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In the realm of fostering new businesses, various jurisdictions exhibit varying degrees of support. From fundamental tasks like establishing electricity connections and registering businesses to navigating more intricate regulatory challenges, the location you choose can significantly influence the success of your venture. What characteristics render a country business-friendly, and which places offer a smoother path to establishing your enterprise?
The Ease of Doing Business ranking, compiled by the World Bank, dissects the complex regulatory landscapes of countries into quantifiable components. This resulting index and ranking system provide a comprehensive global perspective on which nations facilitate business operations seamlessly and which ones grapple with challenges in this regard.
Factors that make up the Ease of Doing Business ranking: Ease of starting a business, Dealing with construction permits, Getting credit, Trading across borders, Getting electricity, Registering property, Enforcing contracts, Paying taxes, Resolving insolvency, Labor market regulation, Protecting investors.
The world map and graphic below created by VisualCapitalist examine the scores (ranging from 0 to 100) of 190 economies globally, along with the variance between high and low-scoring factors within the subindices.
Key facts:
New Zealand was ranked number one for the third year in a row.
In just over a decade, the country of Georgia jumped up 94 spots in the ranking.
After hitting a low of 123rd in 2011, Russia has climbed back to 31st in the ranking.
China’s score jumped by over 8 points in a single year.
Argentina had the lowest score of the G20 nations.
Afghanistan’s score increased by over 10 points in a single year.
We do love a choropleth- great map!