The 17 Easiest Countries to Become an Entrepreneur2:10 PM
Creating your business is never easy or devoid of stress. But there are places where starting the adventure of your dreams involves fewer r...
Creating your business is never easy or devoid of stress. But there are places where starting the adventure of your dreams involves fewer restrictions than elsewhere. So before you decide to startup, you should know where is the easiest place to be an entrepreneur.
The World Bank produced a report on the best and worst places to be an entrepreneur, measuring the regulation of 10 business-related areas. This includes a connection to electricity, transfer of ownership and obtaining loans.
Here are the 17 countries that lead the ranking:
17. Belgium: 94.49 -Although Belgium ranks high enough for start-ups, the country is fishing regarding the transfer of ownership, which ranks the country 131st. The procedure is long, taking an average of 56 days.
16. United Kingdom: 94.58 -The United Kingdom tax system ranks it in 10th place. The country also has the sixth best protection regime for minority investors, according to the World Bank.
15. Sweden: 94.64 -Sweden has jumped in the ranking since it became easier to transfer property and a mechanism to report errors on land plans was introduced.
14. Estonia: 95.13 -Estonia is an ideal place to do business quickly. It takes an average of three and a half days to start a business.
13. Kosovo: 95.54 -In Kosovo, it is very easy to pay taxes. Everything happens online, both for VAT and contributions to social security. This system also allows deducting more expenses for the calculation of the corporation tax.
12. Jamaica: 95.61 -Only two procedures are required to start an activity in Jamaica. On average, it takes 10 days.
11. South Korea: 95.83 -A traditional internet connection and good access to the technologies dope the place of South Korea.
10. Ireland: 95.91 -The favorable tax regime for companies, the fifth best in the world, offers the country a high place in the ranking.
9. Armenia: 96.07 -Armenia has increased its access to credit by adopting a law on secure transactions which establishes a centralized and modern guarantee register.
8. Georgia: 96.13 -Georgia has strengthened protections for minority investors, developing shareholder rights and clarifying ownership and control of companies.
7. Australia: 96.47 -Australia is one of the best countries to obtain building permits, being ranked second in this category.
6. Singapore: 96.49 -Singapore facilitated building permits, streamlined procedures and improved one-stop online.
5. Azerbaijan: 97.74 -Azerbaijan has simplified the process for obtaining an electrical connection by introducing the possibility of getting connection plans. This reduces the time it takes to determine the location of a new customer.
4. Macedonia: 98.14 -The country has simplified the settlement of bankruptcies by amending voting procedures in the event of restructuring and giving more room to debtors.
3. Hong Kong: 98.20 -Hong Kong allows starting a business at a lower cost by reducing the registration fees of a company.
2. Canada: 98.23 -Canada is an ideal country for starting a business. The operation takes only 36 hours and involves only two steps.
1. New Zealand: 99.96 -The state abolished the check levy making the payment of taxes easier. New Zealand has also lowered employer-paid injury rates.
If you need assistance to decide where you should start your company, we can help you choosing the right place for your business. If you are from outside the US and willing to build a venture inside the state, here are the options you should check out.
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