Discover Doing Business’s ranking of the most attractive economies for entrepreneurs according to the World Bank. France is only 32nd.
In some countries, administrative burdens weigh heavily on the backs of entrepreneurs. Executing a sales contract or paying taxes can be complicated and affect the smooth running of the business. But, between June 2017 and May 2018, 128 States adopted reforms to make their economies more attractive and streamline the process for SME creators, as the World Bank announced in the new its ranking called Doing Business 2019.
The institution publishes this report every year, along with the International Finance Corporation, which ranks 190 economies according to ease of doing business there. The table below provides the overall rankings as well as the rankings for the four scoring criteria in particular.
| Country | General classification | Creating a business | Getting loans | Paying taxes | Execution of contracts |
|---|---|---|---|---|---|
| New Zealand | 1 | 1 | 1 | 10 | 21 |
| Singapore | 2 | 3 | 32 | 8 | 1 |
| Denmark | 3 | 42 | 44 | 9 | 14 |
| Hong Kong | 4 | 5 | 32 | 1 | 30 |
| South Korea | 5 | 11 | 60 | 24 | 2 |
| Georgia | 6 | 2 | 12 | 16 | 8 |
| Norway | 7 | 22 | 85 | 30 | 3 |
| UNITED STATES | 8 | 53 | 3 | 37 | 16 |
| UK | 9 | 19 | 32 | 23 | 32 |
| Northern Macedonia | 10 | 47 | 12 | 31 | 37 |
| United Arab Emirates | 11 | 25 | 44 | 2 | 9 |
| Sweden | 12 | 18 | 85 | 27 | 38 |
| Taiwan | 13 | 20 | 99 | 29 | 11 |
| Lithuania | 14 | 31 | 44 | 18 | 7 |
| Malaysia | 15 | 122 | 90 | 72 | 33 |
| Estonia | 16 | 15 | 44 | 14 | 13 |
| Finland | 17 | 43 | 60 | 11 | 46 |
| Australia | 18 | 7 | 8 | 26 | 5 |
| Latvia | 19 | 24 | 12 | 13 | 20 |
| MAURITIUS ISLAND | 20 | 21 | 60 | 6 | 27 |
| Iceland | 21 | 59 | 73 | 33 | 31 |
| Canada | 22 | 3 | 12 | 19 | 96 |
| Ireland | 23 | 10 | 44 | 4 | 102 |
| Germany | 24 | 114 | 44 | 43 | 26 |
| Azerbaijan | 25 | 9 | 22 | 28 | 40 |
| Austria | 26 | 118 | 85 | 40 | 10 |
| Thailand | 27 | 39 | 44 | 59 | 35 |
| Kazakhstan | 28 | 36 | 60 | 56 | 4 |
| Rwanda | 29 | 51 | 3 | 35 | 78 |
| Spain | 30 | 86 | 73 | 34 | 23 |
| Russia | 31 | 32 | 22 | 53 | 18 |
| France | 32 | 30 | 99 | 55 | 12 |
| Source: World Bank | |||||
The top three remain unchanged from last year. New Zealand makes life easier for entrepreneurs. Of the ten criteria used by the World Bank in total, the Oceania archipelago is in the first position in creating a business, transferring real estate assets and taking out bank loans. In addition, the country ranks second in the protection of minority investors. On the other hand, the country fell in the issuance of building permits, dropping from third to sixth place.
In which country will the company be formed?
The podium was completed by Singapore and Denmark. Singapore leads in contract enforcement. Denmark is first in the ranking for ease of doing business with foreign countries. For this last criterion, the Scandinavian country shares first place in … France.
France behind Rwanda and Azerbaijan
Despite this first position, France fell somewhere in this international ranking of the most attractive economies. 28th in 2015, the tricolor economy was only 29th in 2016, 31st in 2017 and now 32nd in 2018. France’s two weak points are the difficulty in getting credit (the country occupies in 99th place in the ranking at this point) and transfer of ownership (96th place).
In the top 10 most business-friendly countries, there are two members of the European Union: Denmark (3rd) and (so far) the United Kingdom (9th). They were three last year in Sweden. The United States took 8th place, meaning a fall of two places compared to last year. Uncle Sam’s country ranks poorly for electrical connectivity (54th place) and business creation (53rd place). It should be noted that countries like China (46th place), Brazil (109th) or India (77th) are not in the top thirty places.