Although the reality of starting a business is being able to do it anywhere in the world, starting a business in an environment or space that is tactful towards making sales and getting you ‘on the map’ is probably better.
Opening a business in the snow of Canada for instance, unless you’re close to a city or town, won’t be able to support your finances. Same goes for starting a business in an area where the economic climate is very low. If you place your idea in such an environment, in comparison with placing it in an environment where it can thrive, you’ll definitely see the difference. Not only your business’ annual revenue but also its status, popularity and the amount of traffic that become new customers or clients.
So, just which countries do make the list and is the list ever consistent? The answer is no. The best countries to start a new business change annually. Some hopefuls remain, but due to the economy’s constant fluctuating algorithm, it’s never same.
Perhaps you could guess which countries are ranked as the best. The U.S., France, the United Arab Emirates, England or Australia? The answer is no again. Although some of the most successful and rich countries in the world, none of these, in fact, made it to the list.
The following, however, did.
The Best of the Best for Business
Moving away from London, Denmark made 2018’s list as the number one country to start and grow a business in, in the world. Although small, Denmark is considered one of the world’s best entrepreneurial countries. The reason is that its government makes it quite easy for anyone to start a business, not just its economy.
As one of the countries down under that made the list, being much smaller than Australia, it’s quite a shock that the Aussie land didn’t make the list. New Zealand, however, had an impressive 20 years of investment from its government which transformed the entire economy to become industrialized, a free-market, as well as extremely globally competitive.
Ranking as another best from entrepreneurial endeavours, Ireland turns out to be one of the top countries when it comes to personal freedom as well. What makes it even more accessible to market and grow a new business, is its incredibly low taxes on business. Plus, it’s a beautiful country too.
Not to forget about the great Hong Kong… As a territory of China, Hong Kong has one of the lowest tax burdens when it comes to business with lower government requirements. Taking a look at Alibaba, you could’ve guessed Hong Kong made it to the list.
Well, of course, Canada made it to the list. This country has had a major economic transformation from being mostly rural to evolving into an urban and industrialized environment that’s perfect for business. Canada thus ranks as one of the best countries to start a business.