Singapore labelled ‘one of the best places to do business’ | 28 February 2013
Singapore has been named by accountancy firm Grant Thornton as the best place in the world to do business.
Taking top place in the Grant Thornton Global Dynamism Index, Singapore apparently has the most enterprising economy of the 50 analysed by the firm. Finland, Sweden, Israel and Austria made up the top five.
Factors taken into consideration when assessing each country include the quality of its workers, the ease with which companies could access finance and the area’s technological innovation. According to iexpats.com, Singapore’s success is down to its ‘favourable financing environment with a strong regulatory system’.
One of Grant Thornton’s representatives shared their thoughts on why the country did so well, stating: “Singapore has done so well because it is so well-placed to do business between the East and the West. In addition, there is an open and transparent financing environment which helps support business and economic growth.”
The revelation may well encourage international or domestic investors to consider Singapore for their next start-up; potentially surveying the commercial property the region has to offer. Given the ‘light corporate tax burden’ of the country, it may prove a particularly fruitful location for entrepreneurs.
Although Grant Thorn admitted places like America have steadfast business growth opportunities, Singapore came out on top as the best all-rounder for business, tax-news.com confirmed.
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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