A study carried out by the World Bank has revealed that the UK is the eighth best country in the world for doing business.
According to the research, New Zealand is the best place in the world to do business, with Singapore coming in second place and Hong Kong in third. Denmark comes in fourth, followed by the Republic of Korea, the US, Georgia, and the UK. Norway occupies ninth place, whilst Sweden holds tenth place.
The survey results mean that the UK is the second-best place in the EU to do business after Denmark. It is also the second-best place in the G7 to do business after the US.
Commenting on the study, David Malpass, Group President of World Bank, said: 'Governments can foster market-oriented development and broad-based growth by creating rules that help businesses launch, hire and expand.
'Removing barriers facing entrepreneurs generates better jobs, more tax revenues and higher incomes, all of which are necessary to reduce poverty and raise living standards.'