John Miller
Valued Member
Joined: 17 Nov 2003
Posts: 102
Location: New Zealand
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Posted: Tue Mar 02, 2004 7:27 pm Post subject: New Zealand is easiest place to set up a business |
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Not only is New Zealand the least regulated country in the world, it is also one of the easiest places to start up a new business, according to the World Bank Group.
The World Bank has just released "Doing Business 2004", a report on starting a business, hiring and firing staff, enforcing contracts, getting credit, and closing a business in over 130 countries.
According to the Doing Business database, it cost just US$28 ($41) to register a company in New Zealand in 2003 and took just three days.
This compared with a two day, US$402 service in Australia and an 18 day, US$264 process in the United Kingdom.
In terms of credit information, New Zealand's credit bureaux contained credit ratings on nearly every adult.
But credit registries in Serbia and Montenegro, Pakistan and Nigeria held credit histories on less than one per cent of adults.
Across the five criteria the report looked into, New Zealand is the least regulated followed by Australia, Canada, Sweden, the United Kingdom and Singapore, while Bolivia, Costa Rica, Guatemala, Mozambique, the Philippines and Venezuala were among the most heavily regulated.
http://www.nzherald.co.nz/latestnewsstory.cfm?storyID=3552462&thesection=business&thesubsection=latest |
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