Heavily country-dependent, in practice. The UK lets you set up a company online cheaply, quickly, and filing is easy. Insurance is plentiful and sensible, as are business bank accounts. The law is mostly straight-forward. Setting up a German limited-liability company OTOH involves putting down some ghastly large sum as a guarantee.

But yes, Americans are told they have the freest speech and the freest markets, and don't seem to question either.