Czechia is not a paradise for entrepreneurs, rather the contrary!

Experts from the World Bank evaluated the changes in the business environment in 181 countries from last year to June this year. They were interested in ten key criteria. For example, how much time it takes to start a new business, how many offices one has to visit to obtain a building permit, or how fast a creditor gets to his money.

The view of the overall table is sad. The Czech Republic, whose economy was one of the fastest growing in Europe for the last three years and became a paradise for automotive investors, was ranked among Kazakhstan, Peru, Mongolia and Namibia. Basically, an entrepreneur still needs a lot of stamps to start running a business in the Czech republic.

It is not easy to start a business. According to this criterion, the Czech Republic is only sixty-eight when an entrepreneur has to cope with eight bureaucratic procedures for which he needs on average 15 days.

Czech Republic is among the five countries with the strictest controls of issuance of a building permit. Experts counted 36 bureaucratic procedures, only two more are required in Kazakhstan, thirty one in Hungary. For example, in Austria, just thirteen.

The curse of Czech entrepreneurs remain taxes, mainly paperwork around them. Czech Republic is in the simplicity of the tax system on 117th place. Domestic companies spend on average 930 hours on filling in tax returns and "dancing" tax regulations, while companies, such as in Switzerland only 63 hours. Czech Republic collects also black points for the fact that insolvency proceedings are dragging on average six and a half years, while in Austria 1.1 years.

The World Bank notes that the final ranking "Doing Business" does not fully reflect the complexity about business conditions in a particular country. The study does not include macroeconomic indicators (GDP growth, inflation), maturity infrastructure and qualified workforce.

The Czech Republic ranked 75th, with New Zealand, the USA, Denmark, the United Kingdom, Canada, Australia and Norway in the top ten.