Survey finds UK is the best EU country to start a company post economic recovery

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9th November 2015 11:15 - Business Support

According to research by the Legatum Institute, a public policy think tank based in Dubai, the United Kingdom is the best European country to Survey finds UK is the best EU country to start a company post economic recoverystart up a business in, with the Government’s policies aimed at getting people into work gleaning ‘incredible’ results.

However, the United Kingdom’s ranking, against 142 countries in both the EU and the wider world, has slipped to 15th from 13th last year.

The Legatum Institute’s annual prosperity index examines countries’ finances and wellbeing in order to determine the rankings.

Of the countries in the survey, Norway came at the top of the ranks in first place, closely followed by Switzerland, Denmark, New Zealand, Sweden and Ireland.

In the economic section of the survey, the United Kingdom climbed 9 places on last year, to 19th place, which marks the first time the country has beaten its pre-economic crash rating. The economic strand is calculated by examining the unemployment rate, inflation and the availability of jobs.

Germany was ranked in 5th place but only climbed four places. On the other hand, France fell to 30th place.

According to the Legatum Institute, the UK’s improved performance can be attributed to the ease of starting up a new business, as well as the number of individuals in full-time positions of employment.

On the entrepreneurship scale, the Legatum Institute ranked the United Kingdom in 6th place, as well as 1st place for people starting up their own businesses.

Within the research, the Legatum Institute flagged the vulnerability of some countries to the Islamic State by comparing its most recent findings with those relating to Iraq and Syria before the advance of ISIS.

The researchers flagged Tunisia and Morocco as high-risk countries.

The report said of the situation:

"Given recent attacks in Tunisia, this is probably not surprising, but the trend in Morocco will concern European governments given its geographic proximity and popularity among holidaymakers."

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