ChatBlog
Canada Gets High Marks from World Bank
Every year, the World Bank releases an “Ease of Doing Business” analysis, which ranks 183 different countries based on certain economic indicators. In its most recent “Doing Business 2011” report, Canada was ranked number 7 for “ease of doing business,” with Singapore ranked number one, and the United States ranked number five.
The rankings are based on several economic indicators, intended to provider a snapshot overview for potential entrepreneurs interested in starting a business, and for businesses seeking to expand their global customer base. Key indicators, along with U.S. and Canadian rankings include:
| Ease of Doing Business | Starting a Business | Dealing with Construction Permits | Registering Property | Getting Credit | Protecting Investors | Paying Taxes | Trading Across Borders | Enforcing Contracts | Closing a Business |
|
|---|---|---|---|---|---|---|---|---|---|---|
| Canada | 7 | 3 | 29 | 37 | 32 | 5 | 10 | 41 | 58 | 3 |
| United States | 5 | 9 | 27 | 12 | 6 | 5 | 62 | 20 | 8 | 14 |
The Commerce Department reports that less than one percent of U.S. businesses are exporters, despite the fact that 70 percent of the world’s purchasing power is located beyond U.S. borders. Based on Canada’s high marks from the World Bank, businesses might want to consider looking to Canada as a source of new business opportunities. To help get you started, you might want to check out the U.S. government’s export.gov website, which has detailed information available that is specific to export opportunities in the Canadian market.