Australia named one of the easiest places in the world to conduct business

A recent study conducted by the World Bank and International Finance Corporation shows that Australia is "one of the easiest places in the world" to conduct business.

Out of 189 economies around the world, Australia earned an impressive 11th place. This was due to a number of factors, including how straightforward getting credit and starting a brand-new business is here.

When it comes to getting credit, Australia was given third place. We were also deemed the fourth easiest place on the map in terms of starting a business - just behind New Zealand, Canada and Singapore.

On average, it takes about two and a half days to register a business in Australia. The same goes for Singapore and Hong Kong.

The Organisation for Economic Co-operation and Development (OECD) reveals the median amount of time to register a business is 11.1 days.

If you're thinking about starting a business in Australia, there are a number of things you'll need to take into consideration.

In addition to getting your finances in order, registering your business, figuring out what your legal obligations and taxation requirements are, hiring employees and marketing your products or services, you should also spare a thought for business insurance.

With so many others things to think about, it's quite common for entrepreneurs to overlook this - but it's actually one of the most important parts of starting a business.

There are a wide range of policies to choose from, so it's a good idea to speak with a professional before you make any decisions.

Elders Insurance can help you understand your cover options and decide which will best suit your needs and situation.

Whether you're in the market for business property insurance, liability insurance or some other type of cover, get in touch with your local agent today.