A lot of people nowadays want to start their own venture and work something towards their own goals. This is very good because it makes you more confident, less reliant on others and the best part is that you get to be your own boss.
Let’s have a look at the top 15 best countries to start a business.
This country is known for its highly skilled workers, low corporate tax, and very professional work ethics. This country has a corporate tax of 17%, and it also has 0 tax on capital gain. Even you can do free trade agreements with various outside companies. The bureaucracy is low, and it is one of the wealthiest countries in the world.
This is undoubtedly one of the best countries to live in. It has a low inflation rate and high GDP, and low corruption. The skilled workforce and amazing infrastructure are a very good start for your business. Income tax in this country is higher, but it is actually for the use of their citizens. However, their corporate tax is just 22% which is much lower than in many other countries.
The country with such a low population has almost 40,000 new companies registered every year. Its currency is one of the world’s most stable currencies, and the low level of corruption is also an addition. It has high-tech production and the most sophisticated financial sectors in the world.
The government of Malaysia is encouraging many newcomers to start their businesses in this country. They have already taken up many initiatives and have also changed laws. They have encouraged the entrepreneurs and have allowed tax breaks to them. A highly skilled workforce and good infrastructure are bonus points to it.
This country is not just an ideal country to start your business but is also one of the most livable and happiest countries in the world. The Danish government is very supportive of newcomers, and you can start a new business in less than a day. Copenhagen is also known as a smart city.
Just like Denmark, Norway is also one of the most livable and happiest countries in the world. The highly developed infrastructure, less population, and educated citizens are some of the factors that make it a desired place. It has a very low rate of corporate tax which is just 22%, and this country loves technology.
There’s something about these European countries that makes them so desirable for entrepreneurs. This country has a very low population, but it’s still the best place to start your own business. It has a GDP of $274 billion which is more than many huge countries. Also, it is one of the happiest countries in the world.
8. Hong Kong
This country is considered an ideal location to set up new companies, especially for outsiders. The strong and trustworthy economy is the major factor, and the productive legal system is the major factor for starting a new business here.
This country supports its citizens like anything. If you wanna start a business here, then they will help you in every possible way. They provide government grants and tax credits to entrepreneurs. The low level of corruption and the stable economy is one of the major factors in starting a business here. Also, its corporate tax is just 15%.
10. The USA
After Canada, its neighbor is also one of the most desired countries in the world to start a new business. Many big companies like Apple, Google, Uber, and Airbnb are American companies. The environment of this country is pretty much very ideal for entrepreneurs. It has the most exciting place for startups – Silicon Valley.
11. The UK
This exciting country is highly developed, apart from being on a list for some of the unwanted news recently, but it’s still on the top list for newcomers to start their businesses. It is very easy and cheap to start a business here, and it will cost you even less than $20 to start it.
12. New Zealand
The country that has always been on the news for only good reasons has to be on this list. It is a highly developed country, and the infrastructure is just amazing. The cost of living is also manageable, and hiring highly skilled labor will also not hurt your pocket.
The GDP per person of this country is $56,489, which is very high compared to many other rival countries. It has an ideal corporate tax, and the professional work environment of this country is a very much sufficient reason for someone to start their new business here.
This country has constantly improved its ranking in the most desired places to start a business, and it is only going to increase in the future. It will only take you two days to register a business here, and it will cost you only $40 for it.
15. South Korea
The highly advanced technology is one of the most important factors why you should start your business in this country. It has highly skilled laborers who will be perfect for any startup, and the GDP of the country is also very impressive. The corporate tax is also very suitable.
Starting a business is a tedious thing to do, and it is influenced by so many factors. Things like corruption, living standard, bureaucracy, and customer base are some of these things. Hope this article gave you some insight!