Looking at a cross-section of countries ranked for the ease of starting and operating a business, European and APAC regional economies are most likely to be found towards the top of the list. New Zealand was the country ranked highest in the World Bank report “Ease of Doing Business”, published in October. Here, starting a business requires only a single procedure and takes only half a day. The country also scored well on the ability of getting credit for businesses and a fast turnaround at customs.
One advanced economy that found itself lower on the ranking than it would have liked was Japan, which came in rank 29. The country’s government is currently trying to get more people, including foreigners, to launch their own businesses, but has a way to go to streamline its processes. The Japan Times reports that forms only available in Japanese and restrictive visa policies pose barriers for foreign entrepreneurs. Banks being picky about what business owners to take on can be hard on both foreign and homegrown founders. Yet, Japan does well when it comes to the cost of getting electricity as a business and the time it takes to file a tax correction.