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New Zealand and Australia are the fastest places in the world to start a business

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According to The Global Information Technology Report 2010-2011 compiled by the World Economic Forum and INSEAD The Business School of the World , New Zealand and Australia are the two most fastest places in the world to start a new business.

A new report, compiled by the World Economic Fund and  INSEAD The Business School of the World, called “The Global Information Technology Report 2010-2011” shows that New Zealand and Australia are the two fastest countries in the world to start a business in.  According to the report, New Zealand requires only one day to start a business while Australia requires two.

In third place, after New Zealand and Australia, comes Singapore, Georgia and Macedonia with a three day requirement to start a new business. Below comes Belgium and Hungary, with four days each, and Albania, Canada, Iceland and Saudi Arabia with five days needed to launch a business.

On the other end of the spectrum, the three worst countries where a business takes longer to launch are Brunei, which takes 105 days, Brazil with 120 days and Venezuela with 141 days.

Photo by kcdsTM

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