THE UK has been named the best country in the world for business in 2018 for the first time ever.
Britain scooped the top spot of the Forbes list of 153 countries, after coming in fifth place last year.
Forbes said Britain "remains attractive" for businesses as Brexit gets underway.
Kurt Badenhausen of Forbes said: “Much uncertainty remains with the official exit from the EU scheduled for March 2019.
“Some UK companies are holding off on investments to see how Brexit effects trade relations, and growth is forecast to slow in 2018, but Britain’s business climate remains attractive.”
Another strength the UK boasts was low unemployment.
Forbes said the UK performed especially well in technological readiness (fourth) and the size and education of its workforce (third).
Suren Thiru, head of economics and business finance at the British Chambers of Commerce: "The UK's ranking as the best country for doing business is a testament to the hard-work and resilience of business communities across the UK.
Mr Thiru said: "The UK remains a great place start and establish a business with low barriers to entry and a good reputation for business-friendly regulation and enforcement.
The ranking system was based on 15 different factors such as property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape and investor protection.
The only metric where the UK did not receive a place in the top 25 was political risk, where it received 28.
For the third year in a row, New Zealand took second place. Netherlands, Sweden and Canada followed after to make up this years top five.
The US came in at number 12, however, this is up from 23 due to improvements in technological readiness, innovation and trade freedom.
This year Forbes altered how they construct the table, taking out stock market performance and adding workforce, infrastructure, market size, quality of life and political risk.