The World Bank's Doing Business Report was announced and ranked Cyprus 25th among 183 countries in starting a business and 40th in the overall rating of doing business. The Doing Business Report evaluates and ranks 183 countries according to 10 categories focusing on business matters of each country. Doing Business records all procedures that are officially required for an entrepreneur to start up and formally operate an industrial or commercial business. These include obtaining all necessary licenses and permits and completing any required notifications, verifications or inscriptions for the company and employees with relevant authorities.