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Best Countries To Start A Business

Great Countries To Start A Business In23260417671_e9d7e6333e

When it comes to starting a business, our little planet that we all cohabitate isn’t exactly a level playing field.

One of the most important factors for starting a business is the support and structure of your host government. In fact, your country’s economy and government play a key role in the overall business climate.

The World Bank’s annual report ‘Doing Business 2017’ has calculated various factors that rank 190 countries according to their practices and ease of doing business. In the beautiful infographic below, made by Market Inspector, you can see the top 15 countries that have been ranked the highest for ease of doing business. The factors taken into consideration for this infographic are:

  • The rank given by World Bank for ease of doing business
  • Number of days taken to start a business
  • Number of steps or procedures involved in getting a business registered
  • Cost of starting a business in terms of percentage of GNI per capita of the economy

Additionally, you’ll see the best feature of each of the ranked countries.

This year New Zealand has been ranked number 1 and Singapore number 2 in ease of starting a business. Most of the other countries are from Europe. The U.S. has been placed 8th this year and Australia 15th. Have a peek at the infographic below for more information about each of these country’s’ business practices to see where your country ranks:

15 Best Countries to Start a Business

Below, is a list of political factors affecting business:

  • Bureaucracy
  • Corruption level
  • Freedom of the press
  • Tariffs
  • Trade control
  • Education Law
  • Anti-trust law
  • Employment law
  • Discrimination law
  • Data protection law
  • Environmental Law
  • Health and safety law
  • Competition regulation
  • Regulation and deregulation
  • Tax policy (tax rates and incentives)
  • Government stability and related changes
  • Government involvement in trade unions and agreements
  • Import restrictions on quality and quantity of product
  • Intellectual property law (Copyright, patents)
  • Consumer protection and e-commerce
  • Laws that regulate environment pollution

There are 4 main effects of these political factors on business organizations. They are:

  • Impact on economy
  • Changes in regulation
  • Political stability
  • Mitigation of risk*

*pestleanalysis.com

Photo Credit: global.quiz Flickr via Compfight cc

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About Carol St. Amand

Carol St. Amand

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