Both USA and UK Rank Highly Amongst Best in World to Do Business
According to a survey by the World Bank, both the United Kingdom and the United States of America have ranked very highly amongst the best places in the world to do business with the “Doing Business” report rating 189 nations on the ease in which firms can operate there.
The World Bank ranking uses metrics such as the time taken to launch and close a business, gain construction permits and pay taxes in a country’s largest business city although in countries with a population of more than 100 million people, the second largest business city is also taken into account with 11 countries that are affected by this inclusion, including China, India, Indonesia, Bangladesh and Pakistan. This rule has only just come into place in the report and may have partially contributed to China advancing three places to 90th while Japan fell two spots to 29th.
The report found that overall it tends to be best to do business in developed nations who have more structured banking and finance rules in place as well as better infrastructure and tending to adopt better practices and regulatory reforms that facilitate businesses.
The list started in 2004 and Britain moved up one place from last year to eighth this year with America remaining in its number seven spot. The top ten are listed below.
The list found that many sub-Saharan African nations were the fastest improving countries to do business in but still remained at the bottom of the list with Tajikistan, Benin, Togo, the Ivory Coast and Senegal making up the top five of the best improved.
With America wishing to remain the world’s largest economy, as it currently is, it is of vital importance that it remain business friendly should it wish to hold onto that top spot.
The UK is the fastest growing developed nation in the world and it also has great interest in seeing that it remains a business friendly environment in order to encourage growth and investors to its shores. The full report can be found by clicking here.
For those looking at setting up a company in any of the European countries (as well as America and Australia) within the top ten list then just click on the country of choice for more information or email us at firstname.lastname@example.org