Business Ready (B-READY) Report 2024:
The World Bank launched the Business Ready (B-READY) report 2024 to replace the Ease of Doing Business report.
- The Ease of Doing Business report was paused in 2020 due to data manipulation issues and concerns over the integrity of certain rankings, leading to an independent review and methodology changes.
- B-READY evaluates the global business climate to promote inclusive private sector growth.
- B-READY is organized around key topics for private sector development, covering the stages of a firm’s life cycle, including market entry, operation (or expansion), and closure (or reorganization).
- Ten Core topics covers Business Entry, Business Location, Utility Services, Labor, Financial Services, International Trade, Taxation, Dispute Resolution, Market Competition, and Business Insolvency.
- Pillars of B-READY: For each topic, B-READY considers three pillars.
- Pillar I: Regulatory Framework – Focuses on the rules and regulations firms must follow during their life cycle, highlighting those that support clarity, fairness, and business sustainability, and those that hinder entrepreneurship.
- Pillar II: Public Services – Covers government-provided services and infrastructure that support regulatory compliance and business activities, with an emphasis on digitalization, interoperability, and transparency.
- Pillar III: Operational Efficiency – Measures how easily firms can comply with regulations and utilize public services relevant to their operations.
- B-READY analyzes 1,200 indicators to identify policy reform opportunities, using data from primary sources to highlight key aspects of each topic.
