Sierra Leone

Ease of Doing Business in

Sierra Leone

This page summarizes Doing Business 2014 data for Sierra Leone. The first table lists the overall "Ease of Doing Business" rank (out of 189 economies) and the rankings by each topic. It also lists the economy's distance to frontier (DTF)** measure. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

Region Sub-Saharan Africa
Income Category Low income
Population 5,978,727
GNI Per Capita (US$) 580
City covered Freetown
Doing Business 2014 Rank Doing Business 2013 Rank*** Change in Rank
142 137 down -5

Doing Business 2014 DTF** (% points) Doing Business 2013 DTF** (% points) Change in DTF** (% points)
52.20 50.01 down 2.19
 

Starting a Business

Info

The challenges of launching a business are shown below. Included are: the number of steps entrepreneurs can expect to go through to launch, the time it takes on average, and the cost and minimum capital required as a percentage of gross national income (GNI) per capita.

DB 2014 Rank 75 DB 2013 Rank*** 75 Change in Rank 0
DB 2014 DTF** (% points) 83.26 DB 2013 DTF** (% points) 78.89 Change in DTF** (% points) up4.37

Information on new business density and number of newly created firms with limited liability can be found at Entrepreneurship Database.

Indicator Sierra Leone Sub-Saharan Africa OECD

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

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Procedures (number)
6 8 5

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

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Time (days)
12.0 29.7 11.1

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

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Cost (% of income per capita)
44.1 67.4 3.6

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

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Paid-in Min. Capital (% of income per capita)
0.0 125.7 10.4
No. Procedure Time to Complete Associated Costs
1 Check the uniqueness of the company name and pick up a company registration form 1 day SLL 10,000
2 Register with the Registrar of Companies at the Office of the Administrator and Registrar General (OARG) 2-3 days SLL 405,000
3 Obtain Tax Identification Number (TIN) from the National Revenue Authority 1 day no charge
4 Request a business license from the Municipality of Freetown 2 days SLL 750,000
5 Register with the Ministry of Labor and Social Security 4 days no charge
6 Make a company seal 2 days SLL 50,000

** The distance to frontier (DTF) measure shows the distance of each economy to the "frontier," which represents the highest performance observed on each of the topics including Getting Electricity across all economies included in Doing Business. An economy’s distance to frontier is indicated on a scale from 0 to 100, where 0 represents the lowest performance and 100 the frontier. Read more...

***Last year's rankings are adjusted: they are based on 10 topics and reflect data corrections.

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