Each year World Bank publishes its “Ease of Doing Business” list that contains all 187 world’s nations and it is part of larger “Doing Business” report. Report for the year 2015 was its 12th edition. In this article we’re going to list the best country for doing business on each continent, and we’re going to explain what’s so good about them.
Europe: Denmark GDP (nominal): $330,8 billion (2014) World Bank’s “Ease of Doing Business” ranking: 4
Denmark is great place for doing business. It’s traditionally earns good rankings on the international transparency index and it has extremely low level of corruption. Denmark offers to entrepreneurs an easy access to the whole EU market, with 100 million of the wealthiest consumers in the world. Its capital Copenhagen is very well connected to both Scandinavia and the rest of Europe and its airport has some of the shortest goods transit times in the whole EU. Only bad thing about this market are employment costs since Denmark is a country with very high living standards.
Asia: Singapore GDP (nominal): $297,9 billion (2013) World Bank’s “Ease of Doing Business” ranking: 1
Singapore took the leading position on this list for the ninth time in a row. This small country has very dynamic economy and its government offers many great grants and programs for entrepreneurs who want to start their business there. It’s a major hub for trade, manufacturing and logistics of different products and industries and at the moment 37 400 international companies have their headquarters in this country. When it comes to company incorporation, Singapore definitely offers one of the best conditions in the world and currently this country is a world’s largest private wealth hub.
Australia and Oceania GDP (nominal): $181,1 (2014) World Bank’s “Ease of Doing Business” ranking: 2
New Zealand ranked as the second best, although it is one of the smallest economies in the top ten. This country has close economic ties to Australia and it survived 2008 Economic crisis intact. On the other hand, Australia’s growing businesses do not seem to remain inland, they tend to spread across the globe, best examples are many digital agencies operating from Sydney on an international level. These great characteristics combined with very transparent judicial system, bright and engaged labour hire opportunities, and one of the most praised educational systems in the world make Australia and Oceania’s stable business climate, and create great opportunities for entrepreneurs who want to start their business down south.
Africa: South Africa GDP (nominal): $350,6 billion (2013) World Bank’s “Ease of Doing Business” ranking: 43
South Africa is a huge country with solid financial system, regulated bank sector and constant influx of foreign investors. This country has a great strategical location and it can be easily used as a gateway to the whole African continent, with nearly 1 billion consumers. It is also part of BRICS group and it has good relations with some of the biggest Asian and South American markets. Cost of doing business in SA is much lower than in most European and North American countries. Although wage of SA professionals are constantly increasing, this country still represents great business environment due to relatively low taxes, telecommunication prices and lots of renewable energy sources.
South America: Columbia GDP (nominal): $384,9 billion (2014) World Bank’s “Ease of Doing Business” ranking: 35
Columbia is large, rich and diverse country that offers many business opportunities. When it comes to exports it is famous of its crude oil, coal and coffee, and it represents the fifth largest economy in Latin America. Columbia is proud of its investment friendly political environment as well as its low inflation and cheap credit. With several major ports and airports it represents an important hub on trade routes that go from South to North America and Caribbean.
North America: United States GDP (both nominal and PPP): $17,41 trillion (2014) World Bank’s “Ease of Doing Business” ranking: 7
Everybody knows that US is definitely one of the best places to do business, mainly because its huge and rich consumer market, and consumer culture that’s the most developed in the world. On the other hand this country has a lot of aspect that are not that flattering. Business system in this country is very rigid, industries have very strict rules, and a small mistake can endanger the whole business venture. Business mentality is highly developed in the US, which also has its bad sides since most of the workers tend to “think inside the box” and business people are much less loyal than in some other, more traditional markets.