Report: Jamaica leads in the Caribbean with ease of doing business

The Bahamas, Jamaica and Trinidad & Tobago are leading the Caribbean in improving the region’s business climate, according to a new “Doing Business” report released on Tuesday by the World Bank.

The report revealed that the three Caribbean Community (CARICOM) countries took steps to improve their business regulatory environment over the past year.

The report lists Antigua & Barbuda, the Bahamas, Barbados, Dominica, the Dominican Republic, Grenada, Haiti, Jamaica, St. Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, and Trinidad & Tobago as the countries making up the Caribbean.

The “Doing Business” report analyzes regulations that apply to an economy’s businesses during their life cycle, including start-up and operations, trading across borders, paying taxes and resolving insolvency.

The report titled “Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises,” finds that “Jamaica led the way in the Caribbean by adopting new legislation for private credit bureaus, reducing the corporate income tax rate and streamlining procedures for starting a new business”. -(CMC)