The Milken Institute publishes an annual Global Opportunity Index that tallies the countries where it is easier to do business and thus foster companies that can be competitive on a global basis. This is important because while all businesses start small, most would love to scale and become international firms. The study touches on the very relevant questions as to which policies governments should pursue to attract investment and accelerate job creation. A highly educated and motivated workforce is very important but that is just part of the equation. Access to capital and a regulatory environment that encourages pro-business activity and risk taking definitely is crucial. It also helps to operate under an established rule of law.
Ease of doing business entails such important foundations like tax burden and the cost of starting a business. Quality of regulation includes issues of transparency, corruption and the burdens of rules. It is all here to view. And this is not just for countries that are on the rise and looking to improve the economic plight of their nation, along with the wealth of its citizens – but should also be a word of caution for countries that take their position in the world for granted.
At the top of the list is mighty Singapore. The super-power known as the United States barely makes the top twenty with several European countries easily topping the Yanks including the UK, Ireland and Sweden. Special note to Malaysia the only country in the top 10 that is considered “developing”. It is also the first country in South East Asia to move aggressively in legalizing investment crowdfunding.
The top ten on the Index is listed below. The rest of the list is in the embedded document.
- Singapore
- Hong Kong
- Finland
- New Zealand
- Sweden
- Canada
- Norway
- United Kingdom
- Ireland
- Malaysia
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