What's the #1 nation in the world in which to start up a business?
Believe it or not, it's New Zealand. Starting a business requires only "one procedure, half a day, (and) less than 1 percent of income per capita and no paid-in minimum capital."
That's the finding of the World Bank and the International Finance Corporation which studied 189 nations by comparing regulations and required procedures for starting a new business as well as compliance time and costs.
The other nations in the top 5:
#5 Hong Kong
"But, where's the United States?" some might be wondering.
#20 Yes, #20...behind Rwanda, Belarus, and Azerbaijan!
In the United States, starting up a new business requires 6 procedures, 5 days, and 1.5% of a company's income per capita.
The past six years of "hopium and changeum" and all of its attendant federal regulations are strangling the economy by making it impossible for entrepreneurs of all economic strata to start up a business. The result is fewer jobs, higher unemployment and, yes, calls by the President and his party in Congress for a higher federal minimum wage.
What a great way to strangle start up businesses and gut an economic engine! It's not happenstance, but planned...as in a "planned economy" which is a "central economy" which is a "socialist economy."
Let the discussion begin...
To read about the World Bank and the International Finance Corporation report in the Washington Examiner, click on the following link:
"U.S. Ranks behind Rwanda, Belarus, Azerbaijan in Ease of Creating New Business, World Bank Says."