Top 4 EU Countries to Start a Small Business

Top 4 EU Countries to Start a Small Business

We explore the top EU countries to start a small business and a breakdown of just what each country does so well.

One of the benefits of acquiring your European Union citizenship by descent, is an easier time starting a business in the EU. There are many questions that need to be answered when beginning a small business & the topic of where the business should be based is one decision that entrepreneurs frequently have to make.

Although, choosing a suitable country or even city largely comes down to the specifics of your business—Many EU countries have favourable business climates.

The following is an overview of the best EU countries to begin your small business journey and a breakdown of just what each country does so well.

Copenhagen Denmark

1. Denmark

Denmark is one of the top EU countries for entrepreneurs to start a small business. The first quality that makes them a top contender is their strong economy. They are in fact, one of the EU’s best-performing economies based on their solid growth, low unemployment rate and strong GDP.

Denmark’s strong economy produces some of the best living standards in the world. Business owners will find that the high living standards make doing business significantly easier. Entrepreneurs will thrive under such conditions because of various factors including having the necessary infrastructure in place and access to a population that has the means to become customers.

The country also has a transparent regulatory climate which is great for those who were  to start a business as it gives a lot of freedom to business owners. Not to mention, Denmark is ranked the best country in the world for trading across borders. Therefore, your business will face simple regulations if it involves exporting or importing products.

Denmark’s location is also in an ideal position as it is in the heart of Europe. It is seen as a gateway to accessing the multiple surrounding countries. Its geographic proximity to the Nordic countries and western Europe puts the country in a great position for business.

Norwegian twin waterfall

2. Norway

Norway has consistently been placed as a top EU country to start a business.  The country ranks among the top because of its economic standing. Norway is a very wealthy and stable country with one of the highest GDP per capita in the world

The government of Norway is supportive of increasing entrepreneurship as they have taken numerous actions to make the business environment appealing to investors. In fact, entrepreneurs can even start their small business entirely online which saves a ton of time and money. Overall, the country keeps business costs low and has an excellent infrastructure established.

cork city ireland

3. Ireland

Ireland has recently risen to the top of the list for being a prime contender for small business start-ups. The country experienced struggle during the financial crisis but bounced back and now has an economy better than before.

The increase in the GDP is attributed to Ireland’s favourable attitude towards business. The government introduced a number of measures that have created a friendly business environment and encouraged investment.

Their generous tax policy is a measure that has done a lot for the economy’s uprising. The government set the corporate tax rate at only 12.5%. This has flourished the economy as it attracted big players such as Google to invest and establish their headquarters in Ireland. Many of these successful, multinational companies have been flocking to Ireland which is a great thing for the economy. Therefore, it is also positive for small-business start-ups.

As well, the government has made the process of starting a business easier by allocating significant resources to assist start-ups. For example, there are opportunities to receive financial support to assist start-ups as well as other support structures such as professional consultation. Overall, the government has cultivated an environment that is geared towards business success.

Stockholm, Sweden. Riddarholm Church

4. Sweden

Sweden is a Nordic country that is known to have a strong business environment for start-ups. It even has recently been referred to as a European startup hub as the government has been focusing on fostering innovation and entrepreneurship.

The country is also economically very strong with one of the highest standards of living. However, Sweden is a costly country to do business in as the cost of living is very high and there are significant tax burdens. However, there are numerous government support programs available for small businesses that will make up for the high costs.

The government has made the process to start a business in Sweden relatively straightforward. The support from the government paired with a strong middle-class consumer base, solid infrastructure and low regulations has made Sweden a great place to do business.

In Conclusion

If you have European ancestry, you may be able to take advantage of these countries’ business environments, and have a competitive edge over other people who do not have an EU Citizenship. When applying for business grants, support and/or coaching programs, being an EU Citizen simplifies the process significantly.

Learn more about the many benefits of acquiring your EU citizenship in our blog article The Top 5 Benefits of European Citizenship.

How Can I Get Started?

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If you’re interested in applying for European citizenship by ancestry, take our quick pre-screening assessment today and find out if you may be eligible.

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