When considering where to startup, you might want to consider Hong Kong.
But if you’d like to stay closer to home, there’s good news. The U. S. is still one of the most attractive places to start a new business.
When it comes to things like workforce education, low cost of living, and economic health, the U.S. and four other countries come out on top for the best places to launch a startup, according to research compiled by Washington State University’s College of Business.
Want to see how each country stacks up? Check out this infographic from Washington State University’s College of Business.
Top of the list because of its extremely low corporate tax rates, Hong Kong also boasts high literacy and post-secondary education rates, which translates to a workforce than can handle the needs of a burgeoning company.
The country to the north’s rate of inflation is only 1.2%, which indicates that Canada’s good economic health should remain consistent for some time. And what startup doesn’t like stability?
While the U.S.’s corporate tax rate is steep, the country makes up for it with the lowest cost of living. This means cheaper offices, supplies, the whole shebang.
Who wants to pay high corporate taxes? Save that money and move your startup to Singapore, where you’ll only pay 17%, leaving your business with more to do more.
Signapore may have low corporate taxes, but their rental costs are another story. Just a hop and a skip away though, Australia boasts much lower rental costs, a more literate workforce, and plenty of space to go about your business.
This article was written by Rachel Gillett from Fast Company and was legally licensed through the NewsCred publisher network.