Research continues to clearly show that there are three critical areas of public policy that support and foster entrepreneurial economic development:
1- Lower tax rates and a simple tax system
2- Minimal regulatory hurdles for new businesses to start and fewer regulations effecting operating small businesses.
3- Strong protection of private property rights.
All of these factors are part of the The World Bank's annual Doing Business report. The 2008 version finds that the top five countries for ease of doing business are:
1- Singapore
2- New Zealand
3- United States
4- Hong Kong
5- Denmark
In terms of progress from last year, "Eastern Europe and the former Soviet Union have surpassed East Asia in the ease of doing business."
You can read a detailed overview of the report here.
