Australia has been ranked number one in the world for the time it takes to start a business, although it has been marked down for its approach to ICT and the availability of new technologies.


The Global Information Technology Report 2010-2011, compiled by the World Economic Forum and international business school INSEAD, found that Australia and New Zealand offers the least hurdles to starting a business, topping the list on time and procedures.


“The country’s notable competitive advantage is the quality of the general environment, in particular the political and regulatory framework,” the report says.


Australia was ranked seventh overall for its political and regulatory framework, and 13th overall for the quality of its general environment.


However, the report reveals Australia is ranked in the 17th spot with regard to network readiness.


The network readiness index is designed to gauge how favourable national environments are to ICT development, and the interest in, and use of, technology by government, business and citizens.


Australia was ranked behind the US, the UK, Canada, Singapore and Taiwan, and was only one spot ahead of New Zealand. Australia also lagged in 22nd spot on the availability of the latest technologies.


The report can be accessed at