The 9 best countries in the world to start a business

Countries in central and northern Europe dominate a global ranking of the best places to start a business' although a central American state tops the list.The index, compiled by Wharton University and market research firm Y&R, evaluates a total of 80 countries which collectively account for 95% of global gross domestic product.The overall ranking considers a wide range of factors to create an overall "best countries" index, including entrepreneurship, heritage, quality of life, and openness for business.Business Insider took a look at the "openness for business" subindex, which considers a range of factors including the price of manufacturing costs, levels of bureaucracy, tax environment, transparency of government practices, and the extent of corruption.Take a look at the nine countries which made the top of the list.9. Norway ' like many of its Scandinavian counterparts, Norway has one of the highest tax rates in the world, with a total tax burden of around 40 to 45% of GDP, which funds its extensive welfare state. While a big tax burden is not associated with attracting business, the country's transparency and lack of corruption places it at ninth on the index.8. New Zealand ' New Zealand has a very strong tourist industry and a very strong export market, particularly in agriculture. Like Norway, it scores highly on the "Openness for Business" index because of its transparent government practices and lack of corruption.7. Canada is the only north American entry to the list. With a GDP per capita of 36,300, the high-tech industrial society has the benefits of a high standard of living and a skilled workforce. The service sector is Canada's biggest economic driver.See the rest of the story at Business Insider
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