Starting a Business Harder in U.S. Now

U.S. behind Rwanda

A country’s long-term financial health is often indicated by the ease of starting a new business. This would seem obvious as new businesses need employees and the majority of employment growth comes from small business. For this reason it is distressing to hear that over the last few years creating a new business in the United States has become more difficult, no wonder our unemployment rate isn’t improving.

As a matter of fact according to the World Bank’s “Doing Business 2012” report, the U.S. has fallen to 13th place world-wide when it comes to starting a new business. What is extremely distressing is that we are now behind such notable countries as Rwanda, Saudi Arabia, Armenia, Georgia, Belarus and Macedonia.

Starting a BusinessStarting a Business- Harder Now

According to another Investor’s Business Daily study, 80% of new jobs are created by small businesses. Unfortuantely, small businesses and new business start-ups are being choked by government regulations in a time when we need all the new jobs we can get.  Interestingly, this is a rapid descent since as recently as 2007 when the U.S. ranked 3rd, we ranked 4th in 2008, 6th in 2009 zooming to 11th in 2011 and finally tied with Ireland at 13th in 2012. At this rate in four more years

the U.S. could rank 21st or 22nd behind the U.K., Madagascar, and Egypt which currently rank 19th, 20th and 21st respectively. At the top of the list are New Zealand,  Australia, Canada and Singapore.

Ease of Starting a business
New Zealand 1
Australia 2
Canada 3
Singapore 4
Hong Kong SAR, China 5
Macedonia, FYR 6
Georgia 7
Rwanda 8
Belarus 9
Saudi Arabia 10
Armenia 10
Puerto Rico (U.S.) 12
United States 13
Ireland 13
Mauritius 15
Taiwan, China 16
Kyrgyz Republic 17
Azerbaijan 18
United Kingdom 19
Madagascar 20
Egypt, Arab Rep. 21
Samoa 22
Jamaica 23
Korea, Rep. 24
France 25
Portugal 26
Chile 27
Slovenia 28
Panama 29
Afghanistan 30
Denmark 31
Uruguay 32
Cyprus 33
Tonga 33
Liberia 35
Belgium 36
Iceland 37
Sri Lanka 38
Finland 39
Hungary 39
Norway 41
United Arab Emirates 42
Israel 43
Estonia 44
South Africa 44
Sweden 46
Montenegro 47
Dominica 48
Bulgaria 49

At the bottom of the list are:

Central African   Republic 160
Swaziland 161
Bosnia and Herzegovina 162
Niger 163
Ecuador 164
Guatemala 165
India 166
Angola 167
Kosovo 168
Bolivia 169
Côte d’Ivoire 170
Cambodia 171
Comoros 172
Suriname 173
Togo 174
Congo, Rep. 175
Iraq 176
West Bank and Gaza 177
Equatorial Guinea 178
Djibouti 179
Haiti 180
Guinea 181
Eritrea 182
Chad 183

See Also:

Source: http://www.doingbusiness.org/rankings

Photo credit: Business Planning with Plan-Too by plantoo47 on flickr

 

 

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Work by editor and author, Tim McMahon, has been featured in Bloomberg, CBS News, Wall Street Journal, Christian Science Monitor, Forbes, Washington Post, Drudge Report, The Atlantic, Business Insider, American Thinker, Lew Rockwell, Huffington Post, Rolling Stone, Oakland Press, Free Republic, Education World, Realty Trac, Reason, Coin News, and Council for Economic Education. Connect with Tim on Google+