Best Countries to Start a Business in

Starting a business in the right place can result in you building an unstoppable venture in less than five years’ time. 

Now, that doesn’t mean that you don’t have to act smartly and be extra business savvy, no, exactly the opposite, but the right legal system in the right country can give you access to very skilled people who know what they are doing, without having to spend hundreds of thousands in yearly salaries. 

Small business

So, when you have the opportunity to start a business in whichever country in the world, which one would you choose? Are the United States the right place to start a business in 2020? Well, as it turns out, not really. 

But while many of the countries that you’d want to start a business in are also some of the best countries to live in, we think you’d still be surprised by some on the list. 

Now, without spending any more time on ramblings let us get started with country number one on the list. Namely, Thailand. 

Thailand has ranked the world’s best country to start a business according to more than 6,000 decision-makers. 

When the study to determine which was the best country to start a business in 2020 started, there were five different factors that were taken into consideration — bureaucracy, affordability of starting a business, the cost of manufacturing, access to capital that would allow you to start a business, and how well a country is connected to the rest of the world. 

Well,  couple these five factors with the fact that Thailand is a thriving tourist destination, with a very well-developed agricultural sector and manufacturing and you start to see why it’s no wonder that the country took the first place in the study. 

Maybe the only drawback is the fact that the country has very low unemployment rates, meaning that finding the right people for the job can sometimes be harder than expected. 

Singapore is quickly becoming one of the go-to choices for savvy entrepreneurs from around the world. 

With a gross domestic product of more than $300 Billion in 2017, the country of Singapore is obviously thriving. But numbers are only half the story. Every successful business is as successful only as its employees are successful. 

Well, for businesses operating in Singapore, they have access to more than five and a half million people who’re above averagely skilled. The country is also experiencing among the world’s most stable economic climates, making it a very desirable place for entrepreneurs to base their company there. 

New Zealand is the perfect place for businesses looking for skilled people without breaking the bank. 

With a GDP growth of three percent and $44,000 GDP per capita, New Zealand is a thriving country that is worth investing in. 

Moreover, registering a business in New Zealand takes less than a day, and incorporating one can take as little a couple of days!

Not only that but the New Zealand state has made it extremely easy to research any industry in the country as it regularly performs free to access statistics about every major industry or business niche.

There are also studies about the spending habits of New Zealanders, and this can save you a lot of money if you aren’t sure if this is a market you want to operate in. 

Switzerland is at the heart of Europe, making it the go-to place for business people who don’t want to get lost in the legal system. 

Known for being situated at the heart of Europe, Switzerland has always been the go-to choice for white-collar businesses. 

With a powerful banking system and a very stable political climate, Switzerland is a very appealing country to start a business in. Of course, the very transparent legal system and almost nonexistent corporate taxes make Switzerland tax heaven at the heart of one of the world’s most developed continents. 

Not only that, but Switzerland also has an exceptionally well developed transport infrastructure, making traveling across the country a breeze. 

Canada has improved significantly when it comes to the manufacturing and mining sector. 

Coming to the first American country on the list and it shouldn’t be a surprise that we went with Canada. 

The country has been exceeding its development of the manufacturing and mining sectors. What makes this even better is the fact that Canada and the United States have a dual-sided trading policy, which opens a huge market for Canadian businesses. 

On top of all that, Canada is one of the countries with the most stable political climates. 

Starting a business in 2020 is no less risky than starting at any time in history. But we now, more than ever, have the power to start a business in a safe environment. It’s like hacking our way to success. Which country do you want to start a business in? Let us know!

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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