While most people might think starting a business is a quick-and-easy thing to do, it turns out that the country you're in can have a significant impact on just how fast--or how slow--you can get your business off the ground.

According to statistics compiled by the UK's Approved Index, it's becoming quicker overall to start a business: in 2015, the average time is 20 days versus 22 days in 2014. But while New Zealand holds the record for fastest country in which to start up a business (less than 24 hours), it takes 83 days before a company can legally start operations in Brazil, and 144 days in Venezuela.

Here, then, are the top-10 fastest countries in the world to start up a new business. How does your country rate?

1. New Zealand (1 day)

2. Macedonia (1 day)

3. Canada (2 days)

4. Hong Kong (2 days)

5. Georgia (2 days--the country, not the state in the US)

6. Australia (3 days)

7. Portugal (3 days)

8. Singapore (3 days)

9. Armenia (3 days)

10. Azerbaijan (3 days)

And here is a selection of countries--all of which take longer than the top-10 above.

  • UK (5 days)
  • US (6 days)
  • Panama (6 days)
  • Mexico (6 days)
  • Germany (11 days)
  • Madagascar (13 days)
  • Nicaragua (13 days)
  • Dominican Republic (15 days)
  • Guatemala (19 days)
  • Ethiopia (19 days)
Published on: Dec 4, 2015