According to information published by the World Bank, a number of emerging economy have made significant strides to create a friendlier business culture over the past year, with the biggest changes being made by Nigeria, India, Thailand, and El Salvador.
These nations are very serious about joining the rest of the world in the global business and financial community, and the major initiatives that they have used to spur growth and make it easier to conduct business here have helped significantly.
At the same time, no nations have made doing business in their country as simple, straightforward, and as effortless as the nations of New Zealand and Singapore. Retaining their top rank for Ease of Doing Business for the second consecutive year, both of these nations have been named as the easiest countries in the world to do business by the World Bank.
Singapore and New Zealand have always had very forward thinking in business friendly governments, regulations, rules, and laws in place designed to help new businesses grow and flourish, but a whole host of new investment, new startup communities, and new opportunities have taken hold in both Singapore and New Zealand to help them maintain their top spot in this global ranking.
More than 190 different countries were measured to determine which was the easiest to do business, and with the United States and Britain moving more towards protectionist trade and immigration policies there has been a bit of a shakeup at the top of the leaderboard.
As we highlighted above, a number of developing economies have really started to make inroads as far as growing their business potential is concerned, and while the US and Britain have slid out of the top 5 (to spots six and seven, respectively) – with Korea and Hong Kong taking their positions while Denmark jumped up a couple of spots – New Zealand and Singapore holdfast at spots one and two, respectively.
China, interestingly enough, has continued to hold steady – but many people are surprised to learn that the world’s second largest economy is still holding down the 78th spot on this list of 190 countries. China has always had particularly protectionist rules and regulations in place, but at the same time they are a major part of the global supply chain and home to some of the biggest businesses in the world.
While it’s difficult for foreigners to do business with China, the Chinese in general are able to start their own businesses without too much headache and without too much hassle. Russia is still relatively difficult to do business with, as our Poland and Spain, while Greece has seen a bit of a jump thanks to its new initiatives designed to turn around an economy that is still lagging relatively far behind its pre-Great Recession economy numbers.
Because of the initiatives and the government actions spurred on by New Zealand and Singapore it’s unlikely that they are going to relinquish their top spots anytime soon. These two nations are going to remain a fixture at top the list of nations easiest to do business with for quite a while now.
About the Author
Morris Edwards is a content writer at CompanyRegistrationinSingapore.com.sg, he writes different topics like 6 Tips for Business Success for Entrepreneurs and all topics related to Business and Economy. If you want to Register a company in Singapore visit our website for more information.