15 Nov The best and worst places in the world to do business
New Zealand retains the top spot in the latest world bank ease of business rankings.
For the third consecutive year, New Zealand (#1), Singapore (#2) and Denmark (#3) occupied the coveted top three positions in a World Bank report on the ease of doing business around the world, while Somalia again came bottom of the rankings.
The annual World Bank study examines the red tape that affects small and medium-sized enterprises across several areas, including opening and registering a business, paying taxes, and trading across borders.
Higher rankings (a low numerical value) indicate better, usually simpler, regulations for businesses. Those in countries with the highest rankings, such as Vivier & Co in top-spot winning New Zealand, reap the most benefits. These benefits can be passed on to clients which is why it is worthwhile to consider the rankings carefully when deciding where to do business.
The results of the study are “closely watched” year on year by policy makers around the world, with countries frequently effecting domestic reforms in attempts to raise their position, says the Wall Street Journal.
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