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As an entrepreneur, the world can really be your oyster. With current technological advances and the affect of the Covid-19 pandemic, working remotely has turn into the new regular. Many business house owners now greater than ever contemplate relocating, however which locations provide the best business alternatives for entrepreneurs?
Compare My Jet has researched metrics corresponding to the GFCI 30 rating, degree of corruption, new business density, danger for worldwide business and unemployment charges of 20 business hubs round the world to create a rating of the most entrepreneur-friendly cities.
Singapore ranks as the least corrupt nation for entrepreneurs
If you’re an entrepreneur on the lookout for the excellent location to pursue your subsequent business enterprise, there’s no higher metropolis for you than Singapore. The city-state has a corruption rating of 85, which makes it the least corrupt location in the evaluation, serving to entrepreneurs preserve a clear company picture and improve the degree of belief of their business relationships. For readability, the nearer a rating is to 100, the much less corrupt it’s.
Other nations in the prime three embrace Amsterdam, which has a comparatively excessive financial freedom rating of 77, and Frankfurt, which is the fourth-least corrupt metropolis in the evaluation.
Top 5 Cities for Entrepreneurs to Live and Work In
|
Rank |
City |
GFCI 30 Rank |
GDP Growth Annual % |
Corruption Score * |
New Business Density |
Risk for International Business |
Index of Economic Freedom |
Unemployment Rate % (2020) |
|
1 |
Singapore |
4 |
-5.4 |
85 |
9.99 |
Low |
90 |
5.19 |
|
2 |
Geneva |
20 |
-2.4 |
84 |
4.64 |
Low |
82 |
4.94 |
|
3 |
Amsterdam |
17 |
-3.8 |
82 |
3.1 |
Low |
77 |
4.09 |
|
4 |
Frankfurt |
14 |
-4.6 |
80 |
1.36 |
Low |
73 |
4.31 |
|
5 |
New York |
1 |
-3.6 |
67 |
– |
Low |
75 |
8.31 |
*0 = Highly Corrupt, 100 = Very Clean
Hong Kong is the solely location to have a delicate danger degree for worldwide business
As the solely metropolis in the analysis to be thought-about a delicate danger metropolis for worldwide business, Hong Kong is the least supportive of entrepreneurial pursuits. The Chinese particular administrative area additionally has the highest new business density determine of all the nations in our evaluation, with 19.22.
Ranking barely higher than Hong Kong are Shenzhen and Beijing. Country-wide, China is a medium danger nation for worldwide business and has an index of financial freedom rating of 58, the lowest degree out of all the nations researched.
The 5 Least Entrepreneur-Friendly Cities in the World
|
Rank |
City |
GFCI 30 Rank |
GDP Growth Annual % |
Corruption Score * |
New Business Density |
Risk for International Business |
Index of Economic Freedom |
Unemployment Rate % (2020) |
|
20 |
Hong Kong |
3 |
-6.1 |
76 |
19.22 |
Sensitive |
5.8 |
|
|
19 |
Shenzhen |
16 |
2.3 |
45 |
8.58 |
Medium |
58 |
5 |
|
18 |
Beijing |
8 |
2.3 |
45 |
8.58 |
Medium |
58 |
5 |
|
17 |
Shanghai |
6 |
2.3 |
45 |
8.58 |
Medium |
58 |
5 |
|
16 |
Paris |
10 |
-7.9 |
71 |
5.25 |
Low |
66 |
8.62 |
*0 = Highly Corrupt, 100 = Very Clean
Ian Wright, CEO and Founder of Compare my Jet, explains: ‘With the current popularity of remote working, many entrepreneurs decide to take their business activities to the most attractive locations. It is vital for business owners to consider the benefits and drawbacks of a place to live and work and avoid locations with high corruption rate and high risk for international business.’
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