08.17The cost of starting a business.
I came across the below infograph here and while I am not a great fan of infographs I found this one serving it’s purpose very clearly: “How much does it costs to start a business in different countries, how long does it take and what are the average success rates”. Comparing some of the figures makes for interesting conclusions:
- It takes 38 days in China to start a business and it ranks at #89 for ease of doing business.
- 99% of businesses in China qualify as being an SME but they account collectively for 60% of GDP while only 7.5% went bankrupt.
- In New Zealand it takes 1 day to start a business, it ranks 2nd for ease of doing business however the also have a failure rate for start-ups of 42% in the first 3 years of doing business.
Draw your own conclusions….