Undertaking is hard work, and although anyone regardless of age, gender or even socioeconomic status can do it, not everyone can do it. There is an important fact, the place where you venture greatly impacts the result you will get. ‘Echarle win’, sometimes is not enough, the social and political conditions in which you will operate will make a difference. In accordance with Global Entrepreneurship Monitor (GEM), in its report 2022/2022 Adapting to a “New Normal”These are the best countries to open a business and undertake.
How you got to the list of the best countries to start a business
To begin with, one must understand how the Global Entrepreneurship Monitor (GEM). In the first place, it is not data that is taken out of the sleeve, it is a study that quantifies certain aspects in the regions that are incorporated.
Therefore, the GEM, each year presents its comparative evaluation of business and entrepreneurial conditions around the world. So, his objective is to classify countries in terms of their ability to promote new businesses, that is, to undertake.
So, what are the best countries to open a business and undertake?
- United Arab Emirates
- Saudi Arabia
- taiwan
- India
- Netherlands
- Lithuania
- Indonesia
- Swiss
- South Korea
- Qatar
- China
- Israel
- Latvia
- Norway
- USA
- Canada
- Germany
- France
- Sweden
- Luxembourg
The GEM 2022/2023 report includes a National Survey of Experts (NES) comprehensive. The NES, which captures the perspectives of more than 2,000 relevant experts (a minimum of 36 per nation) in the 51 participating countries, on the conditions governing entrepreneurship in their lands.
In addition, the GEM produces the National Business Context Index (NECI), who averages the scores obtained from the 13 conditions: social, cultural and political by answering the pertinent questions depending on the topic.
The 13 business conditions:
- A1. Entrepreneurial Finance: Is there enough funding for new ventures?
- A2. Ease of access to business finance: Are these funds easily accessible?
- B1. Government Policy, Support and Relevance: Are there promotion and support policies for startups?
- B2. Government Policy, Taxes and Bureaucracy: Aren’t startups overloaded?
- c. Government Business Programs: Are quality support programs available?
- D1. Entrepreneurial education in schools: Do schools introduce entrepreneurial ideas?
- D2. Higher business education: Do universities offer courses on starting a business?
- AND. Transmission research and development: Is the research easily communicated to new businesses?
- F. Commercial and professional infrastructure: Are quality services available and affordable?
- G1. Ease of entry into market dynamics: Are markets free, open and growing?
- G2. Ease of entry into loads and regulations: Do the regulations encourage and not restrict entry?
- h. Physical infrastructure: Is it of good quality, available and affordable?
- YO. Social and cultural norms: encourages and celebrates the entrepreneurial spirit?
Not surprisingly, high-income economies perform better than low- and middle-income economies on NECI scores. The United Arab Emirates, with the highest NECI score for the second year in a row, emerges as the best place to start a new business in 2023, followed by Saudi Arabia, Taiwan, India and the Netherlands.
Where was Mexico?
In the case of Mexico, its position has declined substantially during the pandemic, that is, it was strongly affected by the crisis.
Therefore, the score for Mexico first fell from 2019 to 2020, improved a bit in 2021, but in 2022 it fell again. To give you a broader idea, it went from 23rd place out of 54 economies in 2019, to 44th place out of 51 participating countries in 2022. In other words, it dropped 21 places in just four years.
According to the report, since Mexico depends to a large extent on tourism, it was affected by the pandemic and has not yet been able to recover.
If you want to know more about the best countries to open a business and undertake, we leave you the detailed report of Global Entrepreneurship Monitor (GEM).
Mariel Otero Journalist passionate about fashion, the world of beauty and the source of lifestyle. Lover of stories worth telling, series, movies and sagas. Cheesy and closet geek.