Tentmaker Reports

Liberia Report

Entrepreneurial Missions Index

34.3

General Information

Population

3,994,122 (118th most populous country in the world)

RELIGIONS
Christian80%
Indigenous Beliefs20%
LANGUAGES
Sesotho
English
Zulu
Xhosa

Industries

Food, beverages, textiles, apparel assembly, handicrafts, construction, tourism

Unless otherwise noted, all information included here was obtained from the World Factbook project 4, conducted by the Central Intelligence Agency (CIA). For more detailed information about Liberia, visit https://www.cia.gov/library/publications/the-world-factbook/geos/lr.html.

Business Information

The World Bank ranks Liberia as 155 out of 183 economies in terms of ease of doing business. The country ranks as 71 (of 183) in terms of ease of starting a business.

It requires 0 procedures, takes 0 days, and costs N/A% of income per capita to start a business in Liberia.

In order to start a business in Liberia, one must follow these procedures:

  1. Hire a registered legal practitioner, who prepares all documents and registers the company in the Deeds Office
  2. Have land lease stamped and pay the stamp duty
  3. Receive an inspection by the Public Health Inspector with the Maseru City Council
  4. Apply for manufacturing or trading license and register for taxes with the OSS at the Ministry of Trade and Industry
  5. Open a bank account and pay the required initial capital in a bank
  6. File for workman’s compensation with an insurance company
  7. Request for a post office box or private box

Unless otherwise noted, all information included here was obtained from the Doing Business project 3, conducted by the World Bank. For more detailed information about starting a business in Liberia, visit http://www.doingbusiness.org/.

 

 

Liberia Economic Freedom

The annual survey Economic Freedom of the World is an indicator produced by the Fraser Institute, a libertarian think tank which attempts to measure the degree of economic freedom in the world's nations. Economic Freedom of the World index has been more widely used than any other measure of economic freedom, because of its coverage of a longer time period

Their measure of economic freedom is based on that the following standards:

  • Personal choice rather than collective choice,
  • Voluntary exchange coordinated by markets rather than allocation via the political process,
  • Freedom to enter and compete in markets, and
  • Protection of persons and their property from aggression by others.

A state will rate high when it focuses on protection of people and their property from the actions of aggressors, enforcement of contracts, and provision of the limited set of public goods like roads, flood control projects, and money of stable value and little else, but a country’s rating on the EFW summary index will fall as government expenditures increase and regulations expand.   

 

Liberia Summary

 

1 World Economic Forum

2 Free the World
Gwartney, James and Robert Lawson with Herbert Grubel, Jakob de Haan, Jan-Egbert Sturm, and Eelco Zandberg (2009). Economic Freedom of the World: 2009 Annual Report. Vancouver, BC: The Fraser Institute. Data retrieved from www.freetheworld.com.

3 World Bank Data

4 World Factbook Project

Contact Us
Have questions, feedback or want to connect? Give us a shout, tweet us, or drop by our offices.