What are the best countries for starting a new business?

Juliet D'cruz

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What are the best countries for starting a new business

Starting a business in a new country can be challenging. But starting a business in an international country offers unique rewards and experiences that you might not find in your home country. Hence it is imperative that you don’t just limit yourself to finding out gold rate today Bidar or whichever city you are in and waiting for the right moment to invest. In this modern online world you must invest your time to find out about various countries that are offering opportunities to start businesses in them. So in order to help you expand your horizons based on various issues of ease of doing business report we have made a list of some of the best countries for doing business. 

  •  Singapore

Singapore ranks second overall, and it’s in first place for ease of paying taxes, a measure of how many tax payments businesses make in a year, how long it takes to prepare and pay them, as well as what percentage of profits businesses pay in taxes. The city-state is also one of only two economies—the other is Hong Kong—where starting a business takes less than half a day.

Singapore has improved its practices around getting credit by improving company credit scores; it has strengthened minority investor protections by requiring all public companies to have at least two independent directors, and it has made it easier to register property by developing an online platform enabling businesses to submit documents electronically.

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  •  Hong Kong

Hong Kong rose one spot this year and comes in third overall thanks to high rankings on four indicators: starting a business, dealing with construction permits, getting electricity and paying taxes. In Hong Kong, it takes just two procedures (half a day) and $275 to start a business. A Global Talent Acquisition company might help here to streamline the process and reduce the cost of hiring, payroll and red tape around it.

  •  Denmark

The rest of the Nordic countries—Norway, Sweden and Finland—are also in the top 10, putting them ahead of all other regions in terms of best places to do business. Along with Canada, they all scored highly on categories such as ease of starting a business, getting credit and protecting minority investors.

  •  New Zealand

New Zealand continued to be one of the world’s friendliest environments for entrepreneurs, holding onto its third spot from last year. The country ranked first in terms of resolving insolvency and second in terms of getting credit, paying taxes and enforcing contracts. New Zealand also ranked well in the categories of starting a business (seventh place) and dealing with construction permits (sixth place).

  • India

India ranks amongst the top 10 countries in the world in terms of its GDP and purchasing power parity (PPP). These factors make India an ideal place to start your business in case you are looking forward to setting up your business operations abroad. Also, with FDI (Foreign Direct Investment) policy changes being made by the Indian Government every now and then, it has become easier for foreign businesses to set up their operations in India. Foreigners can now invest 100% in industries like telecom, retail sector and banking that was earlier reserved for Indian companies only. Additionally government is creating new opportunities in traditional investment channels as well. For instance if you keep track of things like gold rate Gujarat or Mumbai you would know of opportunities created by things like digital gold and sovereign gold bond scheme. All of these factors are really turning India into a land of opportunity for budding entrepreneurs.

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  • Norway

Norway comes in at number five on the list for overall ease of doing business. It is placed first for protecting minorities when investing, second for trading across borders, paying taxes, and enforcing contracts, and third for getting electricity and resolving insolvency.

  • Canada

Canada ranked third in protecting investors, starting a business and getting credit. The country also scored well for resolving insolvency, dealing with construction permits and trading across borders. Government officials say they will continue to attract foreign investment by improving infrastructure, easing barriers to trade and securing an educated workforce.