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11. Iceland
2009 rank: #11
2008 rank: #11

Iceland made no reforms between June 2007 and June 2008, but kept its place in the top 20 thanks to the relatively efficient processes it offers throughout the lifecycle of a small business: launching a company takes five days, property registration can be completed in four days, construction permit applications can be completed online and bankruptcy proceedings take only a year.

While Iceland isn't among the speediest economies when it comes to resolving a commercial dispute, it is among the cheapest, costing only 6.2% of the claim, on average.

One trouble spot for Icelandic businesses: Import and export costs are relatively high.

NEXT: 12. Japan

Source: All data comes from "Doing Business 2009," a publication of the World Bank and the International Finance Corporation. Detailed methodological information is available at www.doingbusiness.org.
LAST UPDATE: Sep 11 2008 | 1:18 PM ET
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