International entrepreneurs can quickly get discouraged once they encounter the mess of deregulation, red tape and lack of infrastructure that often comes with developing to middle-class world economies. Certainly, some countries are easier to do business in than others, though the World Bank's Doing Business 2012 report shows a mounting number of encouraging changes to the business environment in over 170 global economies.
Each year, the Doing Business report measures the regulation reforms of 173 global economies based on 10 factors: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
Between 2010 and 2011, 53 economies made it easier to start a business, 44 streamlined the process of getting credit, 29 made reforms to resolve insolvency, and 18 improved regulations for trading across borders. Notably, 78 percent of the economies in Sub-Saharan Africa made regulatory improvements that would make it easier for local entrepreneurs to start businesses.
This year's top 10 countries provided the greatest ease of doing business. Here's why they made World Bank's ranking: