Rebecca Williams https://businessnamegenerator.com 1m 319 #startup
The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Economic uncertainty may unnerve budding entrepreneurs who have big plans, so knowing about the global landscape is often critical, especially when it comes to deciding where to launch or expand their startup.
To find out the best location to start up a business in 2023, Business Name Generator has analysed 50 countries to reveal the best places to launch a startup, looking at economic factors such as corporation tax, economic growth and costs, as well as social factors including employee happiness and quality of life.
The top 10 locations in the world to start up a business in 2023
Rank | Country | Business Tax Rate (%) | Economic GDP growth (2022) | Mean monthly salary (GBP) | Cost of startup procedures (% GNI per capita) | Happiness score | Quality of life score | Monthly cost of living excl. rent (GBP) | Total index score |
1 | Czech Republic | 19.00 | 1.9 | £1,478 | 1.1 | 6.97 | 163.0 | £603 | 7.31 |
2 | Finland | 20.00 | 2.1 | £3,695 | 0.7 | 7.84 | 189.9 | £764 | 7.25 |
3 | Sweden | 20.60 | 2.6 | £3,531 | 0.5 | 7.36 | 176.6 | £723 | 7.14 |
4 | Estonia | 20.00 | 1.0 | £985 | 1.0 | 6.19 | 171.6 | £681 | 7.11 |
5 | Slovakia | 21.00 | 1.8 | £1,273 | 1.0 | 6.33 | 149.9 | £542 | 7.02 |
6 | United Kingdom | 19.00 | 3.6 | £3,777 | 0.0 | 7.06 | 166.6 | £710 | 6.90 |
7 | Netherlands | 25.80 | 4.5 | £3,202 | 4.0 | 7.46 | 197.8 | £802 | 6.86 |
8 | Austria | 25.00 | 4.7 | £2,627 | 4.7 | 7.27 | 186.2 | £793 | 6.79 |
9 | Denmark | 22.00 | 2.6 | £4,844 | 0.2 | 7.62 | 195.1 | £889 | 6.71 |
10 | Portugal | 31.50 | 6.2 | £1,806 | 1.9 | 5.93 | 164.0 | £514 | 6.64 |
The Czech Republic ranks as the best country for startups in 2023 with set-up procedures costing just 1.1% of Gross National Income (GNI) per capita, combined with reasonable labour costs averaging £1,478, making it an attractive option.
The UK ranks sixth in the index, beating all other G7 countries, including the US and Germany. The UK is the only country where business startup procedures don’t cost a penny.
Surprisingly Germany, France, and the U.S. position outside of the top ten. The States placed 17th with startups expected to pay an average tax of 25.8% on capital generated.
Other newsworthy data points:
The Netherlands has the best quality of life rating out of every country in the ranking, with a score of 198 out of a possible 240.
The Philippines ranks as the most challenging country to launch a startup. With the highest startup business costs, totalling 23.3% of GNI per capita.
Finland has the happiest employees, scoring 7.84 out of 10, higher than any other country in the world.
You can find more information here https://businessnamegenerator.com/the-global-startup-index/ or in the press release below.
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