A determining factor in the proliferation of global business lies within government regulation. The fate of many nations’ prosperity is written by their leaders, and there is a tremendous variance between those that are open to new opportunities and those whose policies and administrators are the primary hinderance for growth.
Every year, the World Bank conducts a “Doing Business” survey reporting on the ease of doing business throughout the world. Parameters of proficiency include opening and closing a business, registering property, getting credit and trading across borders. Administrative efficiency along with burdensome laws are taken into considering in determining each country’s rank. New Zealand, Singapore and Hong Kong top the list, while Venezuela, Niger and Guinea flounder at the bottom.
Opening a business in Singapore takes 3 days, 6 days in the US and 160 in Congo, Rep. Surveys like this help to project where growth track the effects of changing governance on business. In analyzing the rise in global business, criteria such as the type the World Bank focuses on, is not to be overlooked by companies looking to have a broader international base and workers looking to mobilize their job searches and entrepreneurial ambitions. Nor is it to be overlooked by government, which should be constantly working to improve economic conditions and produce and amend legistaltion that will help do so.
These types of analytics act as a reminder of the intimate relationship between government and business, and provide tremendous insight into predicting the trends of global business and anticipating where growth with manifest around the world.