The world we live in is more connected than it ever was before. We’re not just talking about the phenomenon of the virtual workplace or the business model that depends on telecommuters. Never before was it easier to set up an international office or even migrate in order to find a more lucrative business opportunity? In order to capitalize on this fact, a surprisingly great number of countries decided to boost their startup-friendliness, so that they can capitalize on this talent and ideas. With that in mind, here are some of the top countries for developing startups.
The main reason why so many entrepreneurs decide to go to Thailand in order to launch a startup is due to the fact that local rules and regulations allow for such a thing to be completed in as little as five days. We’re talking about the issue of starting a business through completely legal means. Aside from this, Thailand, as a developing country, nurtures an entrepreneurial culture and has a fairly low cost of living. This means that by migrating your entire team there, you can sizably reduce the overhead. Lastly, Thailand has a surprisingly modern infrastructure and various conveniences, which may be pivotal in this effort.
Throughout its rich history, Singapore was one of the most influential business hubs in the area. Why? Well, because of its amazing strategic location, that provides the place with the outstanding connectivity to the rest of the region. Moreover, both tax frameworks and trade agreements tied to Singapore go in favor of entrepreneurs. Just take into the consideration the fact that the highest corporate taxable income in Singapore is at 17 percent. Needless to say, this is one of the lowest taxable corporate income in the world, which would, on its own be enough of an incentive for an aspiring entrepreneur.
A lot of people probably didn’t expect to encounter a first-world country on this list, however, there’s a reason why Australia is special. First of all, some of the largest companies on the planet agree that Australia is a perfect testing ground for the western world in term of trends and products. This means that if you launch a successful Australian startup, you’ll see much more consistency once you decide to make your business international. Aside from this, Sydney, as a city, is one of the region’s major business hubs and it’s a home to some of the world’s top immigration lawyers to help iron out any possible visa issues foreign startups might encounter. This could also allow you to make an international team much easier.
As of recently, the Portuguese government set up a €200m venture capital fund in order to attract foreign investors. This alone made this European country into a land of opportunity for a lot of potential entrepreneurs out there. Moreover, since the Brexit, a lot of London-based enterprises have decided to relocate and the majority of them chose Portugal as their target destination. Add to this the fact that Portugal is currently on the biggest expansion they’ve encountered since 2000 and what you’ll get is the full picture of just how ideal this location is for your next startup.
Sadly, we failed to incorporate all startup-friendly locations to this list or even go into specifics of most promising regions and cities for aspiring startup owners. Nonetheless, by sticking to any of the locations listed above, you simply cannot go wrong and are bound to give your startup a competitive edge over those companies that have decided to stay location-bound. The world of modern business is hostile and unforgiving, which is why you need to use every advantage available, even if it’s the geographical location of your startup.