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The US offers the best opportunities for UK construction firms, new research has found. The study by accountant BDO Stoy Hayward found that the UK and Canada were joint second most attractive construction markets. Next on the list were China, Japan and Saudi Arabia.

BDO Stoy Hayward ranked G20 international markets by the opportunities they offered, including construction planned and ease of doing business.

Richard Kelly, head of construction at the firm, said: 鈥溾�淲hile the effort required to break into the USA, and other international markets, may appear to be daunting, even taking just a tiny nibble of this enormous cake could be enough to satisfy the greediest of construction business appetites.鈥�

He added: 鈥淭he idea that the UK and Canada could offer more potential than China, Saudi Arabia or even India is startling. It clearly demonstrates the importance of carrying out a rigorous analysis of opportunities and balancing them with the barriers to entry.鈥�

BDO Stoy Hayward considered the following which make a country attractive for inbound construction:

• The upcoming construction projects the country has planned
• Whether a country has the means to fund the construction projects it has earmarked
• The focus on taxation 鈥� including low rates of corporation tax, the flexibility of using shareholder debt, the presence and ease of obtaining tax relief, the time taken to prepare tax returns and the overall number of tax payments
• Strong credit ratings
• The ease of doing business
• Low corruption levels
• Few regulatory barriers.
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