Only one, but if it takes a filing cabinet of paperwork, three bribes, a $20k processing fee and a four-month wait after personally visiting the application centre 200 miles away, you'll be unlikely to start that business.
The time and resources required for incorporation are a good metric, but since the difference in the top-ten is only a matter of hours it looks trivial. In far too many nations, it's not.
That's is not true that NZ is the fastest. In Australia it is about 5 mins to get a 'business' and about 40 mins to complete tax registration.
1. You do not require ANYTHING to start a business in Australia
2. There are three main types of 'business structures' in Australia
a) Sole Trader - NO PAPERWORK IS REQUIRED but most people register a name so they can get a bank account in their business name eg Fred's Flowers
Time: 5 mins Cost: $142
About half of all businesses are sole traders.
b)Proprietary Limited company Fred's Flowers Pty Ltd (similar to a US Inc)
To create a Proprietary Limited requires at least 1 shareholder and 1 share and 1 director.
Pty Ltd are legal entities that account for about half of all business in Australia.
Time: 5 mins Cost: $400
3. Limited companies. Fred's Flowers Ltd
These are large companies, often listed on the stock exchange. I own and control an unlisted public company but we will be listed in a few months.
As much as I like our Kiwi cousins, it is not the 2nd best place to start a business in the world.
The methodology is deeply flawed to the point of nonsense.
Comments
Only one, but if it takes a filing cabinet of paperwork, three bribes, a $20k processing fee and a four-month wait after personally visiting the application centre 200 miles away, you'll be unlikely to start that business.
The time and resources required for incorporation are a good metric, but since the difference in the top-ten is only a matter of hours it looks trivial. In far too many nations, it's not.
That's is not true that NZ is the fastest. In Australia it is about 5 mins to get a 'business' and about 40 mins to complete tax registration.
1. You do not require ANYTHING to start a business in Australia
2. There are three main types of 'business structures' in Australia
a) Sole Trader - NO PAPERWORK IS REQUIRED but most people register a name so they can get a bank account in their business name eg Fred's Flowers
Time: 5 mins Cost: $142 About half of all businesses are sole traders.
b)Proprietary Limited company Fred's Flowers Pty Ltd (similar to a US Inc)
To create a Proprietary Limited requires at least 1 shareholder and 1 share and 1 director.
Pty Ltd are legal entities that account for about half of all business in Australia.
Time: 5 mins Cost: $400
3. Limited companies. Fred's Flowers Ltd These are large companies, often listed on the stock exchange. I own and control an unlisted public company but we will be listed in a few months.
As much as I like our Kiwi cousins, it is not the 2nd best place to start a business in the world.
The methodology is deeply flawed to the point of nonsense.