The international startup ecosystem is booming. With more and more people launching and growing from businesses in every corner of the globe, innovation has never seemed so common. However, with hundreds entrepreneurial countries around the world, where do you think it's easiest to start doing business? Well luckily, someone has done the work for you.
If you're going to ask anyone which country is the best for doing business, the World Bank is who you want to ask. Fortunately, they've been hard at work with a project, dubbed Doing Business, that thoroughly analyzes what makes a country great at supporting entrepreneurs. And they nailed it.
“Doing Business is a project that provides objective measures of business regulations and their enforcement across 190 economies,” reads their website. “It looks at domestic small and medium-size companies and measures the regulations applying to them through their life cycle.”
Measuring everything from how easy it is to get electricity to the difficulty of paying taxes, Doing Business exhaustingly studied 190 different world economies to establish where it was best to launch a business. Additionally, the report details how reforms can be made to policy in each country, providing a complex tapestry of information on the global entrepreneurial ecosystem. And admittedly, the advice is pretty good.
“Job creation is one of the transformational gains that countries and communities can achieve when the private sector is allowed to flourish. Fair, efficient and transparent rules, which Doing Business promotes, improve governance and tackle corruption,” said Kristalina Georgieva, CEO of World Bank.
If you're interested in learning about which countries made the list, take a look at the full report here or check out the breakdown scores of each of the top ten countries below, including the overall score in each section and the “distance to frontier” score based out of 100 for 2017 and 2018:
1. New Zealand
4. Republic of Korea
5. Hong Kong
6. United States
7. United Kingdom