UK named as best country in the world for Business

Published: Wilson Clark

On: Dec 2017

According to a latest survey, Britain gained the topmost place of the Forbes list of 153 countries, after coming in 5th place last year. Forbes acclaimed that Britain remains attractive for businesses as Brexit gets underway.

Reportedly, United Kingdom named as the best country in the world for business in the upcoming year. Kurt Badenhausen of Forbes told that “Much uncertainty observed with the official exit from the EU scheduled for the month of March 2019.

He also said that “Some UK organizations are holding off on investments in order to see how Brexit effects trade relations as well as growth is forecast to slow down in the coming year 2018, but the Britain’s business environment remains attractive.”

UK grabs top spot of best country for Business 2018

Another strength the nation of UK possesses was lower unemployment. Forbes revealed that the United Kingdom performed exceptionally well in the field of technological readiness where it grabs fourth spot and the size & education of it’s workforce receives third place.

The head of economics and business finance at the British Chambers of Commerce, Suren Thiru told that “The UK’s ranking as the best country in the world for business is a successful testament to the hard-work & resilience of business communities around the UK.”

“The UK remains a great place to start and establish a business with low funds to entry and also a very good reputation for business friendly enforcement and regulation too.

As per the source, it is said that the main ranking system was based on as much as 15 different factors including taxes, property rights, technology, innovation, freedom (trade, monetary and personal), corruption, investor protection and red tape.

But the UK didn’t receive a top place in political risk factor, where it secured 28. For the third year in a row, New Zealand received second place, while, Sweden, Netherlands and Canada gathered top five places this year. The USA came in at number 12.

In this ongoing year, Forbes altered how they construct table, market size, taking out stock market performance & adding workforce, political risk, infrastructure, and quality of life.