For the past decade, Singapore has led the world in being the easiest country for business. Consistently being ranked number one, the country boasts impressive conditions which most nations are still working towards.

Here’s an analysis of the key success factors leading up to this result. We’ll also cover the areas Singapore should improve if they want to extend their rule over the world for another decade.

According to the World Bank’s “Doing Business 2016: Measuring Regulatory Quality and Efficiency” , Singapore is still crowned as king because of 10 factors measured across all aspects of doing business.

However, other countries are hot on its heel. Singapore’s closest competitor, New Zealand, is actually besting them in 3 out of 10 factors. New Zealand ties with Singapore in yet another category.

What Makes a Country “Easiest for Business”?

In order to grasp the true meaning of the rankings, a clear definition of the ...