Starting a business is always challenging, and there are countless steps to complete to get to the point of launching, from market research and financial assessments to branding and advertising. But location plays a key role in your success and it can influence so many of the preparatory stages. These are the best countries in Europe for starting a business, whether that’s starting from scratch or expanding an existing company.
Ireland
Ireland experienced its share of economic difficulties in the mid-2000s, but it bounced back better than ever and is now one of the best countries in Europe for business owners. As a start-up-friendly destination and a country invested in innovation, Ireland is a great choice for companies looking to benefit from the low corporate tax rate and a climate devoted to cultivating enterprises of all different sizes. Many big firms such as Twitter and LinkedIn based their European headquarters here for this very reason.
Gibraltar
Gibraltar is one of the most popular destinations for doing business, with no VAT or sales tax to worry about, and only 10% corporation tax for resident companies. There are several advantages for entrepreneurs when it comes to setting up a business in Gibraltar. It’s a tourist hub that offers great benefits for businesses, as well as being a top choice for several large financial institutions. There’s a small, close-knit community here that delivers quick results and easy accessibility to key decision makers, which is why several major organisations have chosen to base themselves here across a variety of industries, from gaming and insurance to property.
Denmark
A socially progressive country with a secure economy, Denmark doesn’t just make the list for top European countries for businesses but for leading destinations around the world. It boasts a central location with plenty of coastline for cross-border trading, and it offers some of the best living standards in the world for overseas employees. Another benefit of this country when it comes to business is that it’s quick, taking just 3.5 days to set up a business here.
Sweden
Sweden has been ranked by Forbes as one of the top three European countries for business, with a strong economy and a great environment for start-ups. The likes of Spotify, Klarna and Skype have had their start here, and the country is well-known for fostering a culture of innovation and entrepreneurship, with government assistance for businesses that combat the higher living costs.
Norway
Norway is a country that embraces technology and innovation, making it a brilliant location for new businesses. The benefits of Norway as a business location are huge, from the ability to start a company entirely online to save time and administrative costs, as well as the low risk associated with starting a business here. There are countless public benefits, governmental support and while taxes are high here, the process is simple. It’s a country that consistently ranks as one of the best countries in the world for business.
North Macedonia
North Macedonia isn’t a well-known location when it comes to the global economy, but it’s a surprisingly excellent location for businesses. It’s previously been ranked in the top 10 global players for protecting investors, receiving credit and dealing with construction permits, as well as having a high GDP growth rate. For start-ups or businesses with the desire to expand on a budget, North Macedonia could well be the place to achieve success as the likes of rent and utilities are so much cheaper here.
The Netherlands
The Netherlands is friendly to business owners and entrepreneurs, with the primary location for commerce being Amsterdam. Amsterdam has a rich history for industry and business, and the government fosters a favourable environment, despite the higher tax rate. There are generous services here that enable residents to benefit, making the trade-off with taxes worthwhile. For example, this area is unique in that it offers allowances for those moving here, such as housing benefits, tax deductions for spouses and other similar incentives.
There’s a lot to consider when starting a business in any country, but especially if you’re expanding to a new destination, from tax laws and the market. But some countries are more accommodating to new businesses than others, as these destinations have shown, to help entrepreneurs thrive.
