Post by account_disabled on Mar 10, 2024 3:41:08 GMT
For the third consecutive year, Germany is considered the best country in the world to start a business, according to the annual “Best Countries” ranking by US News & World Report.
The top 5 startup countries have remained largely unchanged over the past three years, with Germany and Japan taking the top two spots.
In order to help understand how each country is perceived on a global scale, more than 21,000 respondents evaluated 80 countries by ranking them on 65 attributes. Among them were economic influence, power, citizenship and quality of life, which in sum determine the success of each country as a modern nation, with entrepreneurship being the most weighted attribute in the overall score of the ranking of “ “Better countries.”
To determine which countries are the most attractive for entrepreneurs, the researchers analyzed the following 10 attributes: connection with the rest of the world, education of the population, number of entrepreneurs, innovative nature, whether there is easy access to financing, qualified labor , technological experience, transparency in business practices, developed infrastructure and legal framework that provides stability and legal security.
This ranking is part of an analysis project called “2018 Best Countries Report”, carried out for three years by the Wharton School of the University of Pennsylvania and the international consulting firm Y&R BAV Group.
The Best Countries report talks about the effect a country's brand can have on its economic prosperity and reputation in the world.
Here are the 5 best countries for entrepreneurs, as detailed in the report:
Germany : Considered the most Ecuador Mobile Number List modern, it stands out for the entrepreneurial spirit of its population, it is estimated that over 80% of its young people between 17 and 35 years old are entrepreneurs or have the intention of starting a business at some point in their lives. It also highlights the quality of life, the power and influence in the world, its foreseeable promising future and the fact that it is the country where a large number of multinationals have their headquarters. Furthermore, the transparency of its political institutions, the ecological awareness of the population, the quality of its educational system, the fact of being the fourth largest economy in the world and the largest in Europe and its policies favorable to entrepreneurship, place this country as the ideal place to start a business.
Establishing a business in Germany is incredibly easy, as the fees to pay can cost as little as €20 in areas like Stuttgart. On the other hand, the government allows forgiveness of defaults to keep companies growing.
Unlike other countries, such as the United Kingdom, where a single or a few cities are the economic or industrial center, Germany has several business centers, including Berlin, Frankfurt, Munich and Hamburg.
English is also widely spoken in Germany and is the primary language in many multinationals and start-ups, making it easier to attract new entrepreneurs and talented workers.
Still, Germany has some challenges for entrepreneurs, particularly its complex tax system that almost always requires the hiring of high-cost specialized tax advisors. Additionally, housing shortages are also starting to become an issue in Berlin and other metropolitan areas due to population growth, increased immigration and a lack of new construction, although the cost of living remains low compared to other European capitals.
The creative spirit in Germany fuels professional and personal life, especially in Berlin, the country's main artistic and cultural bastion, which encourages the recruitment of artists from all over the world.
Japan: Japan has long been a paradox in the business world, where a traditionally risk-averse culture has also brought great innovations to the world for decades, mainly in the technology sector. In this country, already outdated technology such as faxes is still omnipresent in coexistence with robots and other cutting-edge devices.
For many business owners in Japan, the country is also on the verge of a major cultural shift. While most Japanese have once preferred to work in one of the large conglomerates that exist in the country with the promise of a job for life (as if they were civil servants), today's young people lean towards companies smaller and more entrepreneurial. In this way, an important barrier that existed in the past is eliminated and this has been mainly encouraged with state funds for the creation of new companies and the development of a more attractive business framework.