Australia in top 10 for ease of business
Results from the World Bank’s annual survey has placed Australia at number nine in the world for ease of doing business.
Singapore topped the Doing Business 2010 list, with New Zealand and Hong Kong rounding out the top three. The Central African Republic ranked last, with Greece at 109 the lowest ranked developed country.
The survey also saw Australia top the list for business-friendly regulation with regard to our labour laws. This includes taking into account the ease of hiring and firing, flexibility in working hours and the cost of making workers redundant.
However, Australia could improve on its process to obtain building permits, which takes a business owner through 16 procedures and takes on average 221 days. By contrast, in Hong Kong it takes seven procedures and 67 days.
Doing Business 2010 took into account 10 measures such as ease of starting a business, obtaining credit and ability to enforce contracts, in more than 180 countries.
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