Which is the best country to launch a startup? Business Name Generator has the answer.
Every country is different, and not all the countries give the right opportunity to launch a startup. With the help of Business Name Generator, let's find which is the best country to launch a startup.
The website has analyzed 50 countries considering business tax rates, economic GDP growth, and the cost of startup procedures to determine the optimal location for a startup. The study also looks at each country’s happiness score, the cost of living, and quality of life to find out where is home to the most content employees, helping drive productivity and growth.
Based on these parameters, we find the top ten of best countries to launch a startup according to the site.
In deep, in Czech Republic new business procedures costing just 1.1% of GNI (Gross National Income) per capita, it’s one of the least expensive places to start trading and labor costs are also reasonable, with salaries averaging $1,800 per month. In Finland businesses are taxed a standard 20% and registering a business (startup procedures) costs just 0.7% of GNI per capita, so costs are relatively low from this perspective. In Sweden the cost of launching a startup being just 0.5% of GNI per capita. However, business tax in Sweden is slightly higher compared to the Czech Republic and Finland at 20.60%.
Estonia comes fourth position in this startup index. The Northern European country has a reasonable average salary figure of $1,200 per month and the cost to start up is just 1% of GNI per capita. However, the average monthly cost of living is $829.90 without rent, leaving little disposable income to spend. In Slovakia startup costs equalling 1% of GNI per capita, which is on par with Estonia. Although the labor costs are higher ($1,550 per month on average), and the cost of living excluding rent totaling $660.40 per month on average.
The United Kingdom placed sixth in the overall ranking, beating all other G7 countries, including The United States and Germany. The island country is the only one where business startup procedures don’t cost a penny. On top of this, the business tax rate is currently fixed at 19% on capital generated. In the Netherlands business leaders should be aware of the elevated labor costs with average monthly salaries costing $3,900. On top of this, the corporate tax rate is 25.8% – 6.8% more than in The United Kingdom.
Similarly, Austria charges business taxes of 25% on capital generated – the third most taxed location in the top 10. Entrepreneurs should also keep in mind the startup procedures in this country, which are currently at 4.7% of GNI per capita – the highest in the top 10 ranking overall. In Denmark business start-up procedures cost just 0.2% of GNI per capita, which contrasts sharply with Austria’s 4.7%. However, employing staff could prove to be costly for start-up founders, with Danes typically earning $5,900 per month on average. Finally, Portugal: the nomad hotspot has one of the highest business tax rates in the world at 31.5%, which is 12.5% more than The Czech Republic. However, startup procedures are reasonable at 1.9% of GNI per capita and the monthly cost of living averages $626.10 with rent excluded.
He has been writing of technology & innovation for more than 25 years, spending his time in the spasmodic search & write of useful and inspirational contents for managers and entrepreneurs.
Favorite quote: never believe what you think.