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Written for EO by Erin Yurday. Erin Yurday is the founder and CEO of NimbleFins, a startup that aims to educate consumers with data-driven research so they can make the best financial decisions for their individual situation.
While any great business starts with an idea—that “aha!” moment—we all know there’s a lot more to running a successful startup than just the initial inspiration. While many entrepreneurs don’t think about location as a factor, a quick look at the global startup map from startupRANKING shows some countries produce more startups than others. What makes a country more startup-friendly than others?
Using data from the World Bank, World Economic Forum, the United Nations Educational, Scientific and Cultural Organization, and the Organization for Economic Co-operation and Development allow us to take a data-driven approach to determine which countries in Europe are the best for startups. Data can reveal insights into a country’s economic health, cost of doing business, business climate and labor quality.
Regardless of where you live and work, understanding the relative strengths and weaknesses of your country can help you navigate the challenges faced by any startup—from employee salaries and hiring a great team to legal regulations and market competition.
Top European Countries for Startups
The best countries for startups are well rounded. They offer relative strength across a range of quantifiable factors. While they might not be the best in any one category, they generally offer an environment that is amenable to startups in terms of business costs, business climate, labour quality and strength of the economy.
Germany
Despite not wi… Read More
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