Starting a business is a lot of work, but it’s nowhere near as much as keeping that business going once you’ve got it up and running. The statistics surrounding failed businesses are staggering and there doesn’t seem to be any relief in sight for the ratio of startups started to startups succeeding. With more opportunity than ever around the globe, how can businesses set themselves up for success from day one? One of the most important things a business owner can do is consider where to set up their shop. With so many businesses running online, you might think that location is not important but there are many reasons to think twice about where you might launch your business. We’ve put together a list of the best countries to start a business so you can ensure that you understand your options if packing up and hitting the road is a possibility for you.
When choosing a country to reside in, you want to consider lifestyle, as well as business opportunities. We’ll assume that if you are considering moving to another country to launch your business that you are open to the opportunities and possibilities that come about in such a move and we’ve held nothing back in where you might recommend you go. Denmark, for instance, is one of the top-rated countries in the world to launch and run a business. Not only does Denmark offer a hassle-free registration process, but the government is supportive and encouraging of entrepreneurs. Plus, there’s an easy trading system in place that makes it easy to export products and services out of the country. Did we mention that Denmark is beautiful? You’ll have an array of wonderful activities and experiences to enjoy when you are settled.
The United States might be under fire these days for the President’s controversial tactics and Tweeting schedules, but the “land of the free” is still one of the most popular places to form a company. San Francisco and Silicon Valley are the places to be if you run an internet operation or sell any kind of digital product, but states such as Texas don’t require corporate income tax to be paid so you can save a lot of money by choosing your state wisely. The trade agreements and tariffs are up in the air these days, but if you are doing business locally, there’s no reason to discount settling into a shared office space in the US.
Singapore is also in the top five countries in the world in which to setup a business. It also happens to be beautiful and the people are friendly and easy to get along with. If you think Canadians are polite, you’ll find Singapore is just as welcoming and encouraging of your business ideas. Ironically, Canada doesn’t make any top-10 lists as the best place to start a business, but with the internet booming and people finding opportunities regardless of location, you can really work from anywhere. Singapore offers quick registration processes and the fastest commercial dispute resolutions processes in the world - nearly three times faster than the United States.
It’s easy to say that these countries offer a great deal of opportunity and less red tape than other countries, but the truth is that they are also big countries with a lot of different areas and interests. With technology continuing to dominate, you don’t need to be limited in where you live anymore, so you might as well make the most of your business venture by finding a place that checks all the boxes for you. Consider what you want to get out of your downtime as much as you think about what you want for your business.