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A new study by the World Bank and the International Finance Corp. found that the U.S. ranks well behind countries like Rwanda, Belarus and Azerbaijan in terms of how easy it is for an entrepreneur to start a new business. The U.S. did narrowly beat Uzbekistan, though.
The rankings were included in the organizations' joint study "Doing Business 2014: Understanding Regulations for Small- and Medium-Sized Businesses." The annual report, released in October, ranks the relative ease of creating a new business in 189 countries, looking at such measures as the number of procedures required, the time spent complying with them and the cost of doing so, among other factors.
I am getting file not found as well, only the Fox News article opens.
you know nobody ever reads the studies to figure it out for themselves
they just rely on the msm headlines to tell them the conclusion, preferably one that confirms what they already believe.
in this case, the u.s. performed pretty well, 20th in the world. we also performed far better than countries of a similar size (whether you measure it by population or GDP).
furthermore, the OP and the article do a terrible job of explaining how this particular ranking correlates to job growth. some of the countries that are supposedly "easy to start a business" -- Lithuania, Ireland, Kyrgrzstan -- have very high unemployment rates.
I read the intro after attempting multiple links until I found a live one and the methodology went something like this.
"Doing Business records all procedures officially required, or commonly done in practice, for an entrepreneur to start up and formally operate an industrial or commercial business."
I think is pretty safe to say that if you are starting a business in an underdeveloped country like Rwanda or a post communist dictatorship like Belarus common business practices and official commercial regulation are going to be the least of your worries.
Their methodology ignores the 800 pound gorilla in the room which would be corruption, in fact they note that they are specifically not looking at bribery or bribes, which should send up alarm bells to anyone who has done business in much of the developing world. Without addressing that make or break issue this list is basically fiction, likely produced to impact US regulation rather then actually compare global business efficiency.
Barriers to entry come in all forms and sizes. For some it may be the upfront money required to obtain a lease, purchase inventory, hire employees, etc. to open a storefront. For others it may be the state and local fees and charges associated with incorporating, etc.
As the old saying goes, "it takes money to make money." It's quite unfortunate how many good ideas go unrealized because of the various barriers to entry.
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