New study reveals the top European countries for new business entrepreneurs

Investing in a new business at home can be difficult at the best of times, but it can be even trickier when you want to begin new business ventures overseas. However, with searches for ‘How to start a new business’ increasing by 200% in the past years, it is safe to say people are looking at ways to invest.

To give an idea of the best countries overseas to start a business in and using data garnered from a variety of statistical websites, such as Statista, Blacktower Financial Management Group ranked 31 countries across Europe as the best places for entrepreneurs, based on the percentage of the population with university degrees, average net salary, corporate tax rate, cost of living, and office renting cost per square metre.

The report analysed and assigned a value of 1-5 for each factor, each factor being weighed differently. For example, low corporation tax and higher degree percentage in the population would have scored higher.

The countries were then ranked based on which had the highest score overall when the score of our five chosen factors were combined together.

RankCountryDegree Prevalence (%)Average Net Salary (€)Corporate Tax Rate (%)Cost of Living (€)Annual Office Renting Cost Per Square Metre (€)
1Lithuania38.7105915567.79204
2Cyprus40.2165812.5712.25156
3Bulgaria25.666510486.92240
4Hungary23.69509486.49162
5Estonia37.1121420661.08228
6Latvia33.2105020599.41216
7Poland28.9100219515.22294
8Slovenia31.5136319655.07180
9Romania16.278516463.1228
10Croatia2297418585.85207
11Slovakia23.991921566.8204
12Portugal25.4111021533.65288
13Greece28.5111624640.16252
14Ireland42.8304112.5853.97673
15Spain36203925619.47408
16Finland39.8250920812.57444
17Czech Republic21.1125019603.35288
18Belgium37.6244225813.53315
19Netherlands36.6215225908.98221
20Malta28.1102135733.45175
21Luxembourg40.9357324.9960.25427
22Austria31.3310425840.73312
23Sweden38.3277020.6838.621022
24Denmark33.7391422937.2275
25Italy17.9175224757.29360
26UK40.6245419786.611513
27Norway38.83795221134.4562
28France35.3279126.5849.99890
29Iceland36.83221201102.01858
30Germany27.2295230802.35540
31Switzerland39.3490214.91415.75688

Eastern Europe and the Baltic countries are the most promising

One place new business can thrive is in those nations whose economies are rising quickly to begin competing with those of other more established countries, like France and the UK. Interestingly, the majority of the top countries sat firmly in Eastern Europe.

At the top of the ranking for promising countries for new business entrepreneurs is Lithuania. With a corporate tax rate of just 15%, and low office renting costs, establishing, and turning a profit with a new business could be simpler than anticipated.

Next up, we have Cyprus and Bulgaria. Cyprus has an even lower corporate tax rate, just 12.5%, but its higher cost of living puts it just below Lithuania. Bulgaria, on the other hand, sits in third place due to its low degree percentage. However, all three countries could make prime new business investment opportunities.

Countries offering the lowest rent costs and corporate tax

Besides Cyprus and Hungary, some of the countries with the lowest rent costs include Malta, Slovakia, and the Netherlands. Paying lower costs for good office space is always helpful for a new business, allowing you to invest resources elsewhere.

And to save funds on corporate tax, then Ireland, Switzerland, and the Czech Republic make for good options outside of the top ten.

To view a list of all the countries and to know more about Blacktower please visit: https://www.blacktowerfm.com/news/top-european-countries-for-new-business-entrepreneurs/

More from Family Friendly Working
Businesses spending £2,000 per day on Interim Managers to help them survive past Covid-19
Whilst UK redundancies are rising at the fastest rate since 2009 amid...
Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

 

This site uses Akismet to reduce spam. Learn how your comment data is processed.