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Latest News / Malaysia ranked 3rd best place to start-up globally

 

The 2017 Best Countries rankings has named Malaysia the third-best country in the world to start a business, with the UK one of the top five countries in the world for entrepreneurship.

Shell LiveWIRE country Malaysia ranked third after Thailand and China in the Best Countries to Start a Business category. The ranking highlights that in Malaysia it only takes an average of four days to formalise a business and costs approximately 6.7% of the average income per capita. Noting that over 50,000 businesses were started in 2014, the report highlighted the value of a recent online business registration process influencing a boom of start-ups, and making entrepreneurship more accessible. Other highly ranked Shell LiveWIRE countries included: Indonesia, 5th place; UK, 14th place; and, the Netherlands in 15th place.

In the Entrepreneurship category, the UK ranked 4th, scoring highly across all sub-categories. In particular, it led the rankings for global connectedness, having a well-developed infrastructure, an educated population and technological expertise. The Netherlands also ranked highly in 10th place.

Categorising entrepreneurship as an attribute ‘relevant to the success of a modern nation’, the sub-categories identified the qualities that support strong entrepreneurship within a country as, among others: connectedness; education and skills; entrepreneurial behaviour; innovation; easy access to capital; and, technological expertise.

View the full ranking here.

 


 

Malaysia ranked 3rd best place to start-up globally
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