02 May 2008

Best Places to Start a Business

Countries that have relaxed regulations for doing business create more income, jobs and investment.  They make it easier for private enterprises to thrive.

Source: Doing Business: 2008, by the World Bank

Ease of Starting a Business

1. Singapore -- Gross national income (GNI) per capita is U.S.$29,320.

Starting a business (on average) takes five days and requires following five procedures.  The cost is $235, or 0.8 percent of GNI per capita.

2. New Zealand -- Gross national income (GNI) per capita is U.S.$27,250.

Starting a business (on average) takes 12 days and requires following two procedures. The cost is $27, or 0.1 percent of GNI per capita.

3. The United States -- Gross national income (GNI) per capita is U.S.$44,970.

Starting a business (on average) takes six days and requires following six procedures. The cost is $315, or 0.7 percent of GNI per capita.

4. Hong Kong (China) -- Gross national income (GNI) per capita is U.S.$28,460.

Starting a business (on average) takes 11 days and requires following five procedures. The cost is $882, or 3.1 percent of GNI per capita.

5. Denmark -- Gross national income per capita is U.S.$51,700.

Starting a business (on average) takes six days and requires following four procedures. The cost is zero.

6. The United Kingdom -- Gross national income (GNI) per capita is U.S.$40,180.

Starting a business (on average) takes 13 days and requires following six procedures. The cost is $321, or 0.8 percent of GNI per capita.

7. Canada -- Gross national income (GNI) per capita is U.S.$ 36,170.

Starting a business (on average) takes three days and requires following two procedures. The cost is $326, or 0.9 percent of GNI per capita.

8. Ireland -- Gross national income (GNI) per capita is U.S.$45,580.

Starting a business (on average) takes 13 days and requires following four procedures. The cost is $137, or 0.3 percent of GNI per capita.

9. Australia -- Gross national income (GNI) per capita is U.S.$ 35,990.

Starting a business (on average) takes two days and requires following two procedures. The cost is $288, or 0.8 percent of GNI per capita.

10. Iceland -- Gross national income (GNI) per capita is U.S.$50,580.

Starting a business (on average) takes five days and requires following five procedures. The cost is $1,366, or 2.7 percent of GNI per capita.