Annual ranking report of best countries for business by Forbes is out. This time UK (Britain) has been declared as best country for Business in 2018 by as per Forbes in spite of uncertainties around Brexit.
UK was at the fifth place in last year Forbes ranking report and has shown a remarkable improvement to attain the top spot. UK performed well on technological readiness (fourth) and the size and education of its workforce (third) which helped the country to be on top. There were total 153 countries that were taken into consideration by Forbes for preparing list of best countries to do business in 2018.
Factors Considered for ranking:
There were total 15 different factors using which ranking was prepared. The main were property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape and investor protection. Britain was able to get spotted in top 25 countries for each of the factor except political risk, where UK ranked 28th.
The second place in latest Forbes ranking of Best countries to do business was occupied by New Zealand for the third time in a row. New Zealand was followed by Netherlands, Sweden and Canada.
USA has also shown an improvement as the were shifted up to 12th Position which is much better their last year rank(23). This is made possible for US because of improvements in technological readiness, innovation and trade freedom.
Here are the top 20 Best Countries for Business in the Forbes list:
- United Kingdom
- New Zealand
- Hong Kong
- United States
- South Korea