According to the Quality of Life Index from NatWest International’s Personal Banking, 70 percent of expats who started a business abroad believe they have attained greater growth. The study revealed that the three countries most favoured for enterprise are; Singapore, USA and Hong Kong. The worst countries for entrepreneurialism are UAE, Spain and China.
The research, together with The Centre of Future Studies looks at how countries support entrepreneurs who are looking to stimulate growth and whether expats find it easy to conduct business abroad. A major benefit of starting and running a business overseas is the faster growth, according to 78 percent of expatriate business owners. The lower cost of resources is another benefit according to 74 percent. Tax breaks are a huge incentive for 65 percent of the expats who are in business.
Disadvantages were also reported in the research, with regulation and standards being the main obstruction for 71 percent. The manager of NatWest International Personal Banking, Dave Isley said:
“A new breed of entrepreneurs is emerging and it is encouraging to see that the ‘21st pioneers’ are thriving in foreign climes. It is interesting to see that Singapore, Hong Kong and the USA are fruitful entrepreneurial countries according to the index yet China and UAE rank so low. Given the current economical climate, it is no surprise that expat entrepreneurs in Portugal, Spain and France do not feel they have a positive business outlook.”
More than half of all respondents consider the outlook for running a business overseas to be good.
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