Last Updated on August 3, 2018
To start a new business means to make a strict, strong plan and reboot your entire life from A to Z because it is not easy, and to see it fail is like watching years of hard work and life savings going down the drain.
So first, and before you make any decision, you have to think about the goals of your new company, the target audience, and most importantly, the location.
In order to initiate your endeavor, you must consider all your options. Of course, starting a company in your home-country could be a good idea, but it may be a lot more successful if you picked a different location with inhabitants that could be more open and good for the jobs you are about to offer and the services you are going to give.
Anyway, here are the 10 of the best countries for a new startup. We hope you will find the land where your dreams could grow bigger.
The United States of America doesn’t need an introduction to its diversity and the skilled workforce it has. With a large group of banks, investment firms, and investors of funding, you have a high chance of success better than any other country.
In fact, many individuals around the world dream to start a business in the land of freedom. The best cities for a new startup are:
1 – New York City.
2 – Miami.
3 – Minneapolis.
4 – Seattle.
According to the ranks of startups from an international standpoint, Singapore is one of the top places in the world, and according to Fortune, it is also one of the wealthiest nations that impose no capital gains taxes. So technically, Singapore is one of your greatest options.
Moreover, this country has a political stability that other parts of the world lack, which is important for the sake of your safety, your business, and your dreams.
New Zealand is not only a perfect destination for tourists and vacations, it is also a great place for new startups because, from a timeline perspective, this country classifies high in its ability to incorporate businesses in a little time, like in one day!
The 2016 World Bank survey showed that New Zealand is the easiest country for new businesses. However, it might be a small country but its labor costs are cheap, and also, there are no capital gain taxes, social security, or payroll.
Norway is the perfect country for anyone who is interested in well-developed government communication and economic stability. Also, it is a highly skilled labor force in many fields like finance, technology, and design.
The labor regulations are non-flexible, but you can still register quickly for properties and the tax laws are not complicated. According to the Statistics Portal reports, the population of Norway will increase by 300,000 people in 2020.
The U.K is one of the easiest countries for new business compared to its neighbor countries because, for example, the incorporation could be complete for under $20 within one hour. Also, there are many tax benefits from both founders and investors.
Basically, your dream company would be born in the easiest and smoothest way possible. According to the Financial Times, in 2016, 660,000 companies were set up, and the numbers are still increasing.
Sweden is a gorgeous country that operates under free-market capitalism and is a comprehensive welfare state, just like Norway. This may not look as good as other countries, but it boats in low crime rates as well as in government transparency.
According to the Organization for Economic Cooperation and Development, 20 new businesses per 1,000 employees in Sweden were set up. Meanwhile, there are only 5 in the United States.
Denmark dominates the global startup locations’ list with its industrial and financial hub, as well as its capital serving. According to the U.S News Best Countries Report, businesses are capable to be quickly established with minimal costs.
Plus, it has a corporate tax rate of 24.5%. However, the gross domestic product is coming in under $46,000, which is average. However, there are highly skilled workforce and very low levels of corruption.
Luxembourg may be smaller in nature, but it has one of the world’s most competitive tax incentives. Plus, the economy is very developed! In case you are willing to move there from a different country, you will be able to profit from the significant tax benefits they have special for individuals who came from different parts of the world.
According to Expatica, the tax bases of a company composed of 22% income tax, fall at 30.36%, 7.5% municipal trade tax, and 5% unemployment fund.
If you are highly motivated by tax incentives, but you are concerned for the low corruption, then Panama may be the greatest option for you. Its location is special since it connects South America and Costa Rica, and it is one of the best leading international nations in Central America when it comes to starting a business.
According to Doing Business, Panama is classified at the number 39 on the list of Doing Business in 2018 of launching new businesses.
To have a new startup in Indonesia, you may need more time comparing to other countries on this list, but it is a very safe place to boost entrepreneurs. The government works with the International Finance Corporation to educate start-ups and boost local companies.
Based on techinasia.com, the e-commerce value was 18 billion in 2015, and it may increase to 130 million in the upcoming years. In addition to that, Indonesia will still be a perfect location for relaxation with an interesting culture to be discovered and studied.
Which ones of these countries would you like to start your new business? Don’t hesitate to share your thoughts with us in the comments section.