After having a score of 125 in the ease of doing business world rankings in 2017 SVG fell 5 points and now ranks at 130 in 2018.
The country had attained the rank of 111 in 2016 and fell 14 points down to the rank of 125 in 2017.
Barbados is ranked 129 better than St Vincent and the Grenadines (130); St Kitts Nevis (140); Grenada (147); Suriname (165) and Haiti (182).
However, Jamaica continued to hold the number one spot in the Caribbean, ranked at 75th. They were followed by St Lucia (93); Dominica (103); Trinidad and Tobago (105); Antigua and Barbuda (112) and The Bahamas (118).
Of the 190 economies surveyed the worst performing was Somalia. The top three were New Zealand, Singapore and Denmark.
The World Bank report said economies in Latin America and the Caribbean carried out some 25 reforms during the past year to improve the ease of doing business for domestic small and medium enterprises.