Czech Republic the ninth-best country in Europe for starting a startup

The Czech Republic is the ninth-best country in Europe for starting a startup company. Within the assessment of economic health, the Czech Republic is seventh with a GDP growth of 2.6% and an unemployment rate of 2.0%.

Czech Republic the ninth-best country in Europe for starting a startup

The Czech Republic has the sixth-best business costs.

interesting reading:  UNICEF Innovative Fund Selects Pakistani Startup WonderTree

The Czech Republic ranked ninth this year, falling slightly from sixth in 2019.

According to the research, the country ranked 21st in quality of labour force, 17th for business climate, 6th for the cost of doing business, and 7th in economic health in 2020, an average rank of 12.8, tied with Sweden, compared to 6.0 for first-placed Germany.

interesting reading:  Apple Launches New 16-Inch MacBook Pro Graphics Configuration, Mac Pro SSD Kit to Offer Upgrades to Customers

Of the country’s successful ranking, NimbleFins’ Founder Erin Yurday said, “The Republic stands out as a favourable country for startups due to attractive corporate tax rates and low costs of doing business—two critical factors for most new companies.”

Strengths include:

  • Low cost of doing business, due to attractive corporate tax rates and below-average salaries and costs of living
  • Widely-educated population, with 90% of adults achieving at least an upper secondary education
interesting reading:  Shopify gains after deal with Walmart expands network's reach

In the 2020 ranking, Republic outperformed Poland, Austria, Luxembourg, Belgium, Spain, France, Portugal, Italy and Greece in the overall rankings.

Originally published at Prague morning

Leave a Reply

Your email address will not be published. Required fields are marked *

Captcha loading...