Regardless of where you in the world you choose to do it, expanding a business can be a difficult endeavor. Numerous factors can contribute to a company’s success and failure, some of which are outside of your control. But you can choose where you decide to expand your business, and choosing the right country can make all the difference between a venture that thrives for many years and one that quickly fizzles out to a new market.
But how do you go about choosing the best countries for business? How do you ensure your expand your business to the right country? In this simple guide, we examine some of the lesser-known countries for business. Read on to uncover more!
Bahrain
Bahrain stands apart from other options thanks to its role as a physical and economic gateway to the rest of the Middle East. The country boasts a population of around 1.4 million, and the economy is vibrant and continuously growing. As for the country’s GDP, it is a healthy $35 billion overall, with GDP per capita at just under $24, 0000 and GDP growth at 3.8%. The country also has a remarkably low unemployment rate of approximately 3.5%.
Seychelles
If searching for a nation with a tourism-driven business scene and bright economic future, then you should look no further than Seychelles. This country comprises 115 islands in the Indian Ocean, and while it doesn’t have many people with a population of about 100,000, its outlook for economic growth is promising.
The GDP growth in Seychelles is estimate at more than 5% and the unemployment rate remains low, at around 3%. About a quarter of the country’s workforce works in the tourism industry, but lately more resources are being injected towards other industries such as renewable energy, ICT, and offshore financial.
When you consider that along with the low tax burden in Seychelles, it is easy to see why many young businesses find this country a good place to call home. No wonder you should never leave it out in your list of the best countries for business.
