If you’re thinking of moving to Europe and working from the continent, now might be the best time to go.
Many EU countries offer digital nomad visas and remote working schemes – and Europe is also proving to be an ideal location to open a business.
In a survey of 50 countries worldwide, ten European countries ranked as the top places to launch a startup.
With strong possibilities for economic growth and excellent quality of life, here is what some European countries can offer new business owners.
What are the best countries to start a business in 2023?
The AI-powered site Business Name Generator analyzes 50 countries to find the best places to launch a startup.
The company looks at economic factors for each country such as corporate taxes, economic growth and spending, as well as social factors including employee happiness and quality of life.
The Czech Republic is the best country to launch a startup in 2023
The Czech Republic emerged as the top country for startups according to the Business Name Generator ranking.
The eastern European country benefits future business owners with low start-up costs – only 1.1% of Gross National Income (GNI) per capita.
New entrepreneurs can also enjoy a low business tax rate of 19%.
The Czech Republic does not rank well for quality of life or happiness. But the country has a reasonable salary – averaging $1,820 – which is compatible with the low cost of living ($743 excluding rent).
Finland will be the happiest country in the world in 2023
Finland came second in the ranking for the best place to start a business in 2023.
The Scandinavian country combines a low business tax of 20% with a high salary averaging $4,550.
Finland scored the highest in the world for happiness and performed well in the quality of life category.
The Netherlands offers business owners the highest quality of life by 2023
Although ranked seventh overall, the Netherlands took the top spot for quality of life.
The country is on the higher end for startup costs at 4% of GNI per capita and has a 25.8% business tax.
But salaries are attractive, averaging $3,943, and the northern European country also scores well for employee happiness.
Denmark will have the highest monthly salary in 2023
If high income is at the top of your priorities, Denmark might be the place for you. Its average salary is $5,965, making it the highest in Europe.
The country also offers prospective entrepreneurs low start-up costs of 0.2% of GNI per capita and ranks second for quality of life.
The cost of living is on the high end, however, at roughly $1,107 per month.
The United Kingdom will have zero costs starting in 2023
Britain benefits new business owners with the lowest set-up costs in Europe – you don’t have to pay anything – and a 19% business tax.
It put the UK in sixth place, brought down by its poor quality of life score and employee happiness rating.
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