News

Doing Business 2020: UK consolidates its position

June 2020


In this year’s report, the UK maintained its standing in the top-10 of best places in the world to do business. Ranked 8th, it rose one place from 9th in 2019. Further, the UK is the second-highest ranked country among the influential G7 economies, and second only to Denmark among western European countries, finishing well ahead of rival European economies such as Germany (22nd) and France (32nd). 
 
The UK performed especially well in the category of Protecting Minority Investors. Ranking 7th overall, up from 15th in 2019, the UK was one of only thirteen economies to score a maximum 10 for the extent of disclosure, and one of nineteen to score a maximum 6.0 for the extent of shareholder rights. Elsewhere, the UK ranked highly in the categories Starting a Business (18th) and Resolving Insolvency (14th); its worst performance, in 42nd place, was in the area of Registering Property. 
 
More broadly, New Zealand and Singapore maintain their places in the top two, but Hong Kong moves up one place into third, with Denmark dropping to fourth.  
 
Doing Business 2020 is the seventeenth annual report published by the World Bank. It measures reforms and regulations implemented in 190 economies across the globe over a 12-month period that ended on 1 May 2019. Russell Bedford International is a global contributor to the report and has helped the World Bank in researching its annual Paying Taxes survey since 2009. Many Russell Bedford member firms also took part as regional contributors to the report. 
 
London based chartered accountancy firm Lubbock Fine, a member of Russell Bedford, was an active contributor to Doing Business 2020. Chris Sparkes, a tax partner in the firm, commented: “The UK remains one of the best countries anywhere in the world in which to do business, and behind only Denmark in western Europe. This is why the UK remains number one in Europe, and third in the world for foreign investment.” 
 
To access the full country report click here.