![\"Venture](\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2013\/04\/Venture-capital-ICT.png\")
<\/a>Venture capital availability rankings Top 50 (Click to enlarge)<\/p><\/div>\n
Starting a business<\/b><\/p>\n
In terms of the time required to start a business in South Africa, the country ranked 81st out of 142 countries at 19 calendar days. New Zealand was first, with only one day required; followed by Australia, Georgia, Macedonia, and Honk Kong. Rwanda closed out the top five countries.<\/p>\n
Senegal, Liberia, and Egypt all ranked highly in Africa.<\/p>\n
WEF\u2019s measure captures the median duration that incorporation lawyers indicate is necessary in practice to complete a procedure with minimum follow-up with government agencies and no extra payments.<\/p>\n
For the number of procedures required to start a business, SA ranked 30th, with Canada and New Zealand joint first on the list.<\/p>\n
Stiff competition<\/b><\/p>\n
In terms of the intensity of local competition, SA rated 51st, with Holland first, Japan second, and Taiwan third.<\/p>\n
When measured against what extent businesses absorb new technology, SA ranked 38th, below only Senegal (36th) in Africa, while the sub-Saharan country ranked 41st in terms of how it obtained technology.<\/p>\n
When asked: To what extent do businesses in your country use ICTs for communicating and carrying out transactions with other businesses? SA ranked 36th at 5.6 (7 = extensively) \u2013 top in Africa, with the likes of Finland, Switzerland, Austria, the UK, and Malta making up the top ranked countries.<\/p>\n