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Checklist for Starting a Business

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Business besides us

Postby Dagore В» 12.04.2019


Last Updated on January 20, by Frank Moraes. Most people live their whole lives in the country they were born in. But there are good reasons to look around the world and see if your business might be better located somewhere else. What are some of the most important indicators that a country is good for business investment and growth? The intricacies that go into making a country lucratively viable for business investment and another one simply bad for that kind of investment are deeply rooted in the basics of economics.

As a business leader, or at least someone interested in running a foreign business or investment, understanding some, if not all of these intricacies will put you in a better position to make the right investment decision. It will, at the very least, give you a clear indication of the best and worst countries for business. Say for example, if you had invested heavily in France and are keeping track of the CPI, then you may notice that the inflation in that country is rising.

An informed investor would know that this might indicate an imminent hike in interest rates by the central bank. Knowing that this kind of hike tends to hurt your equities, you might decide to protect yourself by reducing your holdings in the country for the time being. They should only act as a starting point for further research into specific fields and business niches. Yes, there are still foreign regulations, taxes, and policies to navigate but thanks to technology and the free flow of information through the internet, these requirements are now easier to find and understand.

Just because you own a small company in the US or the UK does not mean that you have to think locally. You can easily expand and make your company a global brand.

Although the challenges exist, the potential rewards far outweigh any impediments that you might come across. But before you consider starting a business in a different country, you need to do your research.

Find out what kind of cultural differences might make that market averse to your brand and products. Find out what kind of policies the government has against your particular brand of business and see if there is a viable potential for your business. And with good reason! They say numbers do not lie and as things stand, the United Kingdom, despite all that Brexit uncertainty, remains one of the best countries in which to start a business.

But apart from the beautiful economic indicator figures, other factors come into play; factors that propel the United Kingdom to the top. These include:. Additionally, the UK has one of the lowest corporate tax rates among the G20 countries and as such is quite attractive to business investors. According to the World Bank, Singapore presents one of the healthiest environments to start a business.

Apart from the excellent economic indicator figures shared above, the country also has the following going for it:.

Singapore also offers affordable airfare to her neighboring countries. This means that, as a business owner, you will have affordable access to other exploratory markets such as Thailand, Indonesia, Philippines, and Malaysia.

One of the best things about Norway is that communication with the government can reliably be done online. You can easily register a company, and you will also find that complying with tax laws in this country is a rather straightforward process. Another added advantage of starting a business in Norway is the fact that they are a highly technologically advanced nation with a majority of Norwegians very willing to adapt, as well as pay, for new technology.

This means that you will easily find highly skilled labor especially in the fields of IT, design, finance and music technology. Norway is a very transparent country and has minimal levels of corruption.

For these reasons, Norway makes a very attractive option for any straightforward business investor looking to build an honest business. Apart from the economic indicator figures given above, several other advantages make this nation an attractive destination for businesses:. It also has a wealth of information readily available online through Statistics New Zealand that can help you run thorough research into whatever industry you would like to invest in.

This immediately gives you an added advantage as you will get to learn about the culture, spending habits of the population and how well businesses in your niche are doing. As a free market economy, Hong Kong is highly dependent on international finance and trade. It has a highly educated workforce and a brilliantly designed and constructed transport and communication infrastructure.

On the other hand, because Hong Kong has limited natural resources, it imports almost everything from food to raw materials. This might sound a bit discouraging to budding industry titans, but remember that Hong Kong imposes no tariffs on imported goods save for four: hydrocarbon oil, hard alcohol, methyl alcohol, and tobacco.

Considering the high crime rate in many parts of Mexico, not very many investors would immediately jump onto the idea of starting a business there. However, despite these challenges, Mexico still presents one of the best possible destinations in which to start a business. This is mostly thanks to the extensive business registration reforms that have taken place in the country. These reforms have largely led to the increased registration of businesses overall.

It is now much easier to register and start a business in Mexico. It only takes about eight days to have your business up and legally running in the country. Couple that with the fact that it has a ready and willing labor force that is considered affordable when compared to other countries in this list and you have Mexico as a wonderful destination overall. It also has free trade agreements with 46 different nations thus opening enormous potential markets for any investors willing to take part in the large manufacturing-oriented economy.

With an unemployment rate of only 3. It has a highly skilled workforce that is ready and willing to work although it may not be as affordable as it is in other countries on this list.

The country benefits from a highly developed service sector plus a manufacturing industry that has specialized in high-technology and knowledge-based production. Apart from the excellent numbers indicating economic growth and prowess, Switzerland also has other factors that make it an attractive destination for starting a business.

