Starting a new business is surely an overwhelming idea but it is way easier said than done. Depending on where you want to start your business, the cost can be reasonable to incredibly high. From permits and approvals to licensing and other fees, you mind end up investing a fortune in some places.
The infographic below shows the different costs of starting a business in countries across the world. According to it, there are numerous countries that have an extremely low business cost in order to encourage more economic activity.
At a glance, the countries with the lowest cost to start a business are regions in Africa and Central Asia. Rwanda, Venezuela, and Slovenia are the cheapest countries for a business startup with Rwanda and Slovenia having zero fees for the new business setup.
On the other hand, the expensive countries for a business are majorly from Europe and the Americas including Italy and Austria with the total cost of $4,876 and $2,47, respectively. Furthermore, from the Americas, Ecuador at $1,630 and Suriname at $3,030.
As far as the most expensive countries in terms of a business startup are concerned, these are located in the Middle East and include, UAE at $7,444, Qatar at $3,952, and Lebanon at $2,855.
Infographic by: Visualcapitalist.com