12 of 20
12. Japan
2009 rank: #12
2008 rank: #12

Having abolished a minimum capital requirement for businesses, Japan has seen a significant increase in new company registrations, according to the "Doing Business" report.

But starting a business still takes 23 days and is relatively expensive, costing 7.5% of the average gross national income per capita.

When it comes to bankruptcy, however, this is one of the most efficient economies in the world. Japan has the world's highest recovery rate, at 92.5 cents on the dollar. It also has the second-fastest processing time for foreclosure, reorganization and liquidation cases, enabling creditors to recover their debt in just over six months.

When it comes to paying taxes, however, businesses in Japan may wonder where all that efficiency went, with 13 payments taking an average of 355 paperwork-hours a year.

NEXT: 13. Thailand

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
Sponsored by
Full story: Global best spots for small biz Singapore is tops in the World Bank's survey of the friendliest regulatory environments for startups and small companies. More
10 worst countries for startups These 10 countries filled out the bottom of World Bank's list, presenting major obstacles to fledgling new ventures. More
100 best places to live and launch Fortune Small Business's picks of the best places in the U.S. to start a company. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.