New Zealand is third in the world for the ease of doing business in a World Bank report.
Doing Business 2012: Doing Business in a More Transparent World assesses regulations affecting domestic firms in 183 economies and ranks the economies in 10 areas of business regulation, such as starting a business, resolving insolvency and trading across borders. This
year’s report data cover regulations measured from June 2010 through May 2011.
The report rankings on ease of doing business have expanded to include indicators on getting electricity. The report finds that getting an electrical connection is most efficient in Iceland; Germany; Taiwan, China; Hong Kong SAR, China; and Singapore.
The global report shows that governments in 125 economies out of 183 measured implemented a total of 245 business regulatory reforms—13 percent more reforms than in the previous year. In Sub-Saharan Africa, a record 36 out of 46 economies improved business regulations this year. Over the past six years, 163 economies have made their regulatory environment more business-friendly. China, India, and the Russian Federation are among the 30 economies that improved the most over time.
This year, Singapore led on the overall ease of doing business, followed by Hong Kong SAR, China; New Zealand; the United States; and Denmark. The Republic of Korea was a new entrant to the top 10. The 12 economies that have improved the ease of doing business the most across several areas of regulation as measured by the report are Morocco, Moldova, the former Yugoslav Republic of Macedonia, São Tomé and Príncipe, Latvia, Cape Verde, Sierra Leone, Burundi, the Solomon Islands, the Republic of Korea, Armenia, and Colombia. Two-thirds are low- or lower-middle-income economies.
At a time when persistent unemployment and the need for job creation are in the headlines, governments around the world continue to seek ways to improve the regulatory climate for domestic business. Small and medium businesses that benefit most from these improvements are the key engines for job creation in many parts of the world,” said Augusto Lopez-Claros, Director, Global Indicators and Analysis, World Bank Group.
Take note Labour, the key engines for job creation are small and medium businesses which benefit from improvements in the regulatory climate.
That is the opposite of what will be achieved by Labour’s work and wages policy.
The rankings (with New Zealand’s place in brackets) were based on the ease of starting a business (1), dealing with construction (2) getting electricity (31), registering property (3), getting credit (4), protecting investors (1) , paying taxes (36) , trading across borders (27), enforcing contracts (10) and resolving insolvency (18).
We score worst for trading across borders, getting electricity and paying taxes.
Coming 36th, 31st and 27th respectively out of 183 isn’t bad but there is still a lot of room for improvement.