Canada 'Best Country for Business'
What is the best country for business? That would be Canada, according to Forbes’ annual look at the global economy and how individual countries are performing. The index evaluates countries on property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.
Canada, jumping three spots from the 2010 survey, gets high marks for Personal Freedom (#1), Red Tape (#3), Investor Protection (#5) and Trade Freedom (#7). It also had a noticeable improvement in its tax ranking—thanks largely to a “Harmonized Sales Tax” and reduced corporate and employee tax rates.
While the US still has the largest and most technologically powerful economy, it dropped a spot into 10th due to its flirtation with a double-dip recession and a heavy tax burden—it has the highest corporate tax rate among developed countries.
The Top 10 countries on the list are:
- New Zealand
- Hong Kong
- United Kingdom
- United States
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