EU nations top Global Startup Index
STOCKHOLM, SWEDEN — Countries from the European Union (EU) are the most ideal nations to start a business in, according to the Global Startup Index 2023.
The index, created by Adventrum’s Business Name Generator (BNG), placed nine EU countries on its top 10 list, highlighting the union’s excellent startup environment.
The Czech Republic, Finland, Sweden, Estonia, and Slovakia took the top five spots in the index, while the Netherlands, Austria, Denmark, and Portugal were placed in the 7th to 10th places.
The United Kingdom (UK), meanwhile, was the only non-EU nation to enter the top 10, landing in the sixth spot.
BNG analyzed 50 countries for their 2023 index, looking into the business tax rates, economic GDP (gross domestic product) growth, and the cost of startup procedures to determine the optimal location for launching a business.
The study also looked at each country’s happiness score, cost of living, and the quality of life of employees to find out which country helped drive productivity and growth.
BNG spokesperson Chloe Chai said, “Entrepreneurs must carefully consider the economic, demographic, and cultural factors of potential locations.”
“In today’s interconnected world, common challenges faced by businesses can amplify the pressure of running a company, making it increasingly crucial for entrepreneurs to choose the right location for their firm,” the firm added
