Top 10 Best Countries in the World for Starting and Running a Business
The World bank’s doing business 2016 report is just out it is the most authoritative source in the world for which countries are most friendly to entrepreneurs, and where’s it is least onerous to keep an enterprise running.
We have laid out which Top Countries are in the very upper end of the ranks. We also looked at where they were last year, and where they were five years ago, in the 2011 index.
Open for Business
In deciding where to bring their business, companies must define their priorities by weighing multiple operating and human costs. National governments face a similar cost-benefit analysis in setting corporate tax rates and policy. The countries considered the most business friendly are those that perceived to best balance stability and expense.
The best countries ranking, formed in partnership with global marketing communications company Y and R’s brands strategy firm, BAV consulting, and the Wharton school of the university of Pennsylvania, are based on a survey that asked more than 21,000 people from four regions to associate 80 countries with specific characteristics.
Top Best Countries to start a Business
Relatively low initial costs and streamlined procedures make countries in Asia attractive to entrepreneurs. In 2014 more than a quarter of new business registrations occurred in East Asian and pacific nations, according to the World Bank.
Globally, the Organization for Economic Cooperation and Development reports that new enterprise creations have been on an upward trend though not quite back to levels seen before the financial crisis. Interest in large manufacturing enterprises has decreased while small service industry shops continue to pop up.
The Easiest Places to do Business
When it comes to doing business, however, the list Web Page changes. New Zealand is at the top of the table for the first time, knocking Singapore off the top spot, a position it has retained for the past decade.
Singapore is followed by Denmark, Hong Kong and South Korea.
The Easiest Places in the World to do Business
The United States also slipped down one place in the overall table, from seventh to eighth. It scored well for getting credit and dealing with insolvent firms, but suffered a poor rating for starting a business.
In last place was Somalia, which wasn’t included in last year’s ranking as it has suffered to no protection for Business investors.
This year’s report assessed 10 areas of Business starting a business dealing with construction permits getting electricity registering property getting credit protecting minority investors paying taxes trading across borders enforcing contracts and resolving insolvency. Labour market regulation was not included in this year’s ranking.