With many Entrepreneurs scratching their heads on selecting the ideal country to conduct business, NextUpAsia.com made comparisons from reputable websites to select on Best Countries to Operate Businesses in 2013. We looked at what Inc.com, Forbes.com and Bloomberg.com has to say. Ranking just the top 5 countries in descending order, surprisingly a common country in those lists stands out as probably the best bet on running a business in the year of the Snake. Here’s the comparison list.
|1||New Zealand||Canada||Hong Kong|
Yes, you guessed it right! Hong Kong, a country under the special administrative region (SAR) of the People’s Republic of China (PRC) with just a population of seven million people, it is one of the most densely populated areas in the world and it has been decades known as one of the world’s leading international financial centres. Hong Kong has a major capitalist service economy characterized by low taxation and high value-added manufacturing base making it one of the freest economies in the world and a gateway to investment in China. With its corporate taxes as low as 16.5%, sandwiched between Canada & Singapore, and in a flourishing market, it’s no wonder businesses are flocking to Hong Kong.
Studies by Inc. points out that the country is actively making regulation reforms, in the areas of cost and minimum capital, that help foster start-ups. Just look at the simplicity of starting a business against East Asia & Pacific, and OECD countries from this chart below.
More data supporting that study can be found on www.doingbusiness.org as well.
Would Hong Kong still remain the the ideal place for business in Asia or could Singapore pose greater attraction in the near future?
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