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Really surprised that the UK ranks 16th on 'Starting a Business' and the US ranks 8th. From what I know, it takes a lot longer, costs more, and tends to involve actual lawyers to open a business in the US. In the UK, I did it all online for £25.
So the study is pretty inaccurate.
Really surprised that the UK ranks 16th on 'Starting a Business' and the US ranks 8th. From what I know, it takes a lot longer, costs more, and tends to involve actual lawyers to open a business in the US. In the UK, I did it all online for £25.
This is a ranking of ease of doing business, not starting a business. If you want to start a business in the USA as a sole proprietorship then you can just go ahead and start it.
Earlier quoted context omitted.
> what qualifies as a "business" One would hope that it would be a "real", limited liability company of some kind, that exists as a legal entity separate from that of its owners. (Edit: I mean in terms of the survey, not that people without limited liability companies aren't "real" businesses)
I am curious as to why one would hope that... Around the world there are plenty of small businesses which are in no need of any kind of limited liability, however they still make money by turning a profit so I'd still call them a business.
That takes nothing away from small businesses that don't need that form of incorporation. Of course they are businesses - I was just talking about the survey itself.
US is 8 and UK 16 for starting a business. What does that mean? It's hard/easy to incorporate? It's incredibly easy to create a Limited company in the UK or LLC, S or C corp in the USA. (I've inc'd in both countries). What does the number 1 country have that US or UK doesn't have?
Paying taxes in the USA is 61 vs South Africa's 23? No way. Paying your taxes in South Africa is a serious pain in the behind - I continue to do it. We file our USA C corp and personal corp taxes ourselves each year and it's a breeze in the States.
My guess is this is based on public opinion with a relatively small sample size per country.
This is a ranking of ease of doing business, not starting a business. If you want to start a business in the USA as a sole proprietorship then you can just go ahead and start it.
http://www.doingbusiness.org/economyrankings/?direction=Asc&...
The Deeds Office (land registry) has also has had fraudlent land transfers going through, and although stealing land is more difficult that hijacking a company, it has happened, with complicity between crooked lawyers and corrupt officials.
In most cases these hijackings, of land, and of companies, have been reversed by courts, but the time and expense of going to court could cripple a small business.
If you start a business in South Africa, and decide to incorporate, you should make sure you verify directors regularly, watch your business bank accounts closely, and hope that the government sorts out the mess (there are new controls that are being introduced already at CIPRO).