According to the report, ‘Doing Business 2014," Portugal has moved from 29th place to 31st in an evaluation of 189 developed countries of the ease of setting up a company, funding it and doing business.
Singapore, Hong Kong and New Zealand lead the global ranking in the section for ease of starting a business. Next in the top 10 are the United States, Denmark, Malaysia, South Korea, Georgia, Norway and the UK.
In the space of just one year Portugal fell seven positions in the ranking for ‘the ease of starting a business,’ from 25th position to 32nd, passing Germany, France, Spain, Italy and even Greece.
The study, conducted by the World Bank and the International Finance Corporation, concludes that in Portugal it is easier and quicker to open a business than in neighbouring Spain but when it comes to obtaining finance Portugal ranks in 109th position, lower than France or Spain (both in 55th position) and the United Kingdom which is at the top of the worldwide list for obtaining business credit.
In fiscal terms Portugal is not a good place to do business lying in 81st position, behind France and the United Kingdom in a list headed by the UAE.
Credit is due to the Portuguese government for the relative speed for opening a business in the country, although this is still not ranked as easy, but it seems that having opened a new enterprise this is when the problems start, with inflexible and short-sighted banks, acquisitive tax collectors and obstructive local regulation.
