Startups exist in every single country on this continent. But Europe seems to receive the gold medal when it comes to the most friendly countries to begin a startup. We are going to present you with a list of the top 10 best countries to launch a startup in 2023. As you will find out, all these countries are in Europe, proving that this part of the continent is the most innovative globally.
The friendliest country to launch a startup in 2023 is the Czech Republic. Next comes Finland, and third comes Sweden. The cost to begin a startup in the Czech Republic is very low; in fact, it’s 1.1% of GNI per capita. Also, the monthly payment for an employee is not very high, reaching 1800 dollars on average.
Businesses in Finland are taxed at a stable rate of 20%, while the cost to begin a startup in Finland is 0.7% of GNI per capita. Not to forget to mention that each year, Finland emerges as the country with the happiest residents. That’s another important reason for someone to start a new business in the country.
Also, the cost of starting a new business is very low in Sweden. In fact, the cost to begin a startup in Sweden is 0.5% of GNI per capita. Sweden also has a low cost of living since someone can cover his needs with 800 dollars per month on average, excluding rent. Businesses in Sweden are taxed at a stable rate of 20.60%.
Estonia holds fourth place on the list. In Estonia, the startup cost is 1% of GNI per capita. In Estonia, the cost of living is about 800 dollars per month on average, excluding rent. In comparison, an employee gets, on average, 1200 dollars in salary.
Slovakia completes the top five. In Slovakia, the cost to begin a startup is 1% of GNI per capita. The same with Estonia. The cost of living is about 700 dollars per month on average, excluding rent, while an employee gets, on average, 1500 dollars in salary. So, it is comparatively easy for an employee to cover their needs.
The United Kingdom holds 6th place on the list. In the United Kingdom, the tax rate is 19% on capital generated. In the region, the starting process of creating a new startup doesn’t cost anything.
Continuing, the country that follows offers employees, on average, 4,000 dollars as a salary. This country is the Netherlands. The businesses here are taxed at a stable rate of 25.8%.
Austria, Denmark, and Portugal hold the 8th, 9th, and 10th places on the list, respectively. The cost to begin a startup in Austria is 4.7% of GNI per capita. Businesses in Austria are taxed at a stable rate of 25%. In Denmark, the cost to begin a startup is 0.2% of GNI per capita, while in Portugal, the cost to initiate a startup is 1.9% of GNI per capita. It should be noted that Business Name Generator evaluated all the above countries based on a series of criteria, both financial and social.
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