These days, the entrepreneur that wishes to launch a new venture can think beyond their native soil when it comes to launching a new venture. With long distance travel becoming easier and quicker by the day and improved communications shrinking the business world, it is a good idea to consider what country would best suit your new business idea.
The World Bank recently released a report listing the best countries in which to start a new business, rating 185 economies across the world in terms of their lack of red tape, taxation and the general straightforwardness of getting a new company up and running. Here are the top three.
1. New Zealand
For the second year running, New Zealand took the top spot, rated as the best country in the world for a new business. As soon as you register your business' name online, you can start applying for tax related account and incorporating the company. Essentially, starting a business is a one day, one step process that costs just NZ$163.55 and comes with no minimum capital requirement.
2. Australia
It seems the English speaking nations of the Southern Hemisphere really do have their ducks in a row when it comes to encouraging new business. The Aussies lowered the registration fee for businesses a few years back (to AUS$426) and it has encouraged a flurry of new business activity down under.
3. Canada
A notable lack of red tape characterises Canadian business practices at all levels, and starting a company is no different. A simple, one step online registration process is all that is needed. In five days time you will have your company number and can begin trading.
4. Singapore
Singapore is a real business hub, with a culture that is very focused on business. One of the most significant parts of the three step process of starting a new company on the island, is making a company seal, which will be used as an ink stamp signature on official documents.
5. Macedonia
This one might surprise you, but in recent years Macedonia has become a really attractive prospect for new business investment. One of the main reasons for this is a general lowering of the obstacles to those looking to launch a company with a low capital requirement and a short online application procedure.