Doing Business in the V4

Here is a quick overview of the ease of Doing Business in the V4. The data were collected and published by World Bank's Doing Business survey. For comparison we plotted the V4 countries against Germany, their main economic partner and all-time positive benchmark plus Turkey, the biggest emerging market that competes with Central and Eastern European countries.

The V4 countries offer a very business friendly environment in many aspects, and there are a number of drags. Hungary is the champion of starting a new enterprise (indeed, our company was registered in half a day), Slovakia is number one in registering property, the Czech Republic in managing the workforce and Poland in protecting (minority) investors. Actually in these cases the respective V4 countries beat both Germany and Turkey. Germany is still better at enforcing contracts and dealing with the bureaucracy, and the V4 are still ahead of Turkey this business-friendliness indicators. However, Turkey has a domestic market that is almost as strong as the V4 combined and much cheaper labor.