As a modern day investor, you have to think on a wider scale when you’re thinking of starting a business. Investing in outside countries can open up opportunities that you couldn’t have had access to here in the UK. Another country may make things easy for you in terms of property rights, taxes, red tape and investor protection. In other countries, you’ll have the benefit of local innovation, technology and stock market performance.
Although the UK has featured prominently in several lists for 2016, the year ended before the true impact of the exit of the UK from the European Union could be properly understood. In the face of such a major change, it’s not yet known whether or not things will be as easy this year, as they were in 2016 to start a business in the UK.
The Top 3
- New Zealand
According to the World Bank, New Zealand is not just the best place to start a business in, it’s also the easiest country in which to do business. Forbes also ranked the country as the second best for business. You can incorporate a business in New Zealand in only one day while registering property can be done in two days.Factor in the low cost and availability of skilled labour, the low taxes among other things, this ranking starts to make sense.
Starting a business in Canada is extremely easy. It takes a single procedure and a five day waiting period on average, to register a business in Canada. To even sweeten the deal, not all businesses in Canada have to be registered e.g. sole proprietorships. There are also several sources of small business loans including government sources, not-for-profit groups and private investor groups.
- Hong Kong SAR, China
Hong Kong operates by different rules compared to the rest of China and this has ensured that it is one of the best places for an investor to start a business. The process is easy and there is no requirement for you to be a local resident. You don’t even need to have a local address. Factor in the excellent judicial system and infrastructure as well as the fact that Hong Kong has a great reputation in the world, and you have an almost perfect location.
Apart from the top three, other countries which have been mentioned extensively as far as making it easy to launch a business, include Ireland, the UK and Singapore.Above all, before you need to be 100% sure that you have an entrepreneurial frame of mind before you make the commitment to take your idea to another country.
The last situation that you want to be in is to have moved to a different country to put everything on the line to try and start a business then come to the conclusion that it’s not what you want to do. The dive into entrepreneurship is not one to be taken lightly, and you should think long and hard before you commit to anything.