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Too Many Permits Cost Businesses Time and Money- FosterFriess.com

Knowledge is power and Joe Lindsley with the Foster Friess Team empowers us with more knowledge to fight the battles ahead.

Need a warehouse for your business? Get ready for a 19-step process

If you want to build, say, a warehouse somewhere in the United States, you will on average have to go through 19 different procedures. Simply obtaining the necessary permits could take you 40 days, at a cost of 12.8 percent of the U.S. economy’s income per capita.

Compared to the other countries of the world, these figures are pretty good, though even a progressive nation such as Denmark requires fewer steps (6) and in Singapore and South Korea, you could obtain your permits in 25 and 34 days, respectively.

But why shouldn’t the United States be the freest country in the world? Especially in this tough economy, if building permit procedures were streamlined, imagine what kind of economic growth could result?

Check out the business regulation data at DoingBusiness.org (chart).

Knowledge is Power~ Click and share with your friends!

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