Where in the world is the easiest place to do business?
According to the World Bank’s annual Ease of Doing Business Report, the answer is Singapore. In fact, there’s nothing new there as Singapore has held the top spot for the last seven years.
What might be more surprising is that the report’s global top improver for the last year was Poland, climbing the ranks from its previous position at 74th to its new spot at number 55. While 55th position might not sound all that impressive, it means that in the space of a year the country has made it much easier to do business. It’s achieved this by introducing four institutional or regulatory reforms which make it easier to register property, pay taxes, enforce contracts and resolve insolvency.
As well as Poland, other economies identified as improving the ease of doing business are Sri Lanka, Ukraine, Uzbekistan, Burundi, Costa Rica, Mongolia, Greece, Serbia and Kazakhstan. Across the world, a total of 108 economies implemented 201 regulatory reforms to make it easier to do business. Globally, these efforts have focused on making it easier to start a new business, increasing the efficiency of tax administration and facilitating international trade (a full list can be seen here: http://www.doingbusiness.org/reforms/overview/topic/trading-across-borders).