Trinidad and Tobago | Time required to build a warehouse (days)
Time required to build a warehouse is the number of calendar days needed to complete the required procedures for building a warehouse. If a procedure can be speeded up at additional cost, the fastest procedure, independent of cost, is chosen. Development relevance: The economic health of a country is measured not only in macroeconomic terms but also by other factors that shape daily economic activity such as laws, regulations, and institutional arrangements. The data measure business regulation, gauge regulatory outcomes, and measure the extent of legal protection of property, the flexibility of employment regulation, and the tax burden on businesses.
The fundamental premise of this data is that economic activity requires good rules and regulations that are efficient, accessible to all who need to use them, and simple to implement. Thus sometimes there is more emphasis on more regulation, such as stricter disclosure requirements in related-party transactions, and other times emphasis is on for simplified regulations, such as a one-stop shop for completing business startup formalities.
Entrepreneurs may not be aware of all required procedures or may avoid legally required procedures altogether. But where regulation is particularly onerous, levels of informality are higher, which comes at a cost: firms in the informal sector usually grow more slowly, have less access to credit, and employ fewer workers - and those workers remain outside the protections of labor law. The indicator can help policymakers understand the business environment in a country and - along with information from other sources such as the World Bank's Enterprise Surveys - provide insights into potential areas of reform. Limitations and exceptions: The Doing Business methodology has limitations that should be considered when interpreting the data. First, the data collected refer to businesses in the economy's largest city and may not represent regulations in other locations of the economy. To address this limitation, subnational indicators are being collected for selected economies. These subnational studies point to significant differences in the speed of reform and the ease of doing business across cities in the same economy. Second, the data often focus on a specific business form - generally a limited liability company of a specified size - and may not represent regulation for other types of businesses such as sole proprietorships. Third, transactions described in a standardized business case refer to a specific set of issues and may not represent the full set of issues a business encounters. Fourth, the time measures involve an element of judgment by the expert respondents. When sources indicate different estimates, the Doing Business time indicators represent the median values of several responses given under the assumptions of the standardized case. Fifth, the methodology assumes that a business has full information on what is required and does not waste time when completing procedures. Please also see: https://www.doingbusiness.org/en/about-us/faq Statistical concept and methodology: Data are collected by the World Bank with a standardized survey that uses a simple business case to ensure comparability across economies and over time - with assumptions about the legal form of the business, its size, its location, and nature of its operation. Surveys are administered through more than 9,000 local experts, including lawyers, business consultants, accountants, freight forwarders, government officials, and other professionals who routinely administer or advise on legal and regulatory requirements.
To build a simple commercial warehouse and connect it to water, sewerage and a fixed telephone line, many construction regulations are required. Construction regulation matters for public safety. If procedures are too complicated or costly, builders tend to proceed without a permit. By some estimates 60-80 percent of building projects in developing economies are undertaken without the proper permits and approvals. Good regulations help ensure the safety standards that protect the public while making the permitting process efficient, transparent and affordable. Time is recorded in calendar days. The measure captures the median duration that local experts indicate is necessary to complete a procedure in practice. It is assumed that the minimum time required for each procedure is one day, except for procedures that can be fully completed online, for which the time required is recorded as half a day. Although procedures may take place simultaneously, they cannot start on the same day (that is, simultaneous procedures start on consecutive days), again with the exception of procedures that can be fully completed online. If a procedure can be accelerated legally for an additional cost, the fastest procedure is chosen if that option is more bene?cial to the economy’s score. It is assumed that BuildCo does not waste time and commits to completing each remaining procedure without delay. The time that BuildCo spends on gathering information is not taken into account. It is assumed that BuildCo follows all building requirements and their sequence as required. Data starting in 2014 reflect the DB15-17 methodology change.
