In the Forbes “Best Countries for Business” list, Sweden tops the bill, followed by New Zealand, Hong Kong, Ireland and the United Kingdom.

Kurt Badenhausen says Forbes “determines the Best Countries for Business by rating 139 nations on 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance. Each category was equally weighted. We only included countries with data across at least eight categories. Sweden ranked among the top 10 countries in seven of the 11 categories we measured.”

Sweden

Sweden has risen to the top of the list through systematic deregulation and budget prudence with large cuts to its welfare state. It is not a member of the European Union and has many free trade agreements in place globally. It is home to some of the world’s most well-known brands including Volvo, Ericsson, H&M and IKEA. But it is also home to numerous technology start ups. Skype was co-founded by Swede Niklas Zennstrom. Spotify and SoundCloud were founded in Sweden, as were Candy Crush and Minecraft.

New Zealand

New Zealand has the smallest economy in the top 5. With a GDP of $174 billion, it has transformed itself into a dynamic, free-market economy in three decades. It has privatised dozens of state-run industries such as airlines, banking, telecoms, insurance, ports, energy and rail. It also ranks first on the Forbes list for investor protection and lack of red tape.

Hong Kong

Hong Kong has a service-oriented economy, is one of the world’s leading international financial centres and has a low tax base. Its location at the centre of Asia gives it strategic importance, and it has one of the busiest airports in the world, giving direct access to the region’s key markets. Additionally, its proximity to and unique relationship with China make it a gateway to mainland China for many businesses.

Ireland

Ireland is a small, trade-dependent country. The rapid growth that came to a sudden halt in 2008 with the death of the Celtic Tiger has come roaring back. The export sector remains crucial with many foreign multinationals utilising the low corporate tax rate, which plays an important role in attracting foreign direct investment into the again buoyant economy.

United Kingdom

2017 ushered in anxiety for many about the United Kingdom’s role in the world given its vote leave the European Union in 2016. Most of the data used to assess the UK was collected before the UK voted for Brexit; therefore, the full impact of Brexit will take years to be realised.

Cornfield & Partners can help you to find new business opportunities and open up new sales channels in Sweden, New Zealand, Hong Kong, Ireland and the United Kingdom. Contact info@cornfieldpartners.com or call us on +44 (0) 20 7692 0873.

Share