TEMPO.CO, Jakarta - The success of your venture depends not only on internal factors like leadership and risk-taking but also on where you choose to grow your business.
Among the many, it’s worth considering the best countries to start a business like the United States, New Zealand, and Singapore for the base of your venture.
Potentially unlocking greater growth and long-term potential, these advantages don’t come by chance. Factors such as favorable tax policies, access to funding, regulatory support, and market opportunities all contribute to a business-friendly environment.
So, where are the top 10 countries for businesses to truly thrive?
List of the Best Countries to Start a Business
Citing various sources, the best countries to start a business vary, but they span every continent, from Asia to Europe, and of course, include leading economies like the United States.
1. United States
GDP per capita: $83,000
The United States is widely recognized as the best country to start a business, and it’s easy to see why. Hailed the world’s largest economy, the US offers a regulatory environment known for its efficiency, consistency, and transparency. New businesses can also quickly find an audience and scale, thanks to the country’s massive consumer market, which remains the largest in the world.
2. New Zealand
GDP per capita: $48,000
New Zealand has long earned a strong reputation as an attractive hub for entrepreneurs. This appeal is driven by its highly skilled workforce, transparent and low-corruption business environment, and strategic location in the Asia-Pacific region. Coupled with an extensive network of international trade agreements, New Zealand offers businesses seamless access to global markets, reduced trade barriers, and a wealth of export opportunities.
3. Singapore
GDP per capita: $85,000
Renowned for its stable government and vibrant business ecosystem, Singapore is undoubtedly one of the best countries to start a business. A magnet for entrepreneurs and investors alike, EDB Singapore noted that the government has committed over S$4 billion to support business growth and workforce upskilling. Currently, Singapore is Asia's leading innovation hub, being home to more than 286,000 small and medium-sized enterprises (SMEs) and approximately 4,500 tech startups.
4. Switzerland
GDP per capita: $100,000
Beyond its globally renowned majestic mountains, Switzerland is also a standout business hub. Situated in the heart of Europe, Switzerland offers exceptional connectivity and access to a vast network of international markets.
Although costs can be higher, Switzerland’s economy, one of the world’s most reliable, more than compensates for this. In the first half of 2024, the country’s GDP showed steady growth, increasing by 0.5% in Q1 and 1.8% in Q2.
5. Canada
GDP per capita: $53,000
Canada is a thriving business hub for many good reasons. Not only does it boast one of the world’s most educated workforces, Canada is also known for openly welcoming global talent with its pro-immigration policies. Sustainable business practices, stable global markets, and broad market access are all further enhanced by Canada’s competitive corporate tax rate of just 15%.
6. Denmark
GDP per capita: $68,000
Combining advanced digital infrastructure with ease of doing business, Denmark is highly attractive to entrepreneurs worldwide. Denmark is consistently ranked among the top countries for transparency, particularly well-known for its minimal bureaucracy. The country also leads in technological innovation while maintaining a strong commitment to sustainability, aiming to become fully independent of fossil fuels by 2050.
7. Estonia
GDP per capita: $30,000
Ranked as one of the best countries to start a business, Estonia boasts a long-standing focus on digital innovation. Beyond its thriving economy, the country’s startup community stands out for its collaborative culture and openness to knowledge sharing. Entrepreneurs actively exchange ideas, insights, and best practices to support one another’s success, further adding to Estonia’s appeal, especially with its attractive 20% flat corporate income tax rate.
8. Thailand
GDP per capita: $23,400
Best known as a year-round travel destination, Thailand is also gaining recognition as a promising business hub. While it may not match the infrastructure of more developed nations, its strong domestic market potential and well-developed logistics make it an attractive option for entrepreneurs. On top of that, Thailand offers a large and skilled workforce, combined with cost-efficient labor and operational expenses, ultimately creating a favorable environment for new businesses to thrive.
9. United Kingdom
GDP per capita: $39,700
Despite Brexit-related shifts, the UK remains a top contender among the best countries to start a business. With access to unique opportunities across its four regions, a highly skilled workforce, and competitive corporate tax rates as low as 25%, few countries can rival the UK's business environment. In 2024, the UK was home to over 5.6 million businesses, an impressive 3% increase from the previous year.
10. Lithuania
GDP per capita: $28,000
A rising star in the European startup scene, Lithuania has steadily established itself as Europe’s leading hub for fintech innovation.
Notably, Lithuania also boasts the continent’s fastest internet connection, reinforcing its appeal to tech-driven companies. Its low corporate tax rate—one of the lowest in Europe—further strengthens its reputation for ease of doing business.
Choosing the right country to start your business can be a game-changer. While every entrepreneurial journey is unique, the environments offered by these top 10 countries provide a solid foundation for growth, innovation, and long-term success.
Curious about which nations are leading the way in tech? Explore the most technologically advanced countries in the world and see where innovation truly thrives.
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