Conditions for conducting business activity in Lithuania in 2006–2012

The following paper is an attempt to examine the conditions under which business is carried out in Lithuania. To evaluate these terms the most important international rankings were used. The methodology of their construction was introduced and the results of seven years were summarized. The strongest and weakest points of the economy of Lithuania were identified and a comparison with other countries in the region was drawn. The analysis points to the conclusion that Lithuanian entrepreneurs operate in the legal and institutional environment which in some areas is similar to that of most countries of the EU, or even better (for example in the registration of ownership). However, there are some particular regulations that make the conditions of doing business in Lithuania much more difficult than for their European competitors. Among the areas in which Lithuania clearly lags behind the countries considered to be business-friendly in its regulations and procedures are the following issues: tax regulations and tax rates, labor on starting and closing business.