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World Bank and the International Finance Corp. Rank US Ease of Starting a Business
The World Bank Group is the largest and most famous development bank in the world. The World Bank is a family of five international organizations that make leveraged loans to poor countries. To clarify – this loan is used in structured investment instruments arranged by banks and sold usually to other institutional investors. Based in Washington, D.C, the World Bank’s mission is to reduce poverty globally. The bank provided around $30 billion in loans and assistance to “developing” and transition countries in 2012.
Starting a new business requires a number of procedures, time and cost for a small and medium-size limited liability company to start up and formally operate. According to a new study conducted by the World Bank and the International Finance Corp., the research found that the U.S. ranks behind Azerbaijan, Belarus and countries like Rwanda, in terms of the ease in which it required for a person to start up a new business. Fox News reports that these statistics were based on the joint study titled, “Doing Business 2014: Understanding Regulations for Small-and Medium-Sized Businesses.” This study revealed that New Zealand is the easiest place in the world to create a new business.
The annual report was released in October. Following New Zealand in the ranks, Canada, Singapore, Australia and Hong Kong were among the top five places for an entrepreneur to start a new business. The data and analysis measures and compares regulations relevant to the life cycle of a small to medium-sized domestic business in 189 economies.
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Image Credit: Google ImagesWorld Bank and the International Finance Corp. Rank US Ease of Starting a Business by Jaan