Australia has ranked as the ninth easiest nation for entrepreneurs to obtain capital, out of 122 countries, according to the Milken Institute Capital Access Index.
The Los Angeles-based institute measures a country’s macroeconomic environment, financial and banking institutions, the development of the equity and bond markets and alternative capital sources such as venture capital, credit cards and private placements to arrive at the annual index rankings.
Canada topped the list, up from fourth place last year, while Hong Kong lost its 2008 crown to slip back to second place.
Australia took out the number one spot in the category that measures the importance of equity markets for business financing and tied for second with Canada in the ‘institutional environment’ section, a category that measures the extent to which a country has the institutions to support business financing activities.
However, a ranking of 46 for ‘macroeconomic environment’ showed where there was room for improvement.
Top 10 Countries on Milken’s Capital Access Index:
1. Canada
2. Hong Kong
3. Switzerland
4. United Kingdom
5. Singapore
6. United States
7. Netherlands
8. Norway
9. Australia
10. Finland
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