In a recent study by the AI website Business Name Generator (BNG), India was placed among the most challenging country to launch a startup. To create this global startup index, the AI-powered website analysed 50 countries considering among other criteria, business tax rates, GDP growth, and the cost of startup procedures to determine the optimal location to start a business.
The BNG study also looked at each country’s population, average monthly salary, GDP and GDP per capita. Furthermore, happiness score, the cost of living, and quality of life were included in calculating the final index score to find out where the most content employees reside, as these measures help drive productivity and growth. Based on the BNG study, the top ten countries to launch a startup in 2023 are all European with the Czech Republic emerging as the number one. Finland, Sweden, Estonia and Slovakia made up the top five in that order.
With the Nordic countries typically doing well in surveys which emphasise quality of life and happiness, it should not be a surprise that two of them feature in the top five. In addition, Europe is attracting tech talent by offering digital nomad visas and remote working schemes.
In the study, the Czech Republic emerged as the best country to launch a startup. Although its quality-of-life score is the lowest among the top ten, starting new business costs just 1.1 per cent of GNI (gross national income) per capita, and it is one of the least expensive places to start trading. Labour costs are also reasonable, with salaries averaging USD1,800 per month. In addition, companies enjoy a comparatively low corporate tax rate of just 19 per cent.
Esta historia es de la edición April 04, 2023 de The Business Guardian.
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