A lot of international business surveys enter my inbox every week, and in many of them New Zealand ranks towards the top, if not at the top.
A recent survey carried out by UK-based online marketing firm Reboot Digital Agency (www.rebootonline.com) delved into research to determine which of the world’s economies rank the highest for ease of starting a business.
Guess which economy pipped Hong Kong’s and Canada’s to grab first place?
New Zealand, of course!
Yes, Aotearoa is the world’s number one economy for starting a business, with a ‘Distance to Frontier’ (DTF*) rating of 99.96. In Auckland, says the report, “it would take just one procedure, half a day and less than one percent of income per capita to start a business. This presents the strongest case in ‘ease of starting a business’, when compared to other economies.”
The data considered the paid-in minimum capital requirement, number of procedures involved, and the time and cost for a small to medium-sized limited liability company to start up and formally operate in our economy’s largest business city.
So, the survey confirms it’s easy to start a venture here – but as we all know, the true test for a business owner is surviving those first years and going on to achieve consistent growth.
That’s where the ‘rubber hits the road’!
This month we have some brilliant examples of business longevity – businesses that have stayed the distance through the crucial early years, and on into maturity.
I’m referring to our cover story RIVAL Wealth, and other inspirational examples such as Dona White’s North Port Events, Lizzi Whaley’s Spaceworks, Tauranga’s A.DO Salon, Central Otago’s Pitches Store – to name just a few.
And with skilled cashflow management a key requirement for business longevity, it’s timely that we’re also featuring a Finance and Cashflow special, highlighting some of the finance options that can ease cashflow worries and fuel growth.
This month we farewell Mark Lovey’s excellent Garage to Global series which, getting back to my initial topic, has been a very useful guide for taking a start-up to maturity.
Our thanks to Mark for his valuable input!
Enjoy the read!