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Forbes ranks UK top for business friendliness

A recent survey carried out by Forbes has found that the UK is one of the best places for setting up and running a business.

This is the 13th time Forbes has carried out its ‘Best Countries for Business’ review, and the second year running that the UK has come top of the list. The review considers 15 factors that have a significant impact on a company’s ability to operate profitably. Included on the list of factors are taxes, workforce, risk, investor protection, corruption levels, property prices, and monetary and trade freedom.

In the report, Forbes pointed out that services like banking, insurance and business services are key drivers behind the growth of British GDP. It also highlighted the fact that the UK has a highly efficient agricultural sector. Around 60% of the country’s food needs are produced, using only 2% of the working population.

Mark Zandi, who is the Chief Economist for Moody’s Analytics, commented on the results. He said:

“The U.K. has a globalised economy that is more open than most across the world in terms of trade, investments, capital flows and, until recently, immigration.”

Liverpool accountancy firms and other service providers, who work closely with businesses, can attest to the fact that the UK’s relatively stable business environment is extremely helpful for their clients. This, combined with reasonable access to capital, is making it easier for UK firms to grow and become more profitable. The fact that it is possible to access capital, premises and source the necessary workforce means that all of the ingredients for success are all readily available in the UK.

Posted by Peter
December 24, 2018
General

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