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Belgium comes in 6th place out of 13 countries when it comes to attractiveness for Small and Medium Enterprises (SMEs), according to a new barometer published on Thursday by insurance company Euler Hermes.

The indicator assesses the business climate for SMEs and takes into account several aspects within the field: administrative burden, job market flexibility, taxation, access to credit, export opportunities and competition. Canada is in first place in the ranking, with Hong Kong, the USA, Holland and Singapore appearing ahead of Belgium on the list.

Belgium comes in sixth, faring better than the UK, Germany, Poland and Ireland. Making up the end of the list is France and Slovakia, with the Czech Republic coming in last position.

The barometer was carried out one the basis of a survey conducted by Euler Hermes in partnership with Bibby Financial Services of around 2,300 randomly selected SME directors in the second quarter of 2019.