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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

 Panama (7)
 Chile (10)
 Argentina (15)
 Guatemala (15)
 Colombia (14)
 Uruguay (11)
 Nicaragua (9)
 Mexico (8)
 Bolivia (15)
 Honduras (13)
 Latin America (12)
 Paraguay (17)
 Costa Rica (11)
Dominican Rep. (10)
 Ecuador (14)
 Peru (10)
 El Salvador (12)
 Venezuela (13)
 Brazil (17)

(#) number of procedures

SOURCE: World Bank

Note: Table made from line graph.
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Title Annotation:Radar; business startup
Publication:Latin Trade
Article Type:Brief Article
Geographic Code:0LATI
Date:Dec 1, 2004
Words:140
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