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Doing Business

My Business in Grenada

The Government of Grenada recognizes that with the growing number of small and medium businesses in the region, a focus on ease of doing business is vital to support the country’s economic growth. In simplifying business regulation, setting up businesses is made easier not just for big companies but also smaller ones that have less capital and resources at their disposal. With the objective of creating and strengthening an open and fair economic environment, ease of doing business can benefit businesses and local citizens by facilitating access to economic opportunities, lowering transactions costs, and reducing the potential levels of corruption that can exist.

S.No.

Indicator

Parameters

Ministry

1.        

Starting a business

Procedures, time, cost and paid-in minimum capital to start a limited liability company

Ministry Of Legal Affairs

2.        

Dealing with construction permits

Procedures, time and cost to complete all formalities to build a warehouse and the quality control and safety mechanisms in the construction permitting system

Ministry Of Infrastructure Development, Public Utilities, Energy, Transport And Implementation

3.        

Getting electricity

Procedures, time and cost to get connected to the electrical grid, the reliability of the electricity supply and the transparency of tariffs

Ministry Of Infrastructure Development, Public Utilities, Energy, Transport And Implementation

4.        

Registering property

Procedures, time and cost to transfer a property and the quality of the land administration system

Ministry Of Agriculture And Lands

5.        

Getting credit

Movable collateral laws and credit information systems

Ministry Of Finance, Planning, Economy, & Physical Development

6.        

Protecting minority investors

Minority shareholders’ rights in related-party transactions and in corporate governance

Ministry Of Legal Affairs

7.        

Paying taxes

Payments, time and total tax rate for a firm to comply with all tax regulations as well as post-filing processes

Ministry Of Finance, Planning, Economy, & Physical Development

8.        

Trading across borders

Time and cost to export the product of comparative advantage and import auto parts

Ministry Of Trade, Industry, Co-Operative & Caricom Affairs

9.        

Enforcing contracts

Time and cost to resolve a commercial dispute and the quality of judicial processes

Ministry Of Legal Affairs

10.    

Resolving insolvency

Time, cost, outcome and recovery rate for a commercial insolvency and the strength of the legal framework for insolvency

Ministry Of Legal Affairs

11.    

*Labor market regulation

Flexibility in employment regulation and aspects of job quality

Ministry Of Labour

*Not included in EODB rankings

For more information click Doing Business 2020.