Starting a new business is as exciting as it is daunting! Lots of variables come into play, making it hard to predict how successful you’ll be. Still, you can change certain factors to make it more likely your business will be a hit. The country you base your company in will be one of these factors!
Simply put, some countries are better suited for businesses than others. They may have better tax laws, more opportunities, a better employee market, etc. A business that fails in one nation might succeed in another. Keeping that in mind, let’s find the best countries to start a business in.
This Scandinavian country is one of the best around for businesses. It’s very easy to register and incorporate your company in Denmark — the entire process takes a couple of days, compared to weeks in some countries. The tax laws here are very business-friendly, and it has some of the best recruitment rules in the world. Essentially, employers are given more flexibility when hiring or firing employees. Therefore, this lowers the recruitment costs, making it easier to scale your business.
England is an excellent country to start a business in because of one city alone; London. This city is home to many businesses — both big and small. There are countless opportunities within the city and it really caters to innovation. Plus, the immigration laws are relatively easy for a foreigner to navigate, particularly if you’re moving there to work. All you need is a lawyer for your UK visa application, and you’re basically done. This makes it a lot easier to move your life across to England to start a new business. Also, you’ll find a rich talent pool in England, so hiring a team for the company won’t be a challenge.
The wonderful country of Singapore is much more than a backpacker’s paradise! It has no capital gains tax, which is a huge advantage for business owners. Singapore also boasts some incredible investment opportunities with some very powerful people keen to pump money into new businesses. It’s a highly competitive market, the labor force is very strong and affordable, and it’s perfectly placed to help you tap into the massive Asian markets.
Lastly, you have the peaceful nation of Switzerland. There are many things to enjoy about this country that makes it a hotspot for new businesses. For one, the workforce is highly skilled and very intelligent. It’s also a country specializing in banking, which is beneficial for your business’s financial side. Switzerland is notoriously stable in a political sense, which is excellent news for any entrepreneurs. A stable political climate means the economy remains very sure of itself. It can be expensive to start a company in Switzerland, but the benefits outweigh this concern.
If you want to start a new business and unlock its potential, consider moving to any of these countries. If you happen to already live in one of these places, then you’re in luck! Still, don’t be afraid to pack your bags and seek out new opportunities if it means you have a greater chance of success.