No matter what business you wish to start, there will always be hurdles in your way as you get everything ready. One of the biggest hurdles is the economic climate of the country you choose to start your business in. Some countries are known for being excellent business bases, while others are widely considered poor ideas.
Starting your business in a certain place will play a role in how much tax you save, as well as potentially affecting your sales and profits. Some entrepreneurs decide to expand their small businesses and open chains in different countries to reap the different rewards. Regardless of whether you’re expanding, or just want to find a good base for your business, here are the top-rated countries for business this year:
Those of you unfamiliar with Ireland may assume that it’s part of the United Kingdom. In fact, the island of Ireland is split into two separate sides; Northern Ireland and the Republic of Ireland. It’s the Republic that we’re interested in today, as there are many reasons it’s a great place to do business. Immediately, there’s one simple benefit that will definitely please everyone reading this; it’s an English speaking country.
So, there’s no language barrier to get around if you want to start a business there. It’s probably one of the smallest countries on this list, with a tiny population of just a few million. However, one of the main things that’s great about Ireland is the business tax laws there. To say they’re heavily in favor of corporations would be an understatement.
As a result, many of the worlds biggest companies have bases set up in and around the capital city, Dublin. If you start a business here, then your expenses could decrease, meaning your profits will be doubling! Get it?
Dublin…doubling…that was a little joke, but the fact remains you can spend less money on tax here, which will benefit your profit margins. The economy here is small and independent, with loads of young, skilled workers eager for jobs. As you can see on https://www.localenterprise.ie, these are just a few of the many reasons people are deciding to start their business here.
Are there any particular businesses that will suit this country better than others? Generally, you can pretty much start whatever business you want, but, the technology sector is booming over there right now. Lots of big tech companies are basing themselves there, so it’s becoming known as the place to be for tech. If you run a technology-based startup or have ambitions of doing so, this could be a match made in heaven for you.
Spain is a country that’s well-known for its sunny weather and delicious cuisine. But, did you know it’s also rapidly becoming one of the best places to set up a new business venture? The country has been through a lot of tough times in the last decade, being hit badly by the financial crisis in 2008.
However, it’s slowly been regaining its place amongst Europe’s elite and has seen fantastic increases in GDP over the last few years. In fact, the economy has been moving on an upward curve since around 2014. This is also a country that’s eager to lower unemployment, meaning they welcome foreign businesses and investors to come to the country and create more jobs.
What’s more, the costs of hiring employees in Spain isn’t that much either. There are sites like http://www.asesoria-alicante.es/en/ that can provide more details on Spanish employment law, which is well worth reading up in if you choose to move your business there. All things considered, this is shaping up to be a brilliant country to either start a new business in or open a chain for your existing small business.
There are plenty of business ideas that are well suited to this country and its economy. Some of the best ones revolve around the food and drink industry. Spain is a big exporter of things like wine and fruit, opening the door for business opportunities around the country. Thanks to the booming tourism there, it’s also a great place for real estate businesses to get involved in too.
We touched upon the UK earlier while talking about Ireland, but the country itself deserves a place on this list. Reports on https://news.sky.com, claim that many sources have declared the UK as the number one place to do business at this moment in time. This may shock many of you that have been following British news for the last year or so. Brexit is a big thing, with the UK keen on leaving the EU.
This has created a sense of political uncertainty, which is the only downside to the UK market right now. However, it still remains one of the easiest places to start a business, with decent tax laws for corporations too. There are plenty of big cities like London, Birmingham, and Manchester that always present multiple business opportunities.
Not to mention the education in the UK is of a very high standard too, with loads of top rated universities such as Oxford & Cambridge pumping out highly trained graduates that are eager to work. So, finding employees won’t be difficult, and you may not have to pay massive amounts of money either.
With regards to the best business ideas that work well in the UK, then you’re looking at things based on services. It’s an economy that’s well-known for financial services, with loads of massive banks and insurance companies setting up shop in London.
However, it’s also quickly becoming a brilliant place for marketing and new media-related startups too. Places like Birmingham and Manchester are very media-orientated, with plenty of new marketing businesses starting up every year.
While the first three places on this list are located fairly close to one another in Western Europe, we travel to the other side of the world for New Zealand. The chances are you’ve only heard of this country because of their world-famous rugby team. It’s a fairly small nation surrounded by water, which seems cut off from the rest of the world at first glance.
There was a time where this was an awful place to start a business, but government changes have revitalized the entire country over the last decade or so. They’ve made it exceptionally easy to start a business and gain funding in this country. Not only that, but the tax laws are some of the easiest to understand and abide by, ensuring your company doesn’t do anything wrong.
There’s also an investor policy in New Zealand that grants you resident status. So, if you invest money there in starting a business, you can become a fully fledged New Zealand national, and enjoy the benefits that come with this.
Your options are pretty much wide open here when it comes to starting a business. What I will say is that you can maybe target the massive popularity of rugby and other sports here. Either create a small business targeting those markets or use the various teams and clubs to your advantage by sponsoring them!
Are you keen to expand your business and open a new chain in a different country? Or, are you thinking about starting your first every business and want to know the best economic climate for doing so? Either way, these four countries are the best for businesses this year.
But, be warned, just because they’re set up to help you succeed, doesn’t guarantee you any success. You still have to put in the hard work and dedication to grow your company and achieve the high life.