Entrepreneurs looking to launch a startup may not have the best environment in their home countries. Certain countries are far more business-friendly and are ideal places to start a new business venture.
This study of the best places to launch a company takes into account the time it takes to set up a business, the cost of living, the predicted GDP growth, quality of life, WiFi speeds, and happiness rankings. These countries are the best places to get your company off the ground.
Methodology
Starting with a seed list of 52 countries, Business Name Generator used a ranking to create this list based on the following metrics: Business tax rate, GDP per capita , Quality of life score, Cost of monthly hotdesking WiFi speeds and WiFi speeds for Singapore & Chile, Economic GDP growth, Happiness score by country , Monthly cost of living (without rent) and Number of days taken to set up a business.
Hungary
In Hungary, it only takes six days to legally set up a business. The per capita GDP is only about $16,700, but the country has a low business tax rate of 9%. It’s also poised for 3% growth in 2024, and the monthly cost of living is less than $700.
Netherlands
This country has a great quality of life, and it only takes four days to set up a new business. It has a higher tax rate at 28.5%, but it has lighting-fast WiFi and the highest happiness score of any of the countries on this list.
United Arab Emirates
With a high quality of life and a high happiness score, many people are interested in setting up their company in the UAE. The business tax rate is only 9%, and you can set up a company in four days.
Lithuania
It takes just six days to set up a business in Lithuania. However, the WiFI speed isn’t great, and the cost of living is almost $800 a month. However, the quality of life is very high, and the business tax rate is only 15%.
Romania
Romania doesn’t have a very high per-capita GDP, but it has a reasonable business tax rate of 15%. It also has a low cost of living at $628 per month. It also has a good WiFi speed and a high happiness score.
Czech Republic
It takes 25 days to get your business started in this country, and the business tax rate is 19%. But it has scorching-fast WiFi and good scores for both happiness and quality of life.
Finland
It takes only 13 days in Finland to get a startup going. The country also has a relatively low cost of living and a top score for quality of life. It has the best happiness score of any country on this list.
Bahrain
This country has no business taxes at all, and it takes just eight days to start a business. Its Wi-Fi speed isn’t great, but it has good scores for quality of life and happiness. The cost of living is only $842.
Estonia
Estonia has been turning into a high-tech business hub for the last few years. Here, it takes a mere four days to get a business started. It also has a very high score for its quality of life. The cost of living is just $894 a month.
Malaysia
It takes 18 days to start a business here, and the business tax rate is 24%. However, it also has a higher predicted GDP growth rate, and the cost of living is very low at $473.
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