Three emerging Europe countries: Georgia, Kosovo and Estonia, have been included in a new report which highlights the 12 best global economies to start a business in 2018. Using data from the World Bank, online marketeers Reboot Digital Agency delved into research to discover the best economies to start a business in 2018, in the hope it will offer insight to both budding entrepreneurs and seasoned business people.
While New Zealand, where it takes just one procedure, half a day and less than one per cent of income per capita to start a business topped the list, Georgia came in fourth. The country has made great inroads into cutting bureaucracy and simplifying tax procedures over the past few years, and is now widely recognised as being one of the easiest places on earth to do business.
“Recent economic reforms have earned Georgia a reputation as a ‘star reformer.’ However, challenges remain, and our new strategy aims to help the country use its private sector potential to transition from a strong reformer to a high performer,” said Jan van Bilsen, IFC regional manager for the South Caucasus, earlier this year.
Elsewhere in emerging Europe, Kosovo ranked 10th, while Estonia – known for its ground-breaking e-citizenship and e-residency programmes – ranked 12th.
“It’s encouraging to observe countries like Jamaica, Uzbekistan and Kosovo experiencing vibrant growth,” said Shai Aharony, managing director of Reboot Digital Agency. “It hints we are heading toward a rich, multi-cultural time in business, which will no doubt encourage us to venture to areas anew, to start-up or network. Some may even argue it will become essential to do so. I’m sure we will see continued change in the sector as businesses reform and push beyond old boundaries.”