THE EASIEST PLACES TO DO BUSINESS IN THE WORLD IN 2015 (Infographic)
Based on the World Bank Group’s report: Doing Business 2015, ROI Research On Investment has generated the following infographic highlighting the 10 easiest economies to do business in the world. The TOP 10 business friendly economies: 1) Singapore 2) New Zealand 3) Hong Kong SAR, China 4) Denmark 5) Korea, Rep. 6) Norway 7) United States 8) United Kingdom 9) Finland 10) Australia Wondering what these countries were measured on?
CRITERIA FOR THE RANKING
Starting a Business The process of starting your own business may vary from half a day to more than half a year depending on the country you’re in. Dealing with Construction Permits Since 2009, Europe and Central Asia are the regions that implemented the most reforms. A vast majority of these reforms were about streamlining project approvals, often through the establishment of one-stop shops. Getting Electricity 41 economies implemented reforms to make getting electricity easier since 2010. They improved process efficiency, shortened connection times and streamlined approval processes. Registering Property The (not-so-secret-anymore) recipe to rank well on the ease of registering property: simple procedures, effective administrative time limits, fixed registration fees, easy transfers and online registries. Paying Taxes Recently, tax reforms have focused on reducing profit tax rates as well as improving tax compliance. Business Friendly Economies give more and more importance to modernizing their systems. Trading Across Borders Wondering why Singapore is on the top of the list? Trading across borders has been easiest in Singapore for the 7th year in a row. Getting Credit Since 2009, 53 reforms were implemented by 49 economies to strengthen legal rights and 100 reforms were made by 77 economies to deepen credit information. Enforcing Contracts Contract enforcement improves access to credit while increasing both formality and trade. E-filing efficiently contributed to contract enforcement in the past 5 years. Protecting Investors Investor protection reforms mostly consisted of an increase of disclosure requirements in the past 5 years. Resolving Insolvency New bankruptcy laws, the elimination of formalities, and the regulation of the insolvency administrators’ profession were among the most important reforms over the past 5 years.
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