The World Bank has revealed its rankingof the world’s most attractive economies to launch its business, Doing Business 2019 . The podium has remained unchanged since last year with New Zealand leading, followed by Singapore , then Denmark in 3rd place. France, meanwhile, is only in32nd position!
A large number of reforms introduced
The World Bank develops, each year, in collaboration with the International Finance Corporation, the Doing Business ranking, which ranks 190 savings based on ease of doing business there.
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If French entrepreneurs have always had a preference for mature countries with high GDP levels, such as the United States, Spain or Germany to launch their projects, the ranking we reveals that there are many more interesting countries to consider because of smaller restrictions on business start-up.
There are many reforms in the area of contract enforcement, particularly in Canada, Chile, Denmark, Ireland, Poland, the Slovak Republic and Slovenia.
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The payment of taxes totalled four reforms last year, in Finland, Hungary, France and Lithuania.
Top 5 of the ranking
The rankings are based on the average ratings for the “ease of doing business” of each country for the 10 themes taken into account in the 2019 ranking. This measure indicates the deviation of each economy from global best practices observed in terms of trade regulation. Higher score indicates a more efficient business environment and a stronger legal framework.
1- New Zealand:
New Zealand managed to reach the 1st position in the ranking for the 3rd consecutive year. It has also won the first position on 3 criteria of the 10 selected by the World Bank, namely: the creation of a business, the transfer of real estate properties and obtaining bank loans. New Zealand also ranks 2nd in the protection of minority investors.
Although it has just 5.5 million inhabitants, Singapore is the most popular destination for entrepreneurs in Asia. According to the World Bank study, Singapore is leading in terms of contract execution. It is also much easier to find the necessary capital in comparison with other countries.
Denmark is the only European country in this top 5 and is therefore a destination of choice for entrepreneurs wishing to invest in Europe.
In order to attract foreign entrepreneurs, Denmark is working to facilitate entrepreneurship and innovation and simplify the creation of a business. The country also benefits from developed and connected infrastructure, state-of-the-art technology and a flexible, skilled and efficient workforce.
4- Hong Kong:
It is easy to start a business in Hong Kong, especially when it comes to choosing a company name, obtaining a construction permit or obtaining an international credit.
Opening your business in Hong Kong also allows for a fairly low tax. Not to mention its situation which allows it to be directly linked to major economies such as China, Japan and Korea.
5- South Korea:
Since the 2011 Free Trade Agreement between South Korea and Europe, tariffs have been significantly reduced. And since then, the Korean market has become much more accessible. And although it is distinguished by a high standard of living, South Korea still has affordable prices when comparing with other similar countries such as Japan OusingaTour.