• The World Economic Forum ranked each country according to its business environment and innovation.
  • The United States took the No. 1 spot.
  • The ranking considered the cost and speed of starting a business in each country, as well as attitudes toward risk, and the willingness of companies to embrace disruptive ideas.

If you're looking for the best place to build a business, you may not have to look far.

The United States was ranked No. 1 in "business dynamism" in the World Economic Forum's 2018 global competitiveness report on Tuesday, scoring a global high of 86.5 points out of 100 in the category.

The business dynamism ranking factored in several metrics, such as the cost and speed of starting a business in each country, the attitudes of entrepreneurs toward risk, and the willingness of companies to embrace disruptive ideas.

"An agile and dynamic private sector increases productivity by taking business risks, testing new ideas, and creating innovative products and services," the report said.

"In an environment characterized by frequent disruption and redefinition of businesses and sectors, successful economic systems are resilient to technological shocks and are able to constantly re-invent themselves."

Take a look at the best places in the world for innovative businesses:

25. Czech Republic

Score: 70.2

24. Slovenia

24. SloveniaFlickr Creative Commons/Simon Bramwell

Score: 70.3

23. Thailand

23. ThailandFlickr Creative Commons/Marco Verch

Score: 71.0

22. South Korea

22. South KoreaPOOL/Reuters

Score: 71.6

21. Taiwan

21. TaiwanFlickr Creative Commons/LBY

Score: 72.4

20. Switzerland

20. SwitzerlandHarold Cunningham/Getty Images

Score: 72.6

19. Malaysia

19. MalaysiaFlickr Creative Commons/Mohd Fazlin Mohd Effendy Ooi

Score: 73.8

18. Belgium

18. BelgiumGetty Images/Ian Walton

Score: 73.8

17. Hong Kong

17. Hong KongFlickr Creative Commons/James Cridland

Score: 74.5

16. Singapore

16. SingaporeSuhaimi Abdullah/Getty Images

Score: 74.7

15. Australia

Score: 75.2

14. Japan

Score: 75.7

13. Canada

13. CanadaJeff Vinnick/Getty Images

Score: 76.0

12. New Zealand

12. New ZealandDianne Manson / Stringer / Getty Images

Score: 76.4

11. Iceland

11. IcelandREUTERS/Ingolfur Juliusson

Score: 76.6

10. Ireland

10. IrelandAndrew Couldridge/Reuters

Score: 76.9

9. Norway

9. NorwayRagnar Singsaas/Getty Images)

Score: 77.0

8. Finland

Score: 78.3

7. United Kingdom

7. United KingdomReuters/Suzanne Plunkett

Score: 79.0

6. Denmark

6. DenmarkReuters

Score: 79.1

5. Israel

5. IsraelLior Mizrahi/Getty Images

Score: 79.6

4. Sweden

Score: 79.8

3. Netherlands

3. NetherlandsLaurence Griffiths/Getty Images

Score: 80.3

2. Germany

2. GermanySean Gallup/Getty Images

Score: 81.6

1. United States of America

1. United States of AmericaJeff Golden/Getty Images

Score: 86.5

-- This post originally appeared on  Business Insider.