Top 3 Leading destinations to start a Business
Why Starting a business is not everyone’s cup of tea. It demands a highly intuitive mindset, deep analysis of the market trends as well as cost efficient techniques giving higher productivity in long run.
However, “going global” is the ultimate goal of every investor or entrepreneur to expand and flourish his business. Going beyond your home country is pivotal to gain all the essentials required for a business to succeed. We bring you top 3 leading countries of the world, standing high-headedly on all elementary parameters and listed as the ideal destinations for running businesses overseas.
- Singapore
One of Asia’s economic power, Singapore the island country stands at the first position for providing a healthy environment to start a business. The country protects the minority investors ranked second and enforced contracts which ranked it at the third position. A country with a populace of high disposable income, a wealthy demography and a strong labor force.
It has a less percentage of 2.1% unemployment rate with a huge population of 5.6 million. It’s a perfect gateway for international trade having four official languages such as Mandarin, English, Malay and Tamil for addressing the communication-restraint and attracting a huge investment from native nations.
A densely populated country with huge portion of population resides in urban settlements is a good choice for setting up a highly productive business. In recent times, it has also simplified its construction permits making their risk-based approaches better. Besides that, it has an affordable airline service, as an investor it is good for you to explore nearby markets- Thailand, Malaysia, Indonesia and many more.
2. New Zealand
Continuously remaining on top position, New Zealand stands at second position creating a better atmosphere for businesses to establish. Standing out on every aspect an investor looks upon before investing or establishing a business, New Zealand become an ideal destination.
GDP of the country stands at $249.99 billion USD. Highly ranked in the indicator “getting credit”, which provide an in-depth information about a country’s strengthened legal rights and credit complexities.
In registering property and protecting the minority investors New Zealand is ranked at second and third respectively. On the basis of online streamlining, it takes half a day to start a business in New Zealand, which is a shortest period of time in the world. While peeping more on taxes compliances, there is no payroll, social security or capital gains impositions.
3. Hongkong
A country with a free market economy, which is considered to be a part of China is growing unexpectedly over the decades. Being ranked at the third position, Hongkong become a vibrant destination for setting up a business. Whether engaging with dealings of construction permits (ranked first), payment of taxes (ranked second) and making access of electricity easier (ranked third), Hongkong hitting all the balls that matter.
Over the years, it has brought various changes in its economy. Highly educated economy well designed, and finely constructed transportation and communication infrastructure keeps on adding stars in Hongkong’s economy.
With a free-market economy the country is highly depending on international trade and commerce. Everything whether food or raw materials all are being imported from foreign countries. Interestingly, it does not impose tariffs on imported goods except the certain commodities. It has made “access to credit” easier to attract businesses around the world.
- Culmination
Running a successful business required various key factors such as tax implications, compliance treaties, paperwork necessities, a cheap yet efficient human resources, grants & permits, scope of merger & acquisitions and many more.
The above-mentioned countries are in lines with all the factors and becoming improvingly better than any other countries. However, the cost of living may be proved higher in these countries but all in all, these are highly fruitful places to be.
Must Read: –
