2019 looks like a promising year for entrepreneurs and companies looking to start or expand their businesses abroad.
The World Bank’s yearly Doing Business report assessed 190 countries around the world on a range of areas such as ease of doing business, facilitation of procedures for obtaining building permits, the registration of businesses, protection of investors, access to international markets and tax benefits – just to name a few.
The report showed promising perspectives with regards to starting or expanding businesses abroad in 2019. Meanwhile, technology is enabling us to operate all around the world from whatever location we prefer.
Features at a glance
The results suggested that many countries around the world are experiencing positive economic growth. Nearly 60% of the top 50 on the list are high-income OECD countries. 24% can be found in Europe and Central Asia, and 12% in East Asia and Latin America.
In the World Bank’s annual ranking of bureaucracy-busting economies, New Zealand claimed the top spot. Among other factors that led them to give the #1 spot to New Zealand, the World Bank cited how cheap it is to set up a company there.
China, as well as India, gained higher positions than last year – mostly thanks to new wide-ranging reforms designed to give businesses and entrepreneurs more protection and economic incentives.
Asia: India and China climbing on top
China and India look as promising as ever.
According to NDTV, India Prime Minister Narendra Modi has pledged to make it easier to operate businesses in the country and has already targeted a spot in the top 50. Since Modi took charge, he has announced the country’s biggest tax reform, overhauled a century-old bankruptcy law and revived stalled projects. As a result, the country jumped to 77th from 100th place last year. China broke into the top 50 for the first time, leaping from 78th to 46th. According to the Doing Business report, Europe accounted for half of the slots in the top 10. Georgia outran the U.K. and the U.S. to claim the 6th position. Along with New Zealand, the country requires just one simple procedure to start a business. Gains made by Georgia and Norway pushed the U.K. down two places to the 9th spot. The region continues to trail on gender issues, with significant barriers for female entrepreneurs in 14 economies, according to this most recent report. The United Arab Emirates, in 11th place, is the Middle East’s only country in the top 20. Though face-to-face interaction plays a valuable role in business, it’s not always necessary. With the right combination of software, you can maximize technology’s benefits in your digital workplace. Recently, we discussed several applications that improve business collaboration, communication and productivity. Most often, these time and cost-saving solutions are cloud-based – giving you 24/7 access and the flexibility to work from any device regardless of where you are.Europe: Georgia and Norway surpass the UK
Middle East and North Africa: the United Arab Emirates
