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Best Countries to Start Up A Business - Alldamoney

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Best Countries to Start Up A Business









The Organization for Economic Cooperation and Development  Global  report  shows that new enterprise creations are on an upward trend more so  based on this report  the easiest countries to conduct business are not necessarily global giants like Brazil, China or even India.None of these so called giants made the top 10.for example china is at 90th position in terms of ease of doing business and has failed to significantly improve its status over the past years.

Using the Distance to Frontier (DTF) which show, in percentage points, how far, on

average, an economy is at a point in time from the best performance achieved by

any economy on each Doing Business indicator since 2005 (or the third year that

data were collected). This measure is reflected on a scale of 0 to 100, with 100

representing the highest performance, or “frontier”  to run down top five countries

where it's easiest to do business.


1.Singapore



   Population
     5.54m
  GDP per  Capita $56,319   
     DTF Score       2016
         87.34        
  DTF Score 2015
   87.34   
    Change in    DTF 0

On the second year running Singapore's economy came up with the most friendly

place to do business.in terms of protecting minority investors,the country came up

top also including enforcing contracts and dealing with construction permits

Singapore also ranked well for paying taxes(5) getting electricity(6) and starting a

business(10)








2. New Zealand

   Population
     4.7m
  GDP per  Capita $36,950   
     DTF Score       2016
         86.79        
  DTF Score 2015
   86.75   
    Change in    DTF+0.04
       

New Zealand earned top scores for starting a business, registering property, getting credit and protecting minority investors (the starting a business category looks at a number of steps entrepreneurs undertake before the go through to start up and formally operate a business,plus the time and cost it takes to complete those steps)for dealing with construction permit the country ranked (3) based on a streamed online process starting a business can take just a few hours

3. Denmark




   Population
     5.707m
  GDP per  Capita $53,280   
     DTF Score       2016
         84.40        
  DTF Score 2015
   84.26   
    Change in    DTF+0.14
       
Denmark is the third-easiest country in which to do business. It ranked highest in
trading across borders (1)  and achieved high marks in dealing with construction permits (5), registering property (9) and resolving insolvency (9). The report notes that Denmark made starting a business easier by implementing a new online platform which allows entrepreneurs to complete business and tax registration simultaneously.


4.The Republic of Korea

 Population
    50.801m
 GDP per  Capita $37,699   
    DTF Score      2016
        83.88        
DTF Score 2015
   83.91   
  Change in  DTF-0.03
       
The Republic of Korea ranked first in getting electricity, and also scored well in enforcing contracts (2), resolving insolvency (4) and protecting minority investors (8). While the country made two advancements in 2015 – it made transferring property easier and strengthened minority investor protections – 2016 reforms made paying taxes more complicated and costly for companies.

5.Hong Kong

   Population
     7.435m
  GDP per  Capita $42,437  
     DTF Score       2016
         83.67       
  DTF Score 2015
    82.87  
    Change in    DTF+0.80
       
Hong Kong ranked first for protecting minority investors, and also ranked well for starting a business (4), paying taxes (4), dealing with construction permits (7) and getting electricity (9). Reforms in 2016 have made it easier to start a business by eliminating the requirement for a company seal; improved access to credit by using a modern collateral registry; made paying taxes easier and less costly for companies; and made it simpler to get electricity by streamlining the process for reviewing connection applications and installing meters.

These above countries are able to attain the highest spot due to economic policies adopted by their various governments unlike Russia, Greece and Colombia brought them towards the bottom of the list. Nations in the Middle East where High levels of perceived bureaucracy in nations exist .

































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