The TMF Group, a multinational professional services company, said Britain is among the 10 countries considered least complex for business this year, representing a jump of 15 places in the world rankings from 2021.
“It’s unusual to see such a big jump in a country’s rankings,” said Mark Weil, CEO of TMF.
“We attribute that to the COVID response and how well the UK government is able….”
Will explained that the survey did not include issues related to Britain’s exit from the European Union or the recent decline in the value of the pound.
Britain’s coronavirus measures included direct support payments to companies to keep workers on their payrolls, which did not include restrictions on layoffs during the pandemic if necessary.
Britain has also adopted relaxed tax and accounting filing deadlines, and its progress in digitizing public services has given businesses some flexibility when the pandemic hit, according to the TMF Foundation.
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