These days, we are living in a highly globalized society where the development of digital tech practically made sure to forever erase the national borders. Well, at least in terms of commerce and your ability to efficiently run a company.
You see, over the last couple of years (to no small extent due to the outbreak of the COVID-19 pandemic) we have seen a whole slew of new assets like telecommuting, cloud, and ecommerce that made the process of starting up and running a company abroad far easier.
Now, all it takes is to pinpoint the country where you want to spend the rest of your working days and that offers favorable market conditions and you will be ready to start your small business empire. Let’s see if we can help you out with the choice.
Singapore
Singapore started its rise to business fame as a British trading colony in the 19th century and continued to serve as a very powerful business hub for markets of East Asia and an excellent launch pad for all entrepreneurs who want to take a shot at this market. What's even more important is that this city-state has a very business-oriented western mentality so you won't experience any obstacles in terms of paperwork or logistics. And even in spite of its small national territory the country still packs countless popular attractions, nature reserves, very high living standards, and close vicinity to other Asian countries.
Montenegro
Montenegro is a small jewel safely tucked in on the eastern Adriatic coast just across the shores of Italy. What makes this country so special? Well, aside from the stunning nature, tourist-friendly population, and easy access to the entire Mediterranean, Montenegro has, since gaining its independence in2006, made big steps toward the EU while still retaining traditional economic bonds with the Balkans, Eastern Europe, and even Asia and the Middle East. As soon as you buy an apartment in Montenegro you will be at that sweet spot where you have access to everything while having to compromise very little which is always good.
Australia
This may sound a bit on the nose, but the fact remains that Australia is an economic powerhouse and one of the most startup-friendly nations in the world. But, these two claims are only scratching the surface. Speaking in business terms, Australia is very closely connected to Asian markets but also with Great Britain and Europe, features trained labor, and even when it comes to simple tools like workwear, finding quality men’s workwear in Australia is a breeze. So, even if we are not speaking about one of the most affordable picks on the list, its infrastructure and business layout definitely warrants the mention.
Vietnam
Vietnam is a country with a very troubled history but, according to all indicators, a very bright future. Leaving the cold war background safely in the past, Vietnam has, by the end of the 80s, conducted a very thorough ‘Doi moi’ economic reform that turned the country into one of the economic powerhouses of the Indochina peninsula and East Asia in general. What’s even more promising is that the United States now stands as the country’s most prominent trade partner. All these things turn Vietnam into a country with stunning nature, affordable amenities, and free access to some of the most important markets.
Ethiopia
Ethiopia is still very far from earning the status of business paradise, but we can't ignore the fact that the nation is making tremendous efforts to get there and present an excellent business opportunity for investors who are ready to take a leap of faith and wait a bit for the results. Essentially, this landlocked country has tried to compensate for its unfavorable position by endless economic reforms, incentives for foreign investors, focus on the manufacturing sector, and access to very affordable labor. All these things combined with the access to the vast African market make Ethiopia a country to keep a very close eye on.
Morocco
Last but not least, we would like to cover yet another African country with business stardom written in its future. Let us start by saying that Morocco has one of the most favorable locations in the world – with entire Africa at its back and easy access to the Mediterranean, Europe, and the Middle East in the palm of its hand, the nation is simply poised for success. The local government is perfectly aware of that making clear that the investments for the development of the manufacturing and tourism sector are on the way. The ease of doing business is also improving on a year-to-year basis so keep this option on the table.
So, there you have it – the top six countries you should consider for starting your foreign business empire. Keeping in mind that ecommerce, outsourcing, and telecommuting made setting up the startup and competing in the global market incredibly easy, building a successful business boils down to finding the country that offers developed infrastructure, incentives for small business owners, and where you would actually like to spend your time around. We hope the six mentions we gave you presented some of the interesting options or even inspired you to come up with a couple of ideas of your own.