In a ranking by the World Bank, APAC nations ranked in the top for ‘ease of doing business’ globally. These countries included New Zealand, Singapore, Hong Kong, and South Korea – that came in the top five along with Denmark.
European and Scandinavian countries also showed a strong presence with Norway and Sweden rounding off the top 10. The UK was placed in the 8th position and Lithuania was ranked number 11 for ease of doing business.
As per the reports, the places that scored high in the ranking made productive use of online systems for admin-related tasks. It was also analyzed that these companies showed the greatest level of transparency in their operations.
Another factor that made these nations stand out in the ranking was the practice of allowing a ‘potential’ business during financial constraints or bankruptcy.
However, the time it takes to start a business in these countries varied greatly. According to the report, it takes almost six-times longer to start a business in the countries that ranked in the bottom 50 than those that ranked in the top 20.
Read next: Amazon, Apple, Google or Microsoft - Who Has the Most Successful App Store?
European and Scandinavian countries also showed a strong presence with Norway and Sweden rounding off the top 10. The UK was placed in the 8th position and Lithuania was ranked number 11 for ease of doing business.
As per the reports, the places that scored high in the ranking made productive use of online systems for admin-related tasks. It was also analyzed that these companies showed the greatest level of transparency in their operations.
Another factor that made these nations stand out in the ranking was the practice of allowing a ‘potential’ business during financial constraints or bankruptcy.
However, the time it takes to start a business in these countries varied greatly. According to the report, it takes almost six-times longer to start a business in the countries that ranked in the bottom 50 than those that ranked in the top 20.
Via: Statista.
Read next: Amazon, Apple, Google or Microsoft - Who Has the Most Successful App Store?
){kind=link}