Daily Management Review

Doing Business: New Zealand is the most comfortable for entrepreneurship


Doing Business ranking includes 190 countries. The rating ranges its participants not only from the 1st to 190th place. IFC also counts absolute result close to optimum performance. A high score indicates an efficient environment for business and more robust legal institutions.

Positions of the participants are determined by basis of points scored on ten criteria:

- Time and money costs to create a new business

- Construction permits,

- Access to the electricity infrastructure

- Registration of property rights

- Bank loans

- Protection of rights of minority investors

- Payment of taxes

- International trade,

- Enforcement of treaties

- Bankruptcy proceedings

The best current result is 87.01, the worst - 20.29

10. Macedonia

Index: 81.74

The Republic of Macedonia gained its independence in September 1991. Then, its economy was less developed compared to other former Yugoslav republics, especially in comparison with Slovenia and Croatia.

Republic of Macedonia maintains macroeconomic stability in the context of low inflation and low public debt, yet lags behind when it comes to attracting foreign investment and creating jobs.

The main foreign trade partner of Macedonia is the European Union. China, Turkey and Russia Iare also considered important trading partners.

9. Sweden

Index: 82.13

Sweden is home for 50 global companies, such as ABB, Atlas Copco, Oriflame, Saab AB, Saab Automobile AB, Scania, Volvo, Volvo Trucks, Ericsson, TELE2, AB Electrolux, TetraPak, Alfa Laval, SKF, H&M.

The country has a high level of innovation, a highly developed and continuously upgradeable infrastructure, excellent state of technics, well-educated staff who speaks English.

Almost 60% of GDP accounted for taxes, which is the highest value in the OECD.

8. USA

Index: 82.45

The US economy is the largest economy in the world in nominal terms, amounting to not less than a quarter of world GDP in 50 years.

The American economy has a very high level of transparency. US Government frequently publishes dozens of statistical reports and economic indicators. According to the local legislation, some of them are subject to revision in subsequent periods depending on new data.

The country’s economy is characterized as one of the most diverse national economies in the world, and has been recognized the global leader in the past 100 years.

7. United Kingdom

Index: 82.74

The UK hits tops of almost all economic rankings thanks to its indicators and high living standards. Its id economy well-developed, and shows good growth rates. The service sector prevails in the total share of GDP (3/4). The financial component is considered one of the most profitable of the service sector (27.7% of GDP), which determines the country's specialization in international economic relations.

Production sector, the second most important part of the British economy (18.6% of GDP), is represented by two sub-sectors: mining and quarrying (2.2% of GDP) and manufacturing industry (14.7% of GDP).

6. Norway

Index: 82.82

Norway is the largest oil and gas producer in Northern Europe. Hydropower there covers most of the energy needs, and allows the country to export most of its oil.

Oil funds are used for development of future generations. The country possesses wide mineral reserves and large merchant fleet.

Inflation (3%) and unemployment (3%) are low compared to the rest of Europe.

5. South Korea

Index: 84.07

Currently, the South Korean economy is based primarily on production of consumer goods, such as electronics, textiles, automobiles, as well as heavy industry: shipbuilding, steel production. These goods are the main export item.

Trade relations with the Western countries include economic partnership primarily with the United States (the main economic partner) and the European Union.

4. Hong Kong

Index: 84.21

Hong Kong is an Asian financial center, which attracts investors from all over the world. It hosts headquarters of many companies, and is one of the most developed cities of the world

The economy is based on rules of free market, low taxation and zero state interference.

Hong Kong is not an offshore area, but a free port that does not charge customs duties on imports, and imposes no value-added tax or its equivalent. This is an important center of international finance and trade, and level of concentration of business headquarters is the highest in the Asia-Pacific region.

3. Denmark

Index: 84.87

Denmark is an industrial-agrarian country with a high level of development. Production sector accounts for more than 40% in the national income.

The country ranks first in the world in terms of foreign trade turnover per capita.

Main export commodities are engineering products, meat and meat products, dairy products, fish, pharmaceuticals, furniture.

2. Singapore

Index: 85.05

Singapore is a highly developed country with market economy and low taxation, which is why transnational corporations just love the place.

Gross national product per capita is among the highest in the world.

Singapore is attractive to investors because of the low tax rates. There are just five taxes, one of which is the income tax, one - the payroll tax. Total tax rate amounts to 27.1%.

1. New Zealand

Index: 87.01

New Zealand is a developed country with a market economy system based on agriculture, manufacturing and food processing and tourism.

The country's economy is export-oriented. The main trading partners are Australia, the US, Japan, China.

source: doingbusiness.org

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