World Bank’s Business Ready (B-READY) Report 2024
- Launched By: World Bank in 2024 to replace the Ease of Doing Business (EoDB) report.
- Background: EoDB paused in 2020 due to data manipulation issues and integrity concerns.
Business Ready (B-READY):
- Purpose: Evaluates the global business climate to promote inclusive private sector growth.
- Coverage: Focuses on 10 core topics over a firm’s lifecycle:
- Business Entry
- Business Location
- Utility Services
- Labor
- Financial Services
- International Trade
- Taxation
- Dispute Resolution
- Market Competition
- Business Insolvency
Pillars of B-READY
- Regulatory Framework
- Clarity, fairness, sustainability, and entrepreneurship focus.
- Public Services
- Government services emphasizing digitalization and transparency.
- Operational Efficiency
- Ease of regulatory compliance and public service usage.
Key Themes
- Digital Adoption: Integration of digital tools.
- Environmental Sustainability: Focus on sustainable practices.
- Gender: Gender-sensitive policies and data collection.
Data & Scores
- Indicators: Analysis of 1,200 indicators.
- Scores:
- Topic Scores: Averaged across three pillars.
- Pillar Scores: Averaged across 10 topics, scaled 0-100.
Global Expansion Plan
- 2024: Covers 50 economies.
- 2026: Expanding to 180 economies.
Global Findings of B-READY Report 2024
- Public Services Gap: Strong regulations but weak service implementation.
- Inclusivity: Robust frameworks feasible across income levels.
- Balanced Development Needed: Even high-income countries require improvement.
Recommendations
- Streamline Operations: Digitize processes like business registration.
- Strengthen Public Services: Improve infrastructure and adopt digital tools.
- Promote Inclusivity and Sustainability: Gender-sensitive and green policies.
- Facilitate Peer Learning: Learn from best performers (e.g., Singapore, Rwanda).
- Adopt Tailored Reforms: Localized solutions aligning with global standards.
