Choosing the right country for your new business is never an easy decision, but luckily for you we’ve compiled a list of the top five countries in the world where startups simply thrive.
Starting your business in your home country may not always be the best decision. Sometimes forming your business in a different country can set you apart from your competitors and, at times, allow you to tap into markets you would not have otherwise. But finding the right country for your type of business isn’t easy which is why we’ve made it simple by giving you the five best countries for startups.
- United States
The United States is one of the most business-friendly countries in the world. The U.S. business culture encourages free enterprise and competition and embraces innovation and the cultivation of new ideas. The U.S. stands as one of the top ranking countries in the world for its overall competitiveness and ease of doing business, especially for startups.
With all the major firms setting up their headquarters in the U.S., including all the venture capital and investment firms, startups will have no problem finding sources of funding. U.S. consumers are among the smartest and most educated when it comes to technology and luxury goods making it so much easier for startups to tap into new markets and customer-bases. The U.S. business culture encourages entrepreneurship and success, it’s the perfect starting ground for any startup.
- United Kingdom
As the financial hub of Europe, the United Kingdom has a very strong infrastructure for doing business that businesses of any kind can thrive in. Aside from the very advantageous corporation benefits, terms of tax cuts and visa, afforded to businesses who operate in the United Kingdom, they also have a diverse and talented labor pool from which startups can draw from. Their consumers are also some of the most advanced in the world and always up to try the next best thing. The United States is home to countless successful startup businesses for good reason.
- Hong Kong
If you’re thinking of starting your business anywhere in Asia, Hong Kong is the place to do it. Many people believe China is the best option, but with way more corporate restrictions than there are benefits, Hong Kong is a much better option. Hong Kong is favorably placed in terms of the World bank and it doesn’t hurt that it has a trustworthy economy. With world-class infrastructure, a productive legal system and a beneficial corporate and tax environment, Hong Kong is one of the best countries in Asia for startups and expanding businesses.
Sweden is known as the third most business-friendly country in Europe. It has a strong business culture and is known for its global competitiveness and commitment to innovations. Sweden also has very transparent corporate regulations and governance making it perfect for startups and new business.
Sweden is home to a multicultural society with people from all over the world, making its customers one of the most diverse and open customer bases businesses will ever encounter. Aside from its diverse customer base, strong banking system and sound public finances, Sweden’s well-performing economy makes it one of the robust countries in the world to operate a business in.
In the span of the last twenty years Singapore has grown to be one of the most developed countries in the world, rendering it one of the top places for entrepreneurship and development for startups looking to make a quick name for themselves. Singapore is considered one of the most stable financial hubs around the world, especially when it comes to the financial and technological industry. With strong international trade and investment, Singapore is the most competitive Asian country and one of the best countries for startups wanting to make it big.
The business environment is entrepreneur-friendly and with special access programs that attract new and old business owners, Singapore is by far one of the easiest places to start a business.
Making the right choiceIt’s always important to consider the restrictions and benefits of starting a business in different countries before taking the final steps to register a business. Once you do, there’s no going back so make sure you decide wisely.