Ten Best Countries in the World to start a Business
Here is the list of top ten countries which are considered as a range of factors including the price of manufacturing costs, levels of bureaucracy, tax environment, transparency of government practices, and the extent of corruption.
Take a look at the ten countries which made the top of the list.
Canada is the only north American entry to the list. With a GDP per capita of £36,300, the high-tech industrial society has the benefits of a high standard of living and a skilled workforce. The service sector is Canada’s biggest economic driver.
Norway has a strong economy, and most communication with the government can be done digitally. Registering a property is fast, and complying with tax laws is relatively straightforward. Resolving insolvency in Norway is also low-cost, with fees averaging 1 percent of the bankrupt entity’s value.
There are downsides to Norway, however: Getting construction permits can be lengthy, and labor regulations can be quite rigid.
Further, technology in Norway can help develop foreigners’ business models, Worsoe said. In the software category, she cited a company called Less Everything, which helps entrepreneurs build out their software ideas.
Finland, following the same “Nordic model” as Norway, the country comes highest on the index for government transparency and demonstrates a very low level of corruption. As well as scoring fifth on the “Open for Business” subindex, Finland is ranked seventh in the world for “Quality of Life.”
The Netherlands, reflects the appeal of an economy with five major ports and easy access to mainland Europe. It is measured 160 markets on a scale of zero to 100 percent based on six factors.
There are costs of setting up business, hiring and moving goods; the degree of economic integration; less tangible costs such as inflation and corruption in Netherlands.
Denmark, northern Europe’s Nordic countries continue to dominate the list.
Denmark has low levels of corruption, high levels of transparency, a highly-skilled workforce, an average GDP per capital of £36,400 ($45,700), and a capital, Copenhagen, which serves as an industrial and financial hub.
5. United Kingdom
Incorporating a company in the U.K. is both fast and affordable, making it one of the easiest places in Europe to set up and run a business in.
The tax authorities understand that new companies generally aren’t profitable in their early years.
The British government offers various tax benefits for investors, founders and employees.
While Ireland has a long track record in attracting large multinational companies, its reputation for attracting High Growth companies is now also flourishing.
Since 2010, over 100 High Growth global companies have established their operations in Ireland.
3. Hong kong
Hong Kong provides easy business set-up for foreign business owners and entrepreneurs, solid infrastructure facility protects businesses to develop efficient business operation.
A simple tax system that permits maximum earnings and minimum costs a fair and transparent legal system. A free economy means the sky is the limit.
2. New Zealand
In New Zealand, incorporating a business takes only a day, and registering a property can be done in two. The workforce is skilled and educated, and labor costs are low. In terms of taxes, there are no payrolls, social security or capital gains taxes. It is considered one of the easiest countries to do business.
New Zealand, small as it is, has set up several business structures: An entrepreneur can apply to be a sole trader who operates a business individually or, in several farming industries, can be part of a partnership among professionals who benefit from sharing operational costs.
Sweden, like Norway, Sweden operates a system of free-market capitalism combined with a comprehensive welfare state. While its tax environment is therefore not as favorable as other nations, it scores highly for government transparency and is largely free of corruption.
Source: Web Desk