Starting a new business takes a lot of work and research, especially when deciding on the location. This is true whether you start with your hometown or aim for an international location. Clearly moving out side of your knowledge base will be harder. However, making an international move can be easier if you know where to get information about different options. Each year the World Bank annually ranks countries based on how easy it is to set up and operate a business in its Doing Business report. The ranking includes factors as diverse as the accessibility of obtaining a permit to do construction to being able to turn on the power in a building. This year the ranking included 190 different economies and, as noted by the Economic Times, there were some surprises.
The UK and the US have recently moved down the list. The UK’s ranking was hurt by the prospect and disruption of Brexit, and the U.S. became more difficult due to its trade war with China. In fact, it is now easier to do business in the nation of Georgia than either country. The Middle East has one country in the top 20, that is the United Arab Emirates. The limited number of countries from the Middle East at the top is mostly due to gender issues. Towards the bottom of the list are Venezuela, Eritrea, and Somalia which are experiencing major challenges in their economies.
The countries ranked easiest to do business included New Zealand, Singapore, and Denmark. New Zealand has reduced the price of starting a business and a businesses can be created in the time span of hours. China and India have both improved their rankings by removing some hardships. In China, setting up electricity has been shortened. Afghanistan has improved its ranking by protecting investors. Georgia is also towards the top of the list also due to its short time required to set up a business there.
Read the complete list here.
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