A new report highlights how business conditions in the U.S. compare to other countries.
If you found it harder to run your small business this year than last year, you’re not alone.
The United States fell one spot in the ranking of easiest places in the world to do business, according to the World Bank Doing Business 2017 report.
While the World Bank ranked the U.S. highly for availability of credit and dealing with insolvent firms, it was only 51st in the world in ease of starting a company.
JOIN NOW AND LEARN HOW TO BEST RUN YOUR BUSINESS.
New Zealand topped the report as the easiest place in the world to do business, while Somalia came in last. CNN pointed out that it takes less than a day to start a business in New Zealand, giving the U.S. something to aim for.
Other studies have found some spots in the U.S. are far more conducive to business than others. Entrepreneur magazine ranked the best U.S. cities and states for starting a business. The cities rank as follows:
- Oklahoma City
- Boulder, Colo.
- Minneapolis
- Miami
- Cambridge, Mass.
- Omaha, Neb.
- Des Moines, Iowa
- Raleigh, N.C.
- Nashville, Tenn.
- Atlanta
And the top 10 states are Kansas, Georgia, Virginia, Tennessee, Idaho, Colorado, Louisiana, Utah, New Hampshire, and Texas.
For those looking to start a small business, the SBA offers 10 steps to follow. Other sources offer specific advice for those over the age of 50.
Related:
NFIB’s Small Business Startup Checklist