Time required to obtain an operating license (days)

This indicator measures the average duration, in days, that businesses must navigate between submitting an application for an operating license and receiving its approval. It encapsulates the procedural efficiency of regulatory bodies and reflects the overall ease or complexity of starting a business within a specific jurisdiction. A shorter timeframe indicates streamlined procedures and a supportive regulatory environment, while a longer duration may highlight bureaucratic inefficiencies or stringent regulatory requirements. Understanding this metric is crucial for entrepreneurs, investors, and policymakers, as it not only impacts business planning and cash flow but also serves as a benchmark for regulatory performance and economic competitiveness in attracting new ventures. Source: