Whilst Switzerland generally offers a favourable environment to the entrepreneur setting up a business in the country, a recent World Bank survey found that some of the costs associated with business start-ups can be high.
According to the ‘Doing Business in 2004’ survey, Switzerland was relatively red tape-free when it comes to forming a new business and achieved a favourable rating for its labour market flexibility and strong law of contracts. However, in contrast, the winding-down procedures in Switzerland are more complex and lengthy, with the average bankruptcy proceeding lasting 4.6 years. This compares with a regional average of 1.8 years.
At $3,230, it is also more expensive to register a new firm in Switzerland than in many European states. For instance across the border in Germany the registration cost is $1,340, whilst in Sweden it is lower still at $190. In Denmark meanwhile, there is no registration charge. Nevertheless, start-up costs in Switzerland remain below many other countries.
“For someone who wants to start or operate a business, it’s fairly easy and there’s not too much of a burden on the entrepreneur,” the World Bank’s Giles Garcia told Swissinfo. “But I think getting credit and closing a business are two areas where improvements can be made,” he added.
.
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment