Do you think it is easy to start a business in the USA?
Many would say yes, but you may be surprised that the United States ranks only 51st in the recent Economy Rankings which were assembled by the World Bank.
The rankings include the following categories:
- Ease of Doing Business Rank
- Starting a Business
- Dealing with Construction Permits
- Getting Electricity
- Registering Property
In this detailed analysis, the rankings for all economies are benchmarked to June 2016. When it comes to “Starting A Business,” the U.S. trails behind most developed markets including New Zealand (which leads the pack at #1), Canada (which is in second place), United Kingdom (in the top 20 at #16), and France (#27). Also ahead of the U.S. when it comes to starting a business? Frontier Markets! Among the top-ranked frontier markets are Macedonia, Azerbaijan, Kazakhstan, Ivory Coast and Moldova.
The U.S. ranks highly for “Ease of Doing Business,” with the U.S. coming in at #8. But that position is only because it is pulled up by being #2 in Resolving Insolvency, which means the United States is a great place after your business is bankrupt to resolve issues with your creditors!
Overall, the rankings have a ton of interesting information. Check out the full list here.