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Cost of business start-up procedures in Bangladesh

Cost of business start-up procedures in Bangladesh

World Bank's Doing Business Project every year define the cost of doing business around the world. The index shows the procedural cost of starting a business in compare to GNI of a particular country. Along with that the magnitude of the cost also shows how business friendly a country is to start a business. It tells a lot about the scenario of starting a business in a particular country, corruption in the process and business friendly environment. As per the report shows, the best environment for starting a business in Bangladesh was in 2008, during the Caretaker Government. The procedural cost of starting a business was lowest ever in the history of Bangladesh in that year which was 25.70.

In the year 2012 Bangladesh ranked 122, losing 4 point from 118 in last year, among 183 economies around the world. The situation in almost all sectors of starting a business, from Starting a Business to Dealing with Construction Permits to Getting Electricity to Registering Property to Getting Credit to Protecting Investors, deteriorated than previous year instead of getting better. Although govt. and other authority have been talking of business friendly environment, in reality, things are just inverse.

Source: World Bank, Doing Business project.

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Mohammad Ruhul Kader is a Dhaka-based entrepreneur and writer. He founded Future Startup, a digital publication covering the startup and technology scene in Dhaka with an ambition to transform Bangladesh through entrepreneurship and innovation. He writes about internet business, strategy, technology, and society. He is the author of Rethinking Failure. His writings have been published in almost all major national dailies in Bangladesh including DT, FE, etc. Prior to FS, he worked for a local conglomerate where he helped start a social enterprise. Ruhul is a 2021 winner of Emergent Ventures, a fellowship and grant program from the Mercatus Center at George Mason University. He can be reached at [email protected]

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