The Doing Business project of the World Bank encompasses two types of data: data from readings of laws and regulations and data on time and motion indicators that measure efficiency in achieving a regulatory goal. Within the time and motion indicators cost estimates are recorded from official fee schedules where applicable. The data from surveys are subjected to numerous tests for robustness, which lead to revision or expansion of the information collected. Please also see: https://www.doingbusiness.org/en/methodology/dealing-with-construction-permits
Publisher
The World Bank
Origin
Republic of Trinidad and Tobago
Records
63
Source
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| 2005 | 254 |
| 2006 | 254 |
| 2007 | 254 |
| 2008 | 254 |
| 2009 | 254 |
| 2010 | 254 |
| 2011 | 254 |
| 2012 | 254 |
| 2013 | 254 |
| 2014 | 254 |
| 2015 | 254 |
| 2016 | 254 |
| 2017 | 254 |
| 2018 | 254 |
| 2019 | 254 |
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Trinidad and Tobago | Time required to build a warehouse (days)
Time required to build a warehouse is the number of calendar days needed to complete the required procedures for building a warehouse. If a procedure can be speeded up at additional cost, the fastest procedure, independent of cost, is chosen. Development relevance: The economic health of a country is measured not only in macroeconomic terms but also by other factors that shape daily economic activity such as laws, regulations, and institutional arrangements. The data measure business regulation, gauge regulatory outcomes, and measure the extent of legal protection of property, the flexibility of employment regulation, and the tax burden on businesses.
The fundamental premise of this data is that economic activity requires good rules and regulations that are efficient, accessible to all who need to use them, and simple to implement. Thus sometimes there is more emphasis on more regulation, such as stricter disclosure requirements in related-party transactions, and other times emphasis is on for simplified regulations, such as a one-stop shop for completing business startup formalities.
Entrepreneurs may not be aware of all required procedures or may avoid legally required procedures altogether. But where regulation is particularly onerous, levels of informality are higher, which comes at a cost: firms in the informal sector usually grow more slowly, have less access to credit, and employ fewer workers - and those workers remain outside the protections of labor law. The indicator can help policymakers understand the business environment in a country and - along with information from other sources such as the World Bank's Enterprise Surveys - provide insights into potential areas of reform. Limitations and exceptions: The Doing Business methodology has limitations that should be considered when interpreting the data. First, the data collected refer to businesses in the economy's largest city and may not represent regulations in other locations of the economy. To address this limitation, subnational indicators are being collected for selected economies. These subnational studies point to significant differences in the speed of reform and the ease of doing business across cities in the same economy. Second, the data often focus on a specific business form - generally a limited liability company of a specified size - and may not represent regulation for other types of businesses such as sole proprietorships. Third, transactions described in a standardized business case refer to a specific set of issues and may not represent the full set of issues a business encounters. Fourth, the time measures involve an element of judgment by the expert respondents. When sources indicate different estimates, the Doing Business time indicators represent the median values of several responses given under the assumptions of the standardized case. Fifth, the methodology assumes that a business has full information on what is required and does not waste time when completing procedures. Please also see: https://www.doingbusiness.org/en/about-us/faq Statistical concept and methodology: Data are collected by the World Bank with a standardized survey that uses a simple business case to ensure comparability across economies and over time - with assumptions about the legal form of the business, its size, its location, and nature of its operation. Surveys are administered through more than 9,000 local experts, including lawyers, business consultants, accountants, freight forwarders, government officials, and other professionals who routinely administer or advise on legal and regulatory requirements.
To build a simple commercial warehouse and connect it to water, sewerage and a fixed telephone line, many construction regulations are required. Construction regulation matters for public safety. If procedures are too complicated or costly, builders tend to proceed without a permit. By some estimates 60-80 percent of building projects in developing economies are undertaken without the proper permits and approvals. Good regulations help ensure the safety standards that protect the public while making the permitting process efficient, transparent and affordable. Time is recorded in calendar days. The measure captures the median duration that local experts indicate is necessary to complete a procedure in practice. It is assumed that the minimum time required for each procedure is one day, except for procedures that can be fully completed online, for which the time required is recorded as half a day. Although procedures may take place simultaneously, they cannot start on the same day (that is, simultaneous procedures start on consecutive days), again with the exception of procedures that can be fully completed online. If a procedure can be accelerated legally for an additional cost, the fastest procedure is chosen if that option is more bene?cial to the economy’s score. It is assumed that BuildCo does not waste time and commits to completing each remaining procedure without delay. The time that BuildCo spends on gathering information is not taken into account. It is assumed that BuildCo follows all building requirements and their sequence as required. Data starting in 2014 reflect the DB15-17 methodology change.
The Doing Business project of the World Bank encompasses two types of data: data from readings of laws and regulations and data on time and motion indicators that measure efficiency in achieving a regulatory goal. Within the time and motion indicators cost estimates are recorded from official fee schedules where applicable. The data from surveys are subjected to numerous tests for robustness, which lead to revision or expansion of the information collected. Please also see: https://www.doingbusiness.org/en/methodology/dealing-with-construction-permits
Publisher
The World Bank
Origin
Republic of Trinidad and Tobago
Records
63
Source