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Best place to do business in 2019? The United Kingdom!

Every year since 2006, Forbes has created a ranking of countries that are the most hospitable for capital investment. The methodology takes into account numerous factors such as taxes rates, corruption level, labour, property rights, innovation, quality of life and investors protection.

This years’ annual list shows that the United Kingdom’s economy continues to attract investors from all around the World. For the second year in a row, the UK tops the ranking as the country with the best business climate, rising from the fifth position in 2017.

This is the result of positive changes in one of the most important factors for a fairer business environment:  corruption. According to Transparency International’s 2017 Corruption Perceptions Index , the UK is the 8th least corrupt nation out of 180 countries, alongside Canada, Luxembourg and Netherlands. The UK held the 10th position in 2016 but managed to climb up the ranking despite political disarray    - whereas Germany fell from the 10th (2016) to the 12th position in 2017.

Transparency International, Corruption Perceptions Index 2017: https://www.transparency.org/news/feature/corruption_perceptions_index_2017

 

Based on this year’s World Economic Forum annual report, the United Kingdom was also ranked into the top ten countries in the world with the most favorable business climate. According to the Report, the five most disfavourable factors for doing business in the United Kingdom are tax regulations, policy instability, tax rates, inefficient government bureaucracy, and inadequately educated workforce.

The British economy was also rated in 2018 as the 8th freest in the world. The Heritage Foundations’ Index of the Economic Freedom was 78.0 meaning that individuals and companies have a great opportunity to do their business in the United Kingdom without intervention from a government or economic authority.

 

The Heritage Foundation, 2018 Index of the Economic Freedom: https://www.heritage.org/index/

 

The year 2019 was successful not only for the United Kingdom but for two other Northern European countries as well. Sweden (2th) and the Netherlands (4th), were also included to the top five most business-friendly countries. Denmark is also not far behind, sitting in the seventh position.

This really shows how well Hanseatic countries are doing in the global economy and the region provides businesses with tons of opportunities to seize.