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Got the entrepreneurial spirit or prefer working for a small business? After comparing 181 economies across the globe, the collective knowledge of 6,700 business experts and government officials suggests that Singapore, New Zealand, and United States have the friendliest business climate for startups and small companies (based on a recent World Bank survey).
The rankings are determined through detailed analysis of a number of factors affecting small businesses: construction permits, hiring workers, financial issues, etc. Singapore is at the #1 spot again this year because of its low import and export costs, strong legal protection for investors, and employer-friendly labor regulations. United Kingdom is also one of the top countries on this list; it will be interesting to see what impact the newly formed IBAC has, if any, on UK’s ranking over the next few years. Below is the list of the top 10 countries with links to the globalEDGE country detail pages:
1. Singapore
2. New Zealand
3. United States
4. Hong Kong
5. Denmark
6. United Kingdom
7. Ireland
8. Canada
9. Australia
10. Norway
You can read the full report on the World Bank website, or listen to their podcast.
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