30 Oct 2014
Tax registration changes and corporate income tax reforms have put the UK in eighth place in the World Bank’s yearly Doing Business survey.
Previously in tenth place, the UK now only ranks behind Singapore, New Zealand, Hong Kong, Denmark, Korea, Norway and the US for ease of business operations.
The World Bank said: ‘Over the past decade, as Companies House has increased its data transparency, electronic procedures and free resources for business founders, the number of registered companies in the UK has doubled’.
The report shows that the economies which performed best are those with governments that have created rules to facilitate marketplace transaction, rather than those with no regulation at all.
Augusto Lopez-Claros, director of the World Bank’s global indicators, said European counties dealing with high debt burdens may seek to create more private sector jobs and boost their growth potential through business-friendly reforms.
The full report can be viewed here.