In its overall ranking, the country, which is largely categorized as upper-middle income, made a whopping 22-position jump"”going from 91 last year to 69 this year.
The World Bank study points out that Sub-Saharan Africa has been making massive efforts to reform economic hurdles for businesses, and Rwanda ranking within the top 10 for starting a business is proof. The country has recently instituted some electronic processes for starting a business, boosting entrepreneurship.
Georgia, considered a lower-middle income country, is improving access to credit and protecting investors.
This is another country working in several sectors to ease the process of doing business, including dealing with construction permits, getting credit, and registering properties.
The study points out that the country is actively making regulation reforms, in the areas of cost and minimum capital, that help foster start-ups.
Singapore boasts relatively quick processes for getting construction permits and registering properties, while also has easy access to credit.
In a global trend in which where large economies are mentoring developing nations, Canada has been working with Peru to improve its business environment.
According to the data, the country has relatively easy access to credit and ease in trading across borders.
According to the study, the "one-stop" shop approach, where most of the government agencies that a start-up needs are linked online, keeps the country on top.