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14 Business View Australia - April 2015
ous factors which are essential to start and run a
business. In the view of the World Bank a coun-
try’s economy is dependent to a large extent on
the “nuts and bolts” of an economy. If these ba-
sic requirements turn out to be stumbling blocks,
then the entry barriers for new businesses will be
high resulting in lower competition and a stagnant
economy coupled with low job creation.
In the words of the World Bank, “...the govern-
ment also has the critical responsibility to provide
a nimble regulatory setup that enables ordinary
people to put their skill and talents to the best
possible use and facilitates the smooth and ef-
ficient functioning of businesses and markets. It
is this critical role of providing an enabling and fa-
cilitating ethos for individual talent and enterprise