It’s an ideal situation in everyone’s minds to be able to start a business. However, there are more than a couple of complications that arise when you take the initiative. Even if you have all the capital investment and the idea, you still need to conduct a lot of research. This is to ensure that you don’t face problems in the future. Suffice it to say, nobody would like it if their business goes well in the start, and derails in the future. All because they didn’t factor in little things like taxes, registration, credit availability, construction permits, access to utilities, etc. Now that we have a foundation of things to consider, let’s take a look at possible places that everyone recommends. You can have a business set-up in Mauritius easily. However, if you want more then these are the ideal countries to start a business in:
Sweden:
If you’re looking for a high-tier place to start a business, Sweden is a very hospitable place. Firstly, it is attractive for business ventures because of the highly skilled labor that is available. Although they will cost, they will definitely get the job done right. Moreover, the country has one of the most inspiring infrastructures and regulations when it comes to businesses. Furthermore, social programs in the country are very supportive of new business ventures as well.
Georgia:
Another good place to consider starting a business in Georgia. Although not the top choice, the country has several benefits to offer to all. Firstly, you can register your business in a total of US $40. That should be enough to show you the comparative advantage you would have in a place like that. Secondly, Georgia is an emerging economy and is gradually moving up the ranks to prosperity. If you want to start a business with the rising tides, Georgia is the place to be.
South Korea:
South Korea is one of the top places you can start your business in. The country provides comfortable laws and judicial infrastructure and not to mention unparalleled technological advancement. For example, the internet in South Korea is undoubtedly the fastest in the world. In a world like today, when everything needs to be online in order to work, South Koreans offer connectivity. And that too, like none other. Additionally, trading across the borders of Korea is way easier than any other country. The laws are comfortable and easy to comply with. Similarly, contract enforcement in Korea encourages all businesses and governmental agencies to cooperate.
United Kingdom:
The United Kingdom is also a great place to start a business. In fact, it ranks number 7th on the list of top countries in the world to start a business in. You only need about $121 to legally start a business in the UK. If you’re an expat, you need a residence permit in order to make sure that your visa allows you to work as a freelancer. Next, you need a business plan, you can download business plans and cash flow templates from the government’s website. Once you have the legal structure of the business in mind, register yourself. Now, appoint the directors, secretaries, shares and shareholders and write memorandums. Register for corporation tax after opening up a separate bank account. You need to register with the HMRC in order to be able to conduct business in the UK. Limited companies can register with Companies House at the cost of just 12 pounds.
Denmark:
Denmark is on the front line of global progress and prosperity. With educational standards reaching new heights, policymaking and the recent digitization makes Denmark the perfect location for commerce. You can easily log in and register your business and even get your employee’s insurance registration done. All this and more, you can get for less than a total of US $100. Denmark is one of the few countries that have ‘free border’ policies. This means that trading across Denmark is as easy as it gets. Denmark is also the pioneer of policymaking as it facilitates all business corporations while enforcing regulations. Their efforts ensure that the private business sector has no problem doing their work.
Singapore:
It is no secret that Singapore is the world’s center of attention when it comes to businesses and financial investments. You can have your company formation process and your company working in the duration of days. Furthermore, the World Bank’s Doing Business Report of 2018 ranked it the best country to have a commercial dispute in. Compared to the rest of the world, even the US, in which it takes almost 420 days to resolve, a dispute; Singapore takes 150 days to do the same. This, alone should be enough to convince anyone with a sane mind and business experience to move there. Correspondingly, it’s important to note the low cost of just 26% of the claim is required to resolve the dispute.
New Zealand:
The number one place in the world to start a business in is New Zealand. And this claim is not without due justification and reasons. Thanks to the efficient online system, you can register your business in a matter of hours. Moreover, another crucial point to know is that the country managed to rise to the leading industrialized, free-market economies. And it managed to do it in the last few decades. After the recession in 2009, the country has displayed tremendous growth worthy of attention. With numbers showing a growth of 2-3% every year, New Zealand becomes the top choice for new business ventures. The country offers pro-competition policies, efficient tax codes and a political system that’s healthy for businesses and open as well. Similarly, no other country provides laws for protecting minority investors that can beat New Zealand’s.
All in all, you should consider the cost, the type of business and the future growth of your business. Suffice it to say, you need to have a clear plan in mind to be able to execute the venture perfectly.