Thinking about starting your own business? Don’t know where to get it going? How about establishing your small business in another country?
Property registration, credit availability, as well as other important factors makes countries such as Denmark and Singapore among the best countries for starting a business.
Based on World Bank rankings, the simplest countries to conduct business in aren’t the global giants like China, India, or Brazil. In fact, none of these are in the top 10. This report ranks countries according to some key factors that are helpful in positive business dealings.
The top criteria includes simplicity of beginning a business, simplicity of getting construction permits, ease of getting electric and other utilities, simplicity of registering property, credit availability, security for minority investors, collection methods, tax rates, trading capacity across borders, and simplicity of imposing contracts and filing bankruptcy. Labor market guidelines are also judged in composing these rankings.
The highest ranking indicates that the above factors are conducive to business operations. Here are some of the countries where it’s best to do business and some info of why they are on the list and ranked at the top.
The Republic of Macedonia is in the top 10. Since 1991, when the country obtained independence, the economy of this southeastern country has really been going up. Because of government incentives, the country is homebase to headquarters to numerous companies. The IT market, specifically, has been increasing quite fast in Macedonia.
Top standards of living linked with one of the world’s most knowledgeable labor forces are among the numerous factors that make Sweden a good country within which to engage in commerce. It has a solid infrastructure, as well as strong social programs, which are big incentives too.