Once again, America has found itself well outside the top 10 of Forbes’ annual list, this year slipping one spot to 23rd place.
It didn’t always used to be this way: in 2006, the U.S. held the number 1 place.
But then the global financial crisis happened, forcing the government to bail out the financial and auto industries and create a wave of regulations.
“Falling scores on trade and monetary freedom, along with rising levels of red tape and bureaucracy are behind the decline for the world’s largest economy,” said Kurt Badenhausen, a senior editor at Forbes.
The rankings were based on 11 criteria, including property rights, innovation, taxes, technology, corruption, red tape and stock market performance.
Data on taxes was gleaned from the World Bank, which published a list last month ranking the U.S. at 36th out of 190 countries, based on tax rates and the administrative ease of compliance. The nation’s average corporate tax rate, at 44%, was above the 40.6% global average.
Topping Forbes’ list this year was Sweden, which moved up four spots to clinch the lead for the first time. The Nordic country still has relatively high income taxes, though its previous center-right government reduced the corporate rate to 22% before it was ousted in 2014. Forbes also noted the country has relatively low public debt levels and open free-trade policies.
It helps that Sweden is home to successful companies including Ikea, Volvo and H&M, though it also has become a haven for tech startups. Skype and Spotify, for example, were both founded there.
Rounding out the top five were New Zealand, Hong Kong, Ireland and the UK, the latter of which has recently cut corporate taxes.
Chad was again ranked at the bottom of the 139-country list, with Gambia, Haiti, Yemen and Venezuela also in the bottom five.
The full list can be viewed here.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
