Research by card payment solution’s provider Paymentsense reveals the top 27 countries around the world to start a business.
Starting a business can be an exciting endeavour, but getting through the first five years is challenging. The cost of rent, consumer demand, beating the competition, and keeping your cash flowing are often tricky things for SMEs to juggle.
Based on factors including business survival rates, yearly salary, population, and the employment rate in that year in each country area, they worked out which country around the world offer the best environment for prospective SMEs. If you’re thinking of embarking on a new venture this year, take a look at the below best countries in the world to start a business. Ireland takes third place with an impressive company survival rate of 80.48%, proving the luck of the Irish is anything but a myth.
According to the ranking the USA is the best country in the world to set up a start up in. This is closely followed by Belgium and Ireland in 2nd and 3rd place.
Norway ranks 6th for average yearly pay and 8th for employment rate!
Norway made the top countries to start a business for its extremely high average yearly pay ($51,212.21) and high employment rate (74.80%). The country’s continued initiatives to support it’s SME’s are surely paying off, solidifying the country as an attractive location for prospective business owners around the world.
The top 27 countries are: