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6 Best Countries To Start A Business In 2020

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6 Best Countries To Start A Business In 2020

Let’s get one thing straight – going global is an excellent idea when it comes to starting your own business. You get two very important benefits. First of all – you diversify your market and get a new customer base. Second, you greatly reduce your dependence on any conditions imposed upon you by your local markets. Amazing opportunities await you when you invest outside your own country, but you do need to be smart about it.

We have taken the liberty of writing up this little article, to assist you in choosing the best market available to start your own business overseas.

Switzerland

Let’s start with a banger. Good old Switzerland. With a GDP of around 679 billion dollars, a GDP growth of 1.4%, as well as very low unemployment and inflation rate, it’s a strong and stable economy that just wants to be invested in.

Namely, Switzerland is famous for its stable political climate, its skilled workforce, and the highly developed manufacturing industry. Specializing in high technology and knowledge-based production, as well as low corporate taxes, Switzerland is an amazing choice.

However, do note that this is probably the least affordable option on the list when it comes to potential investments. Still, its strong infrastructure and low corporate taxes more than makeup for it.

business meeting

Mexico

Next on the list, we have Mexico. A very strong GDP of 1.1 trillion, with a 2.3% GDP growth, a 2.8% inflation rate, Mexico’s economy has been growing slowly and steadily for some time now. What makes it stand out, however, are the extensive business registration reforms that have been going for some time now.

It’s much easier to start your own business legally and efficiently here now. Also take into consideration the fact that its labor force is very strong, willing to work, and relatively affordable.

Of course, one issue might be the high crime rate. However, this is not that big of a problem for the simple reason that its financial districts and centers are safe. These dangerous crime rates are usually localized to certain specific areas.

Australia

Australia has been going strong for some time now. With its 1.323 trillion dollar GDP, a growth of 2%, and a relatively low inflation rate, it’s a great place for opening up a business. Couple that with advances in education, a stronger and more skilled workforce, solid industry, and you got yourself a winning combination.

We would like to put some extra emphasis on Tasmania, however. With a burgeoning economy that is getting stronger and stronger, a strong tourist presence and great real estate options, moving to Tasmania and starting your own business might be exactly what you need.  It’s a very start-up friendly area, as well as very welcoming to digital nomads.

business Australia

Sydney, Australia

New Zealand

New Zealand, has a very small inflation rate, with a GDP of 211 billion, and a pretty good GDP growth of 3.6%. It’s wonderfully balanced with a strong and skilled labor force that is actually pretty affordable, basically no payroll or social security taxes, and a system so efficient that you can incorporate your business within one day.

It also possesses a strong tourist industry, great and beautiful nature, and lots of culture and fun. You can basically incorporate your business in the morning, and have time to take a quick midnight dip by your nearest beach.

Singapore

Singapore has a GDP of 313 billion, a practically non-existent inflation rate, and a small unemployment rate. Now, Singapore is very publicly stable, having some of the wealthiest populations in the entire world. Carrying a strong labor force, no dividend or capital gains taxes, many free trade agreements, and easy registration, Singapore is an amazing place to invest in if you have the means and the funds.

Also take not that you can easily trade and work with other markets, like Malaysia, Indonesia, Thailand, and the Philippines.

Singapore business

Singapore

Norway

Norway has a solid GDP of 399 billion, with a relatively slow (but still real) GDP growth of 1.1. %. Its inflation and employment rates are a bit higher than the others on this list, but there are several factors that make it a great place to start your business. Namely Norway allows you excellent communication and contact with the government, making everything straightforward and simple.

Furthermore, Norway is very technologically advanced, with a great deal of skilled labor and strong educational backgrounds. They have also been a strong player in the European Union, with even stronger trade ties. Finally, the populace here is relatively wealthy, with lots of disposable income.

Conclusion

And there you have it folks – starting a business overseas is a very lucrative endeavor if you stick to our list above. Whether you want to test your luck in Singapore, or see what kind of success you can find in Norway, don’t worry, we are certain you will find what you are looking for.

Nina is a digital nomad, yoga aficionado and a travel enthusiast with a distinctive taste for home decor. She's passionate about learning new things and sharing meaningful ideas.

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