Canada Ranked #1 Place To Do Business By Forbes in 2011 but what about 2012?
By: Ainsley Brown
‘O, Canada.’
As a proud Canadian it always warms the heart to see our often non-headline grabbing country grabbing the headlines, especially south of the border.
Given our low key nature Canadians often complain – with some justification – that we don’t get enough credit for our position in the world. However, what the Forbes raking shows is that Canada is not only good, it is the best – as far as a place to do business is concerned. Canada was “the only country that ranks in the top 20 in 10 metrics that we considered to determine the Best Countries for Business.” Forbes actually uses 11 factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.
Canada with its $1.6 trillion economy ranks the 9th largest in the world in fact moved up from its 4th place showing to grab the number one spot – no mean feat given the economic climate and the stiff competition out there. One factor that helped Canada move up was the ability of its major banks and financial system to weather the global financial meltdown. The stability of the Canadian financial system comes as no accident but is the result of some very prudent and stringent regulations making the financial houses in Canada conservative by nature.
Say it with me now: ‘O, Canada.’
However, all of this was last year, how will Canada *fear this year? At this point the only answer that can be confidently given is: we just have to wait and see.
To see the Forbes story click here
