The report, conducted by the World Bank and the International Finance Corporation (IFC), uses 10 key indicators to measure and compare the overall ease of operating a business in 181 countries. The time and cost for businesses to meet government regulations for starting and operating a business is tracked, including how easy it is to trade across borders, pay taxes, and close a business.
The study also found that New Zealand businesses paid less tax (as a percentage of their profits) than Australian businesses, and less than the average of all developed countries.
New Zealand has rated first or second since the survey started six years ago. Small Business Minister Clayton Cosgrove said maintaining the number two spot was a good result, in the face of increasingly competitive business policies in other countries.
New Zealand makes it easy to start a business too
The report ranked New Zealand as the easiest country in which to start a new business too – taking just an hour, compared with an average of 13.4 days in developed countries. This ranking is in large part due to the new online company registration process, where companies can be registered quickly and inexpensively online.
Setting up a company online is as easy as reserving a company name, completing the incorporation details, and returning the signed consent forms. When you register and incorporate a new company you can also apply online for a company IRD number and register for GST.
Further information
See the Doing Business 2009 rankings for each of the countries
Find out about registering a New Zealand company online
Date published: 6 October 2008