When starting a new business, it may seem obvious that some countries are better to begin in due to their socio-economic status, such as China, for example. The abundance of people, cheap commodities, and plenty of raw materials makes China, along with India and Brazil, great places to start up.
The truth is, however, that due to the sheer amount of paperwork necessary to get a successful business started within these countries, it may not seem worth it at all.
There are, however, a number of countries that are incredibly easy to start a new business in.
According to a business report from the World Bank, Denmark makes a great place to start a new business in large part thanks to its ease of digitisation. This allows the easy registration of a new business, along with employee business registration.
With a small fee, this can all be done in a single day. Trading over the border is also incredibly easy in Denmark, thanks to it having a free border. The government also helps here, allowing the private sector to continue on as much as possible without any interference.
The same report from the World Bank found that the small country of Singapore is another great place to start a new company, thanks to its economy that focuses on providing a safe environment for all business.
One example of this is its ability to resolve commercial disputes within the court system within an average of 150 days, which is the shortest time on the planet, especially when compared to countries like Myanmar, which can take up to three years on average for a dispute to be resolved.
3. South Korea
As a fast-growing hub of commerce and globalisation, South Korea has become a bastion for budding entrepreneurs when taking into accounts such factors as electricity availability, trading over borders, and the enforcement of contracts.
Internet is also a large factor to consider, as South Korea currently boasts the fastest speeds in the world and the widest coverage, making it a goldmine for those that intend to put a lot of online advertising and marketing into their business.
And thanks to its strategic locations near to mass-producers like China and India, South Korea is a good place to get started.
4. New Zealand
The World Bank found that New Zealand ranked the highest of all countries in the world in terms of starting a brand new business.
The report found that it only takes a few hours of a business-owner’s time thanks to a completely online process, all of which can be done from a computers t home, and allows the user to get in a quick game of bingo Australia.
New Zealand has also spent the last few decades transforming their economy from an agrarian economy to one that’s a leader in the industrialised, free market economy, even outpacing Britain. The country emerged from a recession in 2009, and in that time it has grown by 2 – 3% every year without fail. It also protects minority investors, and provides a safe environment for a new business to prosper efficiently.