Even though the Great White North has high living standards, the country has made impressive gains when it comes to its manufacturing, service and mining sectors. These gains have greatly helped to transform the nation from a largely rural economy into one that is primarily urban and industrialized. It also has a huge oil and natural gas sector ranking it third in the world in oil reserves behind Venezuela and Saudi Arabia.

Canada enjoys extremely balanced bilateral trade with the US which opens up a huge market for business investors looking to tap into the US through Canada. The country has a very stable political climate, excellent health care, and a substantially skilled labor force.

All of these make it a lucrative destination for business investors looking to take advantage of the service or industrial sector. This small, trade-dependent nation has a strong economy that has gone through the ringer in recent times but has come out stronger for it. After officially exiting the EU-IMF bailout program that saw Ireland stabilize its economy through the economic crisis of , the country has seen rapid economic growth.

As such, the government has increased public spending and drastically lowered some taxes which is good news for business owners. Since the collapse of the construction sector thanks to the same economic crisis Ireland has become increasingly dependent on exports for economic growth. This makes it one of the best destinations for any business owner looking to set up a manufacturing company geared towards export-goods production. But the biggest selling point for this country is that it has a huge, highly-skilled and highly-educated labor force.

Although this labor force is not as affordable as is the case in many countries on this list, there are many positives Germany offers. But despite all that, the economy suffers from low levels of investment which makes it a ready and ripe market for foreign investors willing to take on the wages commanded by the available labor force. As a member of the EU, Germany enjoys strict standards of manufacturing and production. Starting a business there will not only give you a chance to exploit the largely well-funded markets in the EU, but it will also give you an opportunity to raise your standards of production.

Standardized across the board, this will give your brand a highly competitive edge in the global market. Depending upon how you define them, there are approximately countries in the world. Where else should you look to start a new business? Political and economic stability are some of the things that make these countries the best to start a business in. They also largely have excellent governance with favorable policies that are not only welcoming to business investment but actually encourage innovation and entrepreneurship.

This, coupled with the availability of disposable income for the locals as well as favorable trade agreements with other, equally large markets in their regions, make them perfect for business investment. Just as there are countries in this world that are highly favorable for business investments, there are countries that simply do not encourage this sort of thing. Many of these countries are mired in:.

And to top it all off, many of them have a largely unskilled labor force despite the fact that it is affordable. With that in mind, here are some of the worst countries to start a business in. The problem with Chad is that it is landlocked and almost everything has to be imported thus resulting in excessive costs of transportation and an unhealthy dependency on neighbors. Another major issue is that, although oil is one of their biggest commercial commodities , almost the entire country is serviced by one refinery which often breaks down and results in shortages and frequent business stoppages.

The available labor force, although affordable to the point of being cheap, is unskilled and largely uneducated. Apart from the above highlighted abysmal economic indicator numbers, other issues are plaguing Chad, making it one of the worst countries in the world to start a business.

These issues include:. It remains a high debt risk country with extremely elevated levels of corruption, very little skilled labor and inadequate infrastructure. Starting a business here, although possible, will be frustrating at best.

There was a time when Haiti stood for warm ocean water and beaches. But ever since the 7. This is not to say that its economy was that good before, but the earthquake made things much worse. Although this is a free market region, there are certain aspects of its governance and its population that make it difficult for investors to do business here. Haiti is currently the poorest country in the western hemisphere. Even though the country enjoys tariff-free exports to the United States for almost all of its exports, it is the lack of skilled labor and vulnerability to natural disasters that make this a terrible place to build a business.

Plus, it has almost no transport and communication infrastructure set-up thanks to the earthquake. Libya used to be an African powerhouse. But ever since the Arab Spring that burned through most Islamic nations in Africa and the Middle East back in , Libya has been reduced to little more than just rubble. It is due to that very armed conflict between rivaling factions that makes this country uninhabitable for business. The lack of infrastructure, the lack of food and security for the people and the lack of a stable labor force all make Libya not conducive to business investments at the moment.

Perhaps the one that stands out the most is The Central African Republic. The main problem with this country is that there is little to almost non-existent political participation by the public.

This means that the country is run by a political class that enacts retrogressive and unfavorable policies.

Tax-Friendly Businesses to Start, time: 7:59
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Re: business besides us

Postby Dagar В» 12.04.2019

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Re: business besides us

Postby Arale В» 12.04.2019

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