Total Entrepreneurial Activity for 2004 = 15.1%

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World Average TEA 9.6
Asia and Oceania Average TEA 3.4

Entrepreneurship in New Zealand

New Zealand is known as one of the most entrepreneurial nations in the world. According to the Index of Economic Freedom, it is the third most open economy in which to do business. Yet despite these conditions it has not gained ground fast enough in the league tables that measure economic wealth. Therefore, the New Zealand Government is actively working to provide an environment that enables international investors to bring, or establish, operations with New Zealand companies to their best advantage.

In the World Competitiveness Yearbook 2002, New Zealand ranked 5th ahead of Australia, Canada, the US and the UK. 88 per cent of all businesses use computers in New Zealand, compared to 84 per cent in Australia and 81 per cent in Canada. (Information Technology Use in New Zealand 2001, Statistics New Zealand released 2002).

New Zealand offers distinct time-driven advantages in servicing global markets.
Being the first OECD country to wake up every day, New Zealand's time zone is two hours ahead of Australia, with its working day spanning the afternoon on the West Coast of America, the Asian day, right through to breakfast in Europe.

Some more New Zealand business advantages include:
• A highly educated, flexible and multi-skilled workforce
• Property costs that are amongst the most competitive in the Pacific
• Unencumbered free movement of capital
• A simple tax system with a corporate tax rate of just 33 percent
and minimal, and in most instances zero capital gains tax
• Overall tax, paid by international companies in New Zealand,
optimized by international tax agreements
• 100 per cent tax deductibility for R&D
• One of the lowest average tariff rates in the world

The New Zealand Venture Capital market is currently very immature but growing at a substantial pace to keep up with the growing entrepreneurial market. Although the market seems to be immature it is still quite healthy with plenty of potential to support the New Zealand market.

The New Zealand female entrepreneurs are amazing. They have a much bigger presence than almost any other place in the world. Of all the entrepreneurs in New Zealand 37.7% of New Zealand's entrepreneurs are female (or about 5% of the female adult population). New Zealand woman are world's leaders in having the necessary skills and motivation to start a new business. In New Zealand, starting a new business is a socially acceptable career option for women. New Zealand is also world-ranked in encouraging women to become self-employed or start a new business. Young New Zealand women aged 18-24 are more entrepreneurial than young men but tend to have a higher fear of failure than men.

Best Bets
New Zealand 2002 GEM National Report
New Zealand 2003-4 GEM National Report

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