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Top 5 Places in the World for Starting A Small Business

In today’s economy times can be tough and finding work can be difficult so many people turn to creating a small startup business to supplement their income or even create a full time career of their own. However, many countries have miles of red tape when it comes in starting a small business regarding the rules, regulations and procedures of owning a business. Luckily, there are some countries where it is still as easy as ever to start a small business in just a matter of days and below are the top 5 places for starting a small business.

#5 – Hong Kong

Hong Kong is a place where businesses flourish as the independent city caters to small businesses by making regulation reform around the capital costs needed for start-up small businesses. A small business can be started in as little as 3 days with easy to handle forms and regulations, so that business owners can quickly create a start-up venture with minimal capital and very little hassle. According to the Worldwide Tax, Hong Kong is one of the lowest taxed countries with a maximum corporate tax of 16.5% and a maximum income tax of 15%.

#4 – Singapore

This country offers a fairly quick and easy process for acquiring construction permits, business licenses and registering properties so that a small business can get completely registered and licensed within 3 days. Singapore also boasts relatively easy access to credit from banking institutions or lenders so that a small business owner can get a loan for a start-up company. vCeo states that businesses with a profit margin of SN$100,000.00 can get a tax exemption of 100%, 50% of SN$200,000.00 and a 17% tax rate of SN$300,000.00 or more.

#3 – Canada

This nation has a thriving economy that has continually shown itself as a place where businesses can find a solid foundation. According to a July 2011 study by the Canadian Federation of Independent Business, 40% of small business participants said that they were able to make a profit within the first year and 65% of small business owners were able to break even within the first 12 months of opening. Canada’s government is continually trying to create a healthy environment for small business owners and that seems to be showing in the overall success of business start-ups.

#2 – Australia

Australia offers small business owners easy access to credit opportunities as well as an ease in regulations for trading across borders. A small business can be started within 2 days with an easy to use registration and licensing process. The Small Business Development Corporation of Western Australia states that 95% of all businesses in Australia are classified as small (19 of fewer employees) and that the overall profitability of small businesses increased 10% between September 2011 and June 2012.

#1 – New Zealand

The bustling nation offers the easiest and quickest start-up process around the world where a small business can be started within 1 business day. The country provides all necessary documents for small business start-ups online so that a business can get started and making a solid business foundation in the country within days. According to OECD Economic Outlook 2011, small businesses in New Zealand have a 65% chance of succeeding in the country and the country has wonderful credit/taxation programs to allow businesses to pay little to no taxes while the business gets off the ground.

This is post is courtesy a freelance writer for CEO Blog Nation

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Gresham Harkless Jr.

Gresham Harkless is a Media Consultant for Blue 16 Media and the Blogger-in-Chief for CEO Blog Nation. CEO Blog Nation is a community of blogs for entrepreneurs and business owners. Started in much the same way as most small businesses, CEO Blog Nation captures the essence of entrepreneurship by allowing entrepreneurs and business owners to have a voice. CEO Blog Nation provides news, information, events and even startup business tips for entrepreneurs, startups and business owners to succeed.

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