Why Are Global Entrepreneurs Flocking to Canada?

Canada Is The World’s Best Country For Business

First Published: EntrepreneurJourney.com Oct 17, 2011

In the past, I wrote an article about Canada’s being the best country in the world. In a real world, being the best country does not usually mean the best country for business as well. However, one country on earth has defied that assumption and ranked number one as the world’s top country for business. Canada is that country and that’s why global entrepreneurs are flocking to Canada. After all, who wants to miss the rare opportunity of living and doing business in a country which is number one in all criteria of living and business? 

Prestigious Forbes magazine recently compiled their annual list of the best countries for business and Canada ranks as the world’s best country for business. Canada is up to number 1 after coming up from number 4 last year. Ford’s ranking is based on 11 criteria in 134 countries. Here are the top 10 countries for 2011: 

- Canada
- New Zealand
- Hong Kong
- Ireland
- Denmark
- Singapore
- Sweden
- Norway
- Britain
- Unites States

Here are some of factors that placed Canada as the world’s top country for business: 

- Canada’s overall tax burden went up to the 9th spot from 2010’s 23rd spot. 
- While Europe and the U.S. struggles with debt crisis and double-dip recession fears, Canada’s banks survived the financial crisis and its economy has held up well. 
-  Canada’s 1.6 Trillion dollar economy is the ninth biggest in the world. 
- Canadian economy grew 3.1 percent last year and is expected to grow 2.4 percent   
   in 2011. 
- Canada’s unemployment rate is 7.3 percent, while U.S. has above 9 percent and the
   Eurozone unemployment rate is 10 percent. 
- Canada’s reduced corporate rate is attractive and it keeps falling. 

According to Forbes, it is easy to start a business in Canada due to good investor protection and the lack of red tape, among many other factors. Entrepreneurs are taking note of Canada across the globe and it is no wonder global entrepreneurs are flocking to the best country to live and the best place for business in the world.