In the UK alone, 581,173 businesses were started last year, a record-breaking figure. Thousands of new businesses start every single day, each one hoping to make a name for themselves and make their fortunes. Of course, it’s not possible for every business to make it, in fact in the UK over half of all startups will fold within five years. The world of business is a hostile place, not for the faint hearted.
It’s not an even playing field, however. Depending on where your business is based, could very well determine how successful it becomes. If you happened to miss the Forbes “best places for business” list which was released towards the end of 2014, you’ll have missed the countries which are proven to be the most hospitable and accommodating towards new businesses. It’s a surprising read, with the global economic super powers placed a lot lower than expected, for a plethora of reasons.
The big winner was Denmark, hailed for its pro-business government and forward thinking employment schemes such as “flexicurity”.
“The model encourages economic efficiency where employees end up in the job they are best suited for,” says John Weis, economist at Moody analytics. “It allows employers to quickly change and reallocate resources in the workplace.”
Elsewhere on the list, and a big surprise to outsiders looking in was the placing of the US. The global superpower was punished for it’s corporate tax climate and dropped to 18th. A less than stellar showing which prompts the question, should our economic leaders do more to support small businesses?
It’s a difficult balancing act, and with the knowledge that the US is home to more billionaire startups than any other country, it seems to reason that they’re doing something right. After all, there is only so much a government can do to support entrepreneurs. We must not forget that if you have a million dollar idea and a great work ethic, tougher tax restrictions than those present in Denmark aren’t going to stop you being successful.
Still a little help wouldn’t go amiss, right?
Take a look at the infographic below for a summary of the global business landscape. It features a run down of the top global industries and the main players involved, the fastest growing economies according to the IMF as well as the global consumer price index for the first half of 2015.
Originally posted 2017-01-01 15:02:03.