Britain crowned ‘best country in the world’ to do business

The UK has been named as the ‘best country in the world’ to do business by Forbes magazine.

In its latest set of annual rankings, Forbes has listed Britain as the number one country out of as many as 153 nations – up from fifth place in 2016.

Britain was closely followed by New Zealand, the Netherlands, Sweden, Canada and Hong Kong.

Specifically, the magazine has complimented the UK on its ‘technological readiness’ and the ‘size and education of its workforce’.

However, ‘political risk’ was seen as a weak point for Britain due to political uncertainty associated with the UK’s upcoming departure from the European Union (EU).

Nevertheless, Forbes said that Britain ‘remains attractive’, with unemployment at a 42-year low and the nation’s resilience in the face of uncertainty more evident than ever before.

Numerous commentators and newspapers have said that the high ranking should help to bolster business confidence ahead of Brexit.

John Longworth, former Head of the British Chambers of Commerce, said: “This week the CBI reported manufacturing order books at a 30-year high and now Forbes are saying we are the best country in which to do business.

“This confounds the naysayers at the IMF, Bank of England and Treasury and shows the future is bright for Brexit Britain.”  

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