The team at Utility Bidder have developed the ‘Entrepreneurial Countries Index’ to profile the best countries for entrepreneurs, taking into account trade freedoms, corporation tax rates, Foreign Direct Investment (FDI), inflation rates, 1-year business survival rates and more.
You can view the research here: https://www.utilitybidder.co.uk/blog/entrepreneurial-countries-index/
The top 10 OECD countries with the most trade freedom
|
Rank |
Country |
Trade Freedom Index Score /100 |
|
1 |
New Zealand |
90 |
|
2 |
Australia |
90 |
|
3 |
Switzerland |
87 |
|
4 |
Norway |
85 |
|
5 |
Spain |
84 |
|
6 |
Canada |
83 |
|
7 |
United Kingdom |
82 |
|
8 |
Iceland |
80 |
|
9 |
Sweden |
79 |
|
10 |
Finland |
79 |
The OECD countries with the most trade freedom are Australia and New Zealand, scoring 90/100 on the latest Trade Freedom Index. The index is based on two factors: the trade-weighted average tariff rate and non-tariff barriers. Australia has strong trade ties with the rest of the world and is a major supplier to markets within the Asia-Pacific region. The country currently has six Free Trade Agreements (FTA) in force with other countries, with another eight currently under negotiation.
New Zealand has three large trading partners: China, Australia and the UK. The country has a lot of agricultural products exported to the EU, while the EU exports many manufactured goods to New Zealand. In addition, the country currently has 14 FTAs in force, with another five currently under negotiation.
Further findings from the study:
The OECD country best-representing entrepreneurship is Switzerland, which received an entrepreneurial score of 8.51. Switzerland has a relatively high rate of 9.2 business start-ups per 100,000 residents
Switzerland also ranks as the most innovative country in the OECD, earning a score of 64.6/100 on the latest Global Innovation Index. The country received its highest score (89.2/100) in the institutions category which relates to things such as political and operational stability, government effectiveness, and policies for doing business.
Columbia has the highest corporate tax rate in the OECD at 35% as of 2022/23, whereas Hungary has the lowest rate at just 9%.
The United States is the OECD country with the most business startups per 100,000 residents. There are 77,071 business start-ups in the U.S., equating to 22.6 start-ups per 100,000 residents, however, just 76.8% of these survive the first year – the 7th lowest rate of any country.
Please see the full study here https://www.utilitybidder.co.uk/blog/entrepreneurial-countries-index/
