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UK 'best country for business' in 2018 - Forbes annual rankings

An annual ranking has declared the UK to be the best country for business in 2018, with Forbes claiming the country has risen in its rankings from fifth in 2017 to first this year.

The information specialist declared the UK was inside the top 25 nations in each of the metrics it judged, except for political risk.

An article for its magazine which launched the rankings said the country scored ‘particularly well’ on technological readiness (fourth) and the size and education of its workforce (third).

It judged 153 countries on 15 factors including, property rights, innovation, taxes and red tape.

The report pointed to the current dominance of the UK's financial services sector and investment by top US technology firms, including Apple, as major positives for the country. It also cited low unemployment as a benefit.

Forbes' Kurt Badenhausen said: "Much uncertainty remains with the official exit from the EU scheduled for March 2019. Some UK companies are holding off on investments to see how Brexit effects trade relations, and growth is forecast to slow in 2018, but Britain's business climate remains attractive."

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