Helen Lee Schifter believes that opportunities abound across the world to start new businesses. Entrepreneurs might want to start a restaurant in France, manufacture electronics in Japan, or focus on agriculture and forestry in Brazil. All of these countries offer exciting opportunities for entrepreneurs with varying investment levels and difficulties. But which nations are the best for both investors and entrepreneurs? In this article, we’ll examine the top 5 countries to start a business in.
The United States has long been considered a goldmine for startups and investors alike. Venture capital funding reached an all-time high of $91 billion in 2016, while total revenue growth is forecasted to reach 6% by 2023. Forbes ranks the U.S. number one in terms of ease of starting a business. The United States also boasts the most Fortune 500 companies and the second-highest gross national income on a per capita basis.
The United Kingdom is the second most popular place for startups, attracting more than £7 billion in venture capital and angel funding over the last three years. Innovative companies such as King (Candy Crush) and Deliveroo have all been founded in London, with backing from some of the world’s leading investors. Specifically, the UK’s tax laws make it a top location for businesses.
Australia is the third best place in the world for those looking to start a business. In 2016, it welcomed more than half a million foreign tourists, and its Internet of Things market alone is forecasted to triple from $1 billion in 2016 to well over $3.2 billion by 2021. Australia has the advantage of being the fifth largest economy in the world, yet it has a number of tax reliefs that keep taxes low for individuals and businesses alike.
Germany is the fourth best place in the world for startups, particularly in the life science field. Thanks to a generous public funding system, one-quarter of its companies have received public funding at some point in their life. The government is also creating new digital business models to ensure its name as a “global innovation engine”. Advantages of starting a business in Germany include its highly skilled workforce, as well as its status as a global financial center.
The fifth best place in the world for startups is Singapore. The government’s “Smart Nation” initiative has created a vibrant startup community. It encourages collaboration and innovation, while at the same time offering tax incentives for companies that wish to develop there. As the world’s largest Southeast Asian business hub, Singapore has attracted over 50 Fortune 500 companies.
Whether it is in the United States or in Singapore, Helen Lee Schifter believes that these countries offer many advantages for up and coming entrepreneurs. Aside from the tax benefits that they offer, they are also considered good places for investments and have sufficient capital backing for both startups and established companies alike. Any serious entrepreneurs should look at all the options available to them. Serious entrepreneurs should consider jumping at the chance to move to another country to find better opportunities. In today’s global economy the move couldn’t be easier.