Entrepreneurs

The top 10 best countries for entrepreneurs in 2018

For the third year in a row, Germany is the world's best country to be an entrepreneur, according to the U.S. News & World Report's annual "Best Countries" rankings.

"The top 10 countries to be an entrepreneur have been largely unchanged for the past three years, with Germany and Japan taking the top two spots each time," U.S. News & World data editor Deidre McPhillips tells CNBC Make It.

In order to help people understand how nations are perceived on a global scale, over 21,000 respondents evaluated 80 countries by ranking them according to 65 attributes. Among those were economic influence, power, citizenship and quality of life, which collectively helped determine each country's success as a modern nation.

Entrepreneurship is the most highly-weighted bucket in the overall "Best Countries" score, McPhillips says.

To determine which countries are most encouraging of entrepreneurs, researchers looked at the following 10 attributes: connectedness to the rest of the world, education of the population, entrepreneurial, innovative, provides easy access to capital, skilled labor force, technological expertise, transparency of business practices, well-developed infrastructure and well-developed legal framework.

The rankings are part of an analysis project called the 2018 Best Countries Report, conducted now for three years by the Wharton School of the University of Pennsylvania and global consumer insights firm Y&R's BAV Group.

"The Best Countries report speaks to the effect a nation's brand can have on its economic prosperity and perceived standing in the world," Wharton professor of marketing David Reibstein said in a statement.

Here are the top 10 best countries for entrepreneurs as detailed in the 2018 U.S. News & World Report:

10. Norway

Bergen, Norway
KDG | Getty Images
Bergen, Norway

Also in the top 10 best countries for: most business-friendly, quality of life, green living, transparency, raising kids, women, most modern.

9. Netherlands

Getty Images

Also in the top 10 best countries for: most business-friendly, most modern, quality of life, best countries to headquarter a corporation, raising kids, traveling alone, most transparent countries, green living, women, best countries overall.

8. Singapore

South East Asia, Singapore, a busy pedestrian street in Chinatown
Christian Kober | Getty Images
South East Asia, Singapore, a busy pedestrian street in Chinatown

Also in the top 10 best countries for: investing in, up & coming economies, most forward-looking countries, starting a business.

7. Canada

Quebec City, Quebec, Canada.
David Chapman | Getty Images
Quebec City, Quebec, Canada.

Also in the top 10 best countries for: most business-friendly, most modern, entrepreneurship, quality of life, retiring comfortably, starting a business, most forward-looking countries, headquartering a corporation, raising kids, transparency, green living, education, women, best countries overall.

6. Sweden

The Aurora Borealis captured in a clearing in a Swedish coniferous forest.
The Aurora Borealis captured in a clearing in a Swedish coniferous forest.

Also in the top 10 best countries for: most business-friendly, cultural influence, most modern, entrepreneurship, quality of life, retiring comfortably, best countries to headquarter a corporation, raising kids, transparency, green living, education, women, best countries overall.

5. Switzerland

Zurich, Switzerland
Carl Larson | Getty Images
Zurich, Switzerland

Also in the top 10 best countries for: most business-friendly, cultural influence, most modern, entrepreneurship, quality of life, starting a business, most forward-looking countries, headquartering a corporation, raising kids, transparency, green living, education, retiring comfortably, women, best countries overall.

4. United Kingdom

Jay Shaw Baker | NurPhoto | Getty Images

Also in the top 10 best countries for: cultural influence, entrepreneurship, power, starting a business, retiring comfortably, most forward-looking, most influential, transparency, education, starting a career.

3. United States

Pedestrians carrying an American flag umbrella pass in front of the New York Stock Exchange.
Michael Nagle | Bloomberg | Getty Images
Pedestrians carrying an American flag umbrella pass in front of the New York Stock Exchange.

Also in the top 10 best countries for: cultural influence, entrepreneurship, power, most forward-looking, most influential, education, best countries overall.

2. Japan

Motion blur of busy pedestrians walking at famous Shibuya Crossing, Tokyo, Japan
Dillemma Photography | Getty Images
Motion blur of busy pedestrians walking at famous Shibuya Crossing, Tokyo, Japan

Also in the top 10 best countries for: cultural influence, entrepreneurship, power, up & coming economies, most-forward looking, most influential, green living, education, best countries overall.

1. Germany

Hamburg, Germany.
Martin Deja | Getty Images
Hamburg, Germany.

Also in the top 10 best countries for: most modern, entrepreneurship, quality of life, power, most forward-looking, headquartering a corporation, most influential, transparency, green living, education, women, best countries overall.

If you're wondering what it takes to be an entrepreneur, Harvard Business Review released a survey in 2017 which revealed six insights Harvard Business School alumni shared that anyone can use to get ahead.

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