Starting a business is never an easy task. But are there any countries that will accommodate you and be particularly conducive to your business startup? First up: Dont forget Cyprus. There you can setup a company with Hugge Consultant.
We present the best locations across Europe where you can start your own business with particular peace of mind:
Ireland
From the mid-1990s to the early 2000s, the Irish economy experienced a massive boom unlike any other country in Europe. In fact, this rapid growth even earned its own nickname, „The Celtic Tiger.“
While this rapid growth steadily slowed down in the aftermath of the global economic crisis of 2008, Ireland has managed to increase its productivity again in the meantime.
One of the main reasons for this upturn is the Irish government’s positive attitude towards the economy. Their measures, such as a low corporate tax rate (12.5%), have created a positive business climate. Many well-known technology companies (such as Google, Twitter, Facebook and LinkedIn) have established their European headquarters here for this reason.
Bulgaria
Bulgaria was once a communist state, but nowadays the country has become a hub for entrepreneurs from all over the world. According to the World Bank, it takes only 18 days to start a business on Bulgarian soil.
Moreover, the administrative costs of incorporation are about 1% of the average Bulgarian income and only 4 forms need to be filled out for successful incorporation. There is also no minimum amount to start a new business, so theoretically you can start your business with a capital of €0 (although this is probably not advisable).
For more helpful information on starting a business in Bulgaria, visit the Invest Bulgaria Agency website.
The Netherlands
In general, Holland is a very entrepreneur-friendly country and Amsterdam in particular has a lot to offer to founders. This is not surprising as Amsterdam was founded on vibrant trade.
The Dutch government takes the tradition of fostering a positive business climate very seriously. And while the tax rate is high (typically 52%, depending on your tax bracket), the generous public benefits leave most residents satisfied with the trade-off.
The government also provides ample public support for entrepreneurs. These measures can be found very clearly in the „Step-by-Step Guide to Starting a Business in Amsterdam.“
Sweden
According to the 2017 Forbes rankings, Sweden was the best country for business!
2016 was a record year for small businesses in Sweden. It showed the highest profitability of small businesses in the last five years. According to thelocal.se, all the companies studied had an average turnover of 18.2%.
Note: LRF Consult defines small business as a business with 15 or fewer employees. For more information, visit the official website of the Swedish government.
Norway
In general, Norwegians are eager to embrace new innovations and technologies. Especially when it comes to lower costs or higher efficiency.
You can incorporate a business in Norway entirely online, which is a huge time saver. You can fill out the necessary forms at home on your computer and relax while waiting for the answer. Although taxes in Norway are high, the Norwegian tax system scores points for its simplicity.
In addition, starting a small business in Norway involves relatively little risk. The Norwegian government offers a whole range of public benefits to support your small business. In case of insolvency, you can usually liquidate it for 1% of the value of your business.
For these and other reasons, Norway Entrepreneur magazine last year nominated Norway as an entrepreneur-friendly country and one of the best locations to start a business. Visit the official website of the Norwegian government for more information.
The United Kingdom
One of the main reasons why England is such an excellent location to start a business is probably due to the positive attitude that English people show towards starting a business and work ethics.
A recent survey found that 88 percent of Brits believe that you can get ahead in life if you work hard. This is higher than anywhere else in Europe, according to The Independent.
In addition, the U.K. tax structure is designed to compensate for a lack of profitability in the early years of business, according to Virging.com. The total cost of starting a small business in the U.K. is lower than most other countries in the developed world, averaging just £81.45 (€91.99).
If you already have a well thought out business plan, then the first step to starting a business is for just £14 (€15.81). This can be done conveniently online and is completed within an hour.
More important information about starting a business in the UK can be found on the HMRC website.