Doing Business 2018 Report: Australia only at fourteenth place
According to the Doing Business 2018 report, Australia is only at number 14 while our neighbour New Zealand is at number one. The report was compiled from the input of over 13 000 experts from all over the world. In total 190 different economies were rated.
In this study, the ranking is being determined by the Ease of Doing Business Index which rates countries according to 11 factors. These indicators cover varieties from starting a business to getting electricity. The ranking shows us how difficult or easy it is to start a business or to get electricity in different countries.
In this report, Australia is ranking number fourteen with a score of 80.14 points. The ranking of Australia for each indicator is as follow:
Starting a business (7)
Dealing with construction permits (6)
Getting electricity (47)
Registering property (51)
Getting credit (6)
Protecting minority investors (57)
Trading across borders (95)
Paying taxes (26)
Enforcing contracts (3)
Resolving insolvency (18).
According to the report, Australia is good at providing official permissions and permits of registering a business, approving to build a warehouse, having easy access on getting credits, resolving a commercial dispute and the quality of judicial processes. However, Australia still needs to improve on matters like exporting and importing, protecting minority shareholders’ rights in related-party transactions and incorporate governance, and getting connected to the electrical grid, the reliability of the electricity supply and the transparency of tariffs.
In case you want to see the whole report in order to obtain more information, here is the link for downloading it.
If you have questions or suggestions to improve our service, please leave your message here:
This article was published in the Australia Freelance Market News 77.