Time to start new business reached 2.50 days in 2018 in Australia, according to the National Statistical Office. This is the same as in the previous year.
Historically, time to start new business in Australia reached an all time high of 3.00 days in 2003 and an all time low of 2.50 days in 2008. When compared to Australia's main peers, time to start new business in Indonesia amounted to 19.6 days, 13.5 days in Malaysia, 0.500 days in New Zealand and 41.0 days in Papua New Guinea in 2018.
Australia has been ranked 168th within the group of 173 countries we follow in terms of time to start new business, 2 places behind the position seen 10 years ago.
The time required to start a business is the number of calendar days needed to complete the procedures to legally operate a business.