UK locals have one more reason to entice them to set up their own companies. Two established business rankings has rated the UK as the top place in the world to do business.
The country earned the top spot in the 2005 Milken Institute Capital Access Index ranking, ahead of Hong Kong, Singapore, and the United States.
Last year, the UK ranked third in the Index. Its top ranking was achieved because of the country’s growing and vibrant equity market.
The said index is based on the financial premise that efficient financial markets – which is measured by making funds accessible to entrepreneurs who can then utilize it to grow and sustain their companies
– are the key for long-term growth.
According to the Milken Institute, the index only stresses that top-ranked countries have an open, efficient capital market, exceptionally performing financial institutions, and few obstacles to the competitive trading of goods and services. The Institute further said that countries that lack the said elements can harm the ability of entrepreneurs to build and grow their businesses – which then stops job creation and economic growth.
Further reiterating the UK’s prime environment for entrepreneurship – the city of London ranked first in the European Cities Monitor (ECM) survey conducted by Cushman & Wakefield and Healy & Baker. The city has taken the top spot for third consecutive year.
Some of the important factors that lead to London’s selection as the top city to locate a business in Europe include access to markets, international transport links, availability of qualified staff, telecommunications, and languages spoken.