For over a decade now, the nation of Singapore has had the friendliest economy as it relates to business and the demand and supply of the economies of the world. The guiding environment of the country makes it perfect and very beneficial for striving entrepreneurs. The evidence to support this claim comes from the league table of the World Bank. The ease at which business is conducted is measured and reported on the ‘Doing Business' report that is released on an annual basis. It is measured for a hundred and eighty nine economies and is based on business regulation of ten areas including, acquiring credit and electricity, getting a firm started and trading over borders. Singapore leads this report with New Zealand close behind with measurements of 87.34 and 86.79 respectively.
According to the report it will take approximately two and a half days to get a company assembled by entrepreneurs in Singapore while in lower ranking economies such as in countries like Eritrea it will take about eighty four days for the same process to be completed. The report determined that is has gotten a lot easier to start a new business worldwide in recent times thanks to the radical growth of the eastern world's economy. It took approximately fifty one days previously to start a business and that number has half in recent times to about twenty five days.
This report is aimed at global coverage disclosing the economic state of the countries of the world. The data that is able to be realistically collected in the lower world countries' economy determines the indicators used for the country. The report lacks certain important information that may be crucial to firms. There are two sides to a coin but this reports is made only on the factors that positively affects the economies of the world. Some information that is excluded includes the market size, security, bribery, corruption and other unlawful acts and the possible stability of micro economy.
The nations that perform the best are not usually the ones that have little regulation or less regulations and rules. The strongest nations are usually the ones that have good rules and regulations that can be determined as the best. These nations ensure transparent and efficient business function along with in their markets as well. The interest of the public is also protected by the country thanks to these good rules and regulations. The nation of Singapore needs to stay current by always upping their value and staying abreast of the competing entities regardless of the fluctuating costs of business, labor policies and slowing down of economic growth.
Switzerland has the number one competitive economy for years now with Singapore's economy right behind it. The World Economic forum is the reference that supports the claim of the top world economies. The yearly Global Competitiveness Report states the position of the world economies annually and this has been the state of the report for almost a decade now, Switzerland leading with Singapore right behind it. This will change in coming years as the Chinese economy is growing rapidly and exponentially and is expected and predicted to be the vastest economy in the world in the very near future. The global reports will be significantly different in the coming years with the increase in size of a lot of Asian countries economies. Investors will have to also keep abreast of the radical trends of the economies of the world's countries. The radical changes of the markets of the world will be significantly advantageous to a lot of entrepreneur and investors that are seeking new business venture in this time of change.