Starting your own business is the dream of you may have along with millions of other people around the world. You may have a fantastic idea that you think can be successful, beneficial and make a lot of money, but you need to have the right atmosphere around you in order to execute this properly. This goes far beyond just having the right amount of starting capital to get you off the ground; there are plenty of other factors you need to consider as well. That is why it is easier for you to run a successful business in some countries than it is in others. Here are the top 10 countries to be an entrepreneur so you can see where you need to be to have the best chances to get your business off the ground.
A number of factors go into to determining a great place to be an entrepreneur, and Australia has one of the best places when it comes to starting a business. Most people are able to get a business started in Australia in a relatively short amount of time, some times as little as two days, and at a very minimal startup cost for typical fees. The only downside when considering Australia for starting a business is that business owners do tend to pay a higher tax rate than other businesses in other countries, which may be enough to keep from some people from starting a business of their own here.
Starting a business in the United Kingdom generally takes about 2 weeks of time and there are relatively few procedures that you need to go through in order to establish your business in the UK, making it easier for you to get started. However, surveys have shown that the majority of people in the UK work for larger businesses of 250 employees or more and a larger percentage of people are more reluctant to try and fund a business on their own, perhaps due to the higher percentage of difficulty in getting a business loan to start up an organization in the UK. Still, the UK provides ample opportunity for those seeking a chance to be their own boss and run their own business.
The U.S. provides a great opportunity for those looking to start their own business and a person can get a business up and running relatively quickly and with just a small investment in licensing in such, depending on the industry you are working in. The media is also very supportive of entrepreneurs in the U.S., giving those in this country an edge in opportunity to help them get ahead of the competition that may exist in other countries. Many people in the U.S. also seem more likely to be willing to take a risk to start their own business, even though there seems to be a higher risk of failure in the United States for small and medium-sized businesses across the board.
The French government has worked hard in recent years to help make entrepreneurship more feasible for those who are interested in it and this makes them one of the top countries today in which to start a business. France changed laws back in 2009 to make the process faster, easier and with fewer taxes, fees and paperwork so that more people might be interested in starting their own businesses. This has helped to spur people, with a huge increase seen in the number of entrepreneurships seen in the country. France also has a higher success rate for those that are seeking business loans, making it more likely that people will seek out this type of opportunity.
South Korea ranks as one of the most affordable places to launch your own business, making it much easier for people in the country to get started since there are very low fees involved. Most people can have everything they need to start a business in as little as a week and there are more businesses located in South Korea that can be classified as small businesses (with employees numbering 50 or less) than any other country on this list. While the opportunities are favorable in South Korea, they are kept lower on the list because there seems to be a greater fear of business failure that keeps people from starting a business of their own in South Korea even though the environment in the country is ideal. This may provide even better opportunity for those in South Korea who are hungry and looking to get started on their own.
While Ireland has had its ups and downs economically in recent years, it still ranks as one of the top countries to consider for starting a business. While the numbers of new businesses has seen a decline in Ireland, it is still one of the prime locations and offers a fast typical start up time of a business, with procedures needed at a minimum, the typical time to get started at around 2 weeks and a very low cost needed in order to start a business. Ireland also looks favorably on entrepreneurs and the generally have a good standing within the country. To go along with all of that, there is also a high success rate of start-ups, with many seeing positive growth in the first three years that they are in business, making it easier to get financing from interested parties.
Canada has one of the easiest processes existing when it comes to getting incorporated and starting a business, with just one step required for the filing of incorporation and this can be done online to streamline the process even more. While there are forms to fill out and fees that you need to pay to get started, the entire process generally takes only about 5 days and only costs around $200. Businesses in Canada are also taxed at a lower rate than similar countries such as the United States and France, making them a very desirable location for starting a business whether it is a large endeavor or a small one. Canada has one of the best rankings when it comes to the ease of doing business around the world and there seems to be plenty of opportunity to start a business in the country.
The small country of Singapore has long been considered as one of the best locations for entrepreneurs and they continue to be one of the top countries when it comes to starting a business of your own. Singapore is well-known for great business practices, including the enforcement of contracts and the ease of trading across the borders of the country. It is not only easy to start a business in Singapore but it easy to get investors as well thanks to a system that provides solid protection to minority investors in companies. This can make things much easier for you to get the proper financing that you may need to help you get your business of the ground and running well in a shorter period of time, giving you all the opportunities and chances you may need.
Some may be surprised to find India on this list, but India ranks very highly in a number of key areas when it comes to starting a business and the government works hard to make the process easier and more feasible. People in India have shown a much stronger willingness to self-fund a business, meaning they are more likely to take a chance to try to get a business off the ground than what may exist in many other countries around the world. The entrepreneurs in India have also shown a much stronger desire to have their own business and a drive to make it succeed, leading to relatively low failure rates of new businesses in the country and a much higher rate of business activity from the onset of the business moving forward, giving them an even better chance to have success as a business.
New Zealand has long been considered one of the best areas in the world to start a business. New Zealand offers a relatively simple process to get your business started, with the only paperwork being required a simple application to the Companies Office of the government of New Zealand, and this can all be handled electronically today. With just one day required and a very low fee needed to start a business, you can have a certificate of incorporation for your business the same day you apply for it. New Zealand is also known as one of the best countries when it comes to getting credit or business loan, which is crucial today in helping to get your business up and running. They also have clear laws and regulations where property and investors are concerned; making it easier for you to get the money behind your business that you may need to get started. New Zealand is also constantly trying to make reforms to their business regulations so that it can be easier for you to conduct your business as you need it. All of this has led to New Zealand being ranked as one of the best places to be an entrepreneur in the world today.
So… who won?
No matter where you may live in the world, if you have the creativity, a great new idea and the toughness and desire needed to start your own business, you can find a pathway to success by executing your plan and seeing it through. There is a great deal involved in getting a business up and running and the willingness to do so and take some risks is what can help lead you to get ahead of others in your field of interest or business genre despite your location.
While it may be easier for you to start a business in certain countries versus others around the world based on the differing regulations, taxes and funding that may be available, with the use of the Internet today you can have access to a global economy and audience wherever your primary business may be located. Some of the factors used to determine which countries may make it easier or more successful for you can make a difference to you in some way and you may want to consider relocating to start your business in a different area because of the opportunities available to you, but if you really have the drive to have your own business and the vision to see it all through, you can be located anywhere in the world and still rise to be the successful entrepreneur that you have always hoped to be.