Soo..what criteria should be included when thinking about the best countries in the world for young entrepreneurs? Size and age of population? Government attitude towards start-ups? Innovation and entrepreneurial culture?
A large and youthful population which is getting richer in terms of GDP per capita. This is perfect for a young entrepreneur who’s looking to rapidly grow their client/customer base. Shenzhen (Chinese city in between Hong Kong and China) has a large start up community which is gets a lot of government support in the form of tax allowances and subsidies.
An extensive history for being industrial, and is constantly pioneering entrepreneurial breakthroughs especially around tech and finance. USA may have plateued in a number of industries (due to having so many years of experience) but they continue to lead when it comes to their entrepreneurial culture. USA has this “drop-out of school” culture which demonstrates how early Americans begin pursuing financial independence. Having so many templates to follow such as Mark Zuckerberg, Robert Kiyosaki etc only encourages other young dreamers to start early.
Currently ranked the most open economy in the world. This means that its the easiest country to trade from on an international scale. Entrepreneurs in Singapore can also benefit from the third highest GDP per capita, which means that the market generally has people who are prepared to spend money on the right products/businesses. Singapore is also know for being very pro-business with a lot of investment from venture capitalists going towards start-ups.
So overall, we’ve gone with the three nations above as three of the best countries in the world for young entrepreneurs. This doesn’t explicitly mean that they are the top three, just three amongst the best. Obviously the best country to be in for a young entrepreneur will depend on the business they’re building. You should also consider that a hub, or any place where there’s a lot of activity could end up being a bad thing. If there are a lot of tech start ups in a country, and you’re trying to start a tech business, you may be facing a lot of competition and you could get drowned out. There are always pros and cons to consider wherever you decide go. Remember, the best place to start is where you already are!