Singapore: Business freedom

The latest value from 2025 is 91 points, an increase from 87 points in 2024. In comparison, the world average is 63 points, based on data from 174 countries. Historically, the average for Singapore from 1995 to 2025 is 96 points. The minimum value, 83 points, was reached in 2022 while the maximum of 100 points was recorded in 1995. See the global rankings or world map for that indicator or use the country comparator to compare trends over time.

The Business Freedom index for Singapore from The Heritage Foundation measures the ability to start, operate, and close a business. It reflects the overall burden of regulations and the efficiency of the government of Singapore in the regulatory process.

Definition: The Business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study: Starting a business-procedures (number), time (days), cost (% of income per capita), and minimum capital (% of income per capita); Obtaining a license—procedures (number), time (days), and cost (% of income per capita); Closing a business—time (years), cost (% of estate), and recovery rate (cents on the dollar).