There are many excellent reasons to expand the business, from exploring new markets to gaining a competitive edge to accessing the fresh talent and reducing costs.
If you think your business could benefit from global expansion, then you are right! After gaining a significant share of their domestic market, many companies reach a point where going global makes sense.
Prior to traveling abroad, you should do your research. When it comes to global expansion, there are many options – and finding the right market can seem overwhelming.
Thus, it’s imperative to determine which country is right to expand your business. The answer will depend on factors like culture, GDP growth, inward investment, availability of skills and labor, quality of infrastructure, employer costs, and the complexity of the regulatory environment.
As experts in global expansion, we know the best countries to do business in. Here are the top five right now…
Denmark
One of the most innovative countries in the world, Denmark remains the easiest European market to do business in. Skills are readily available, and the Nordic nation is far ahead of many other countries when it comes to secure internet server access.
Denmark’s economy also features extensive government welfare measures and fairly equal distribution of income, which is why Danes have such a high standard of living and are frequently regarded as some of the happiest people in the world.
Ireland
Ireland is perhaps a surprising choice, but despite questions about how Brexit will impact the country’s relationship with the UK (its third-largest trading partner), this small nation has a comparatively large economy and a strong labor force.
Business owners have had great news in recent years as the government has increased public spending and lowered some taxes. The high internet use rate in Ireland and the availability of secure servers also make it one of the most attractive markets for organizations that need to protect their data.
Singapore
Look no further than Singapore if you’re seeking to expand the business into the Asian market. The country is consistently ranked among the easiest places in the world to do business, and it’s easy to see why.
Singapore is popular with foreign investors due to its exceptionally business-friendly environment – it has one of the world’s lowest corporate tax rates, and setting up a business only takes 1.5 days and two processes.
It has a highly skilled labor force, political stability, and an efficient economy with many free trade agreements that open up large markets. In recent years, Singapore has also invested heavily in upgrading its infrastructure and connectivity to stay at the forefront of supply chain solutions in today’s global market.
What’s more, Singapore offers affordable airfare to neighbouring countries such as Thailand, Indonesia, the Philippines, and Malaysia — making it a prime location for organizations considering expansion into other Asian markets.
Spain
Spain is another fast-growing destination that should not be missed. With its well-connected position, more and more European companies are expanding into the Iberian Peninsula.
It has long-standing trade relationships with markets in the Middle East, northern Africa, and Latin America, including the world’s biggest market – the European Union. The foreign trade sector has seen consecutive growth in recent years as wages have moderated and productivity has improved.
The country ranks highly in infrastructure, logistics, and advanced IT and telecommunications technology. Also, Spain prides itself on its research and development and investment frameworks, as well as a number of financial and tax incentives available to businesses that contribute to the economy.
Norway
The Best countries to expand business in the world
If you think your business could benefit from global expansion, then you are right! After gaining a significant share of their domestic market, many companies reach a point where going global makes sense.
There are many excellent reasons to expand your business, from exploring new markets to gaining a competitive edge to accessing the fresh talent and reducing costs.
Prior to traveling abroad, you should do your research. When it comes to global expansion, there are many options – and finding the right market can seem overwhelming.
Thus, it’s imperative to determine which country is right for your business. The answer will depend on factors like culture, GDP growth, inward investment, availability of skills and labor, quality of infrastructure, employer costs, and the complexity of the regulatory environment.
As experts in global expansion, we know the best countries to do business in. Here are the top five right now…
Denmark
One of the most innovative countries in the world, Denmark remains the easiest European market to do business in. Skills are readily available, and the Nordic nation is far ahead of many other countries when it comes to secure internet server access.
Denmark’s economy also features extensive government welfare measures and fairly equal distribution of income, which is why Danes have such a high standard of living and are frequently regarded as some of the happiest people in the world.
Ireland
Ireland is perhaps a surprising choice, but despite questions about how Brexit will impact the country’s relationship with the UK (its third-largest trading partner), this small nation has a comparatively large economy and a strong labor force.
Business owners have had great news in recent years as the government has increased public spending and lowered some taxes. The high internet use rate in Ireland and the availability of secure servers also make it one of the most attractive markets for organizations that need to protect their data.
Singapore
Look no further than Singapore if you’re seeking to expand into the Asian market. The country is consistently ranked among the easiest places in the world to do business, and it’s easy to see why.
Singapore is popular with foreign investors due to its exceptionally business-friendly environment – it has one of the world’s lowest corporate tax rates, and setting up a business only takes 1.5 days and two processes.
It has a highly skilled labor force, political stability, and an efficient economy with many free trade agreements that open up large markets. In recent years, Singapore has also invested heavily in upgrading its infrastructure and connectivity to stay at the forefront of supply chain solutions in today’s global market.
What’s more, Singapore offers affordable airfare to neighbouring countries such as Thailand, Indonesia, the Philippines, and Malaysia — making it a prime location for organizations considering expansion into other Asian markets.
Spain
Spain is another fast-growing destination that should not be missed. With its well-connected position, more and more European companies are expanding into the Iberian Peninsula.
It has long-standing trade relationships with markets in the Middle East, northern Africa, and Latin America, including the world’s biggest market – the European Union. The foreign trade sector has seen consecutive growth in recent years as wages have moderated and productivity has improved.
The country ranks highly in infrastructure, logistics, and advanced IT and telecommunications technology. Also, Spain prides itself on its research and development and investment frameworks, as well as a number of financial and tax incentives available to businesses that contribute to the economy.
Norway
The best thing about doing business in Norway is that it’s a very transparent and politically stable country. The tax laws are relatively straightforward, and registering a business is relatively straightforward. Norway is also an attractive option for businesses looking to grow an honest business because government communications can be done easily online.
You’re likely to find highly skilled workers in Norway, especially in IT, design, finance, and music technology. The communication and transport infrastructure are also well-developed, and the population is generally wealthy, so there is plenty of disposable income to be had.
