedures
SOURCE: World Bank
Note: Table made from line graph.