If you are an entrepreneur, and willing to start up a business, this article will lead you to find the best twelve countries to set up your business. Before you start a business, there are very important factors that need to be considered. Some of those factors can be listed as government and legal approvals, construction permits and business registrations, how to get credits and other necessary funds, taxes and trading across borders, investors and other resources like electricity, resolving insolvency and protecting minority investors etc. After considering these factors, World Bank has listed top 12 countries that are ideal to startup businesses.
World Bank listed Estonia, a country in Northern Europe as the 12th best country to do business in. Estonia has the 42nd place for resolving insolvency and 53rd for protecting minority investors. However it has the 6th rank for registering property. This is down one place from 2016.
Taiwan saved the 11th place in the list of world’s top 12 countries to do business in. it is also down one place from 2016. Taiwan has the 62nd and 68th places for getting credit and trading across borders respectively. But it saved the 2nd place for ease of getting electricity.
Macedonia is the 10th country in the list and it managed to come up to 10th place from 16th place this year. It has the 4th rank for starting a business and 48th place for registering property.
Sweden, another European country has the same position, which is 9th rank as last year in the list. It has the 6th place for getting electricity, but not so good at getting credit – 75th rank for it.
The 8th best country to set up a business according to the World Bank is USA. It had fallen down one place since 2016. However it has managed to maintain the 2nd place for getting credit and 41st place for protecting minority investors.
UK saves the 7th place in the “top twelve countries to do business in” list. UK too has fallen down one place since last year. However, saves the 6th rank for protecting minority investors and 47th place for registering property.
Norway, the 6th country in the list has jumped up 2 places since 2016 and has 4th rank for enforcing contract. But 43rd place for dealing with construction permits.
5) South Korea
The 5th rank in the list goes to South Korea which also fallen down one step from last year. South Korea won the 1st place for getting electricity and 32nd place for trading across borders.
4) Hong Kong
4th rank goes in the list goes to Hong Kong, and this country has jumped up one place since last year. This has the 3rd place for many factors such as getting electricity, protecting minority investors and paying taxes. But has the 61st rank for registering property.
The 3rd country, Denmark which is down one place since 2016 saves the 1st place for trading across border and 32nd place for ease of getting credit.
The 2nd place of the list goes to Singapore without a surprise. It has jumped up one place since last year and has the top spot for protecting minority investors and 29th rank for resolving insolvency.
1) New Zealand
According to the World Bank ranking, the world’s best country to do business in is New Zealand. It is still in the top spot since last year and won the 1st rank for starting a business, dealing with construction permits, registering property, getting credit and also protecting minority investors. But it ranks badly for trading across borders.