Top Trending Countries For Startups In 2020
Starting a new business is a daunting task. Investors, as well as entrepreneurs, consider a number of factors when they begin their activity. Investors take many things into account when it comes to investing in other countries. This includes perception-based global surveys and rankings based on many merits. Some of the major attributes they consider in a country worth investing in are:
- Cheap manufacturing costs.
- Easy access to the capital.
- GDP growth.
- Connectivity with the rest of the world.
- Trade balance/GDP.
These are just a few of the many factors involved in making the significant decision of investing in a country. If you are trying to make a similar decision, don’t take it as lightly as picking one of the Optimum service plans. Your success as an entrepreneur and an investor is based on how keenly you assess these factors. Check out the list of countries worth your business investment in 2020!
The United Kingdom
With the GDP growth of 1.7% and GDP per capita of $39,700, The UK tops our list of countries worth considering for starting a new business. It the leading financial center and trading power in Europe. Also, it is the third-largest economy in the continent. The key drivers in the GDP growth in the UK are banking, business services, insurance, and so on. The agriculture sector is intensive. It is highly mechanized and effectively handled according to European standards. Businesses are budding and while shortlisting countries to invest in, think about the UK twice.
Sweden secures the second spot with a GDP growth of a whopping 2.1% and GDP per capita of $53,400. Sweden has achieved enviable and exemplary standards of living. It is one of those few countries, which offer more facilities to its citizens than any other country. The economy of Sweden is open, small, and competitive. The country has managed to combine extensive welfare benefits with free-market capitalism. Sweden’s government is not ready to compromise and diminish the sovereignty and its unique welfare system. And that’s the biggest reason why it has stayed outside the eurozone and hasn’t joined the Economic and Monetary Union of the European Union.
The country relies heavily on foreign trade. Hydropower, timber, and iron ore are among some of the major resources of its manufacturing economy.
With a GDP of 3% and GDP per capita of $45,000, Canada is a strong option when it comes to countries worth investing in. Canada is similar to the pattern of production and economic system of the United States. The economy is market-oriented and the country offers a high standard of living. The country has been transformed after World War II. There has been an impressive growth in the sectors of mining, manufacturing, and services. From a predominantly rural economy, it has revolutionized into a primarily urban and industrial one.
Canada is also rich in natural resources such as natural gas and oil. It has vast reservoirs of crude oil in its western provinces.
The Netherlands has a GDP of 2.9% and a GDP per capita of $48,200. It has emerged as the sixth-largest European economy. The country plays a significant role of being the European transportation hub. Its trade surplus is on a consistent rise and it has stable and reliable industrial relations. The country boasts of a very low unemployment rate. The industry is flourishing in the country and is especially focused on food processing, petroleum refining, chemicals, and electrical machinery.
Since the agriculture sector is highly mechanized, it only employs 2% of the entire labor force in the country. And it still produces large surpluses of processed food that strengthens the country’s status. The country ranks second in the list of the largest agricultural exporters.
Hong Kong offers great business prospects with a whopping GDP of 3.8% and a GDP per capita of $46,200. It has a free-market economy and is highly dependent on international finance and trade. The value of services trade and goods include a sizeable share of re-exports. There are no tariffs on imported goods. Also, there are no dumping laws or quotas. The country only levies excise duty on these four commodities: tobacco, hard alcohol, methyl alcohol, and oil. And this goes for both, produced locally or imported.
Hong Kong is a promising option for a business venture.
With a GDP of 3.6% and a GDP per capita of $57,700, Singapore boasts of a successful and highly developed free-market economy. If you decide to run a business or invest in Singapore, you will experience corruption-free and an open environment. The prices are quite stable and the per capita GDP is higher than that of many developed countries. The unemployment rate is fairly low. The economy is highly dependent on exports, especially electronics, chemicals, petroleum products, optical devices, medical devices, pharmaceuticals, and so on. It also relies heavily on Singapore’s vibrant business, transportation, and financial services sector.
When I first started my business locally, the step was to search internet providers for my location. I subscribed to the most promising one. Later, I hired a team of professionals and worked hard on every step. The drill is almost the same for every step when you are establishing in another country. With a little luck, ambition, and much determination, you will succeed!