Are you looking for a new international base for your business? With so many options, it can be difficult to start narrowing the field. First, start vetting a few countries known for being start-up hotspots. Here are a few to help you get started.
Out of the top 20 entrepreneur-friendly countries, the Netherlands rank 13th because of high levels of existing cultural support and a deficiency in human capital. While the country’s citizens are not necessarily the most entrepreneurially minded, the existing institutions are prime for new enterprises.
Singapore is greatly urbanized and boasts relatively high income levels. The country is strong in opportunity and growth startups, but holds a few key weaknesses. The region is lacking in start-up skills, as well as opportunity perception, but overall, the country is ideal for many entrepreneurs.
Ranked number eight in the top 20 start-up hot spots, Switzerland shows strength in the areas of risk capital and internationalization. Conversely, it is weak in terms of start-up skills and high-growth start-ups. As with the Netherlands, Switzerland is ideal because of entrepreneur-friendly institutions instead of citizens’ entrepreneurial skills.
Taiwan beat out East Asia for the number six spot on the list. The region specializes in risk capital, high-growth start-ups and product innovation. On the other hand, the area lacks competition and general start-up skills.
While Taiwan is the leader of East Asian countries, Australia is first place among the Asia-Pacific countries and third overall. The country lacks networking and product innovation, but it excels in internationalization and opportunity start-ups.
If you’re looking to expand or simply start a business abroad, consider these locations as possible enterprise bases. The locales feature amenable institutional factors and people with entrepreneurial mindsets. You won’t know what country is right for you without research, but use this list to get started.