Top 10 Countries for Business in 2014 – Smarter Finance Journal

Top 10 Countries for Business in 2014

moneyDespite a $16.7 trillion GDP (good enough for roughly 1/4 the global total), the US does not quite make the Top 10 in Forbes’ list of the best countries in the world for business. The superpower did make the top 20, however, clocking in at 18 on this year’s annual compilation.

For the United States, it’s a continued slide in the wrong direction, marking the fifth straight year America has slipped in the worldwide rankings. A few of the reasons for the decline would be, according to Forbes, the fact that there are currently 130 new federal regulations for starting a business, as well as ranking 81st in monetary freedom worldwide.

But now that we’ve gotten the United States out of the way, it’s time to direct a little focus on the rest of the world, and figure out what it is they’re doing right to rank in the current top ten.

As stated by Forbes, the ranking system is determined “by grading 146 nations on 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal/trade/monetary), red tape, investor protection and stock market performance.”

The data for the published list was accrued through various reports from organizations such as Freedom House, Heritage Foundation, Property Rights Alliance, Transparency International, World Bank and World Economic Forum.

Click through to check out the top ten Best Countries For Business in 2014. See the full list of 146 countries right here.

10: Finland

GDP: $260 billion
GDP per capita: $35,900
Innovation Rank: 1
Tax Burden Rank: 20
Monetary Freedom rank: 41

9: Switzerland

GDP: $646 billion
GDP per capita: $54,800
Innovation rank: 2
Monetary Freedom rank: 3
Tax Burden rank: 17

8: Singapore

GDP: $296 billion
GDP per capita: $62,400
Tax Burden rank: 5
Red Tap rank: 6
Innovation rank: 9
Monetary Freedom rank: 13

7: Norway

GDP: $516 billion
GDP per capita: $55,400
Tax Burden rank: 14
Innovation rank: 15
Red Tape rank: 22

6: Canada

GDP: $1,825 billion
GDP per capita: $43,100
Red Tape rank: 2
Tax Burden rank: 9
Innovation rank: 22

5: Sweden

GDP: $552 billion
GDP per capita: $40,900
Innovation rank: 7
Monetary Freedom rank: 8
Red Tape rank: 29

4: Ireland

GDP: $221 billion
GDP per capita: $41,300
Tax Burden rank: 6
Monetary Freedom rank: 11
Red Tape rank: 19
Innovation rank: 20

3: New Zealand

GDP: $181 billion
GDP per capita: $30,400
Red Tape rank: 1
Monetary Freedom rank: 2
Tax Burden rank: 21
Innovation rank: 23

2: Hong Kong

GDP: $272 billion
GDP per capita: $52,700
Tax Burden rank: 4
Red Tape rank: 8
Monetary Freedom rank: 9

1: Denmark

GDP: $324 billion
GDP per capita: $37,800
Innovation rank: 11
Tax Burden rank: 12
Red Tape rank: 23
Monetary Freedom rank: 25

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