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