Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

NZ ranks first for ease of doing business for fourth year


Media release
19 November 2019

NZ ranks first for ease of doing business for the fourth year

The Doing Business Report 2020 has again ranked New Zealand as the best out of 190 economies for the ease of doing business.

The World Bank’s annual publication compares economies across a number of indicators from ‘starting a business’ through to ‘resolving insolvency’ and ‘protecting minority investors’.

The Ministry of Business, Innovation and Employment’s (MBIE) General Manager Business Integrity Services Ross van der Schyff says the report’s ranking reflects advantages for businesses operating in New Zealand’s business regulatory system.

“Regulating business systems is important to maintain fair markets that thrive, enabling businesses and the New Zealand economy to grow. This also means providing support for small businesses, helping them understand the business environment, and saving them time and money as they continue to grow.

“This includes the Companies Office website making it simple to register and update company information, while resources available on business.govt.nz help Kiwis understand the steps to starting a business and their government obligations,” says Mr Van der Schyff. This includes the recent launch of Good Governance, a tool developed in conjunction with the Institute of Directors and New Zealand Business Performance Panellist Phil McCaw, which aims to educate new company directors to understand their obligations from the start of their business.

The Doing Business Report also ranks New Zealand number one for ‘ease of starting a business’ for the twelfth year in a row. New Zealand also ranked highly for ‘registering property’, ‘paying taxes’ and third for ‘protecting minority investors’.

“In the past year, over 54,000 companies were registered on the Companies Register and 693,000 employment agreements were built using business.govt.nz.

“While it is easy to start up a business, there is of course a balance to be struck between educating businesses about their obligations and enforcement of regulations.

“Nearly all of NZ’s registered businesses are compliant with regulations however for the less than one per cent of businesses that are consciously doing the wrong thing, resourced action is taken against them.”

Visit business.govt.nz for more information on Good Governance and the range of business support tools.

[ends]

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Crown Accounts: Treasury HYEFU Sees Deficit Then Rising Surpluses

An operating balance before gains and losses deficit of $0.9 billion is forecast in the current year, before returning to a small surplus in 2020/21 which then grows to reach $5.9 billion (1.5% of GDP) in 2023/24. More>>

ALSO:

Fuels Rushing In: Govt "Ready To Act" On Petrol Market Report

The Government will now take the Commerce Commission’s recommendations to Cabinet...
• A more transparent wholesale pricing regime • Greater contractual freedoms and fairer terms • Introducing an enforceable industry code of conduct • Improve transparency of premium grade fuel pricing... More>>

ALSO:

Reserve Bank Capital Review Decision: Increased Bank Capital Requirements

Governor Adrian Orr said the decisions to increase capital requirements are about making the banking system safer for all New Zealanders, and will ensure bank owners have a meaningful stake in their businesses. More>>

ALSO:

Aerospace: Christchurch Plan To Be NZ's Testbed

Christchurch aims to be at the centre of New Zealand’s burgeoning aerospace sector by 2025, according to the city’s aerospace strategic plan. More>>

ALSO: