Best Place to Start a Small Business

More start-ups than ever are looking abroad when it comes to setting up their business location. Finding the right balance between standard of living, great infrastructure and ease of doing business are all factors millennial entrepreneurs are paying close attention to.

The good news is that price comparison site GoCompare have produced an interactive tool that allows you to track the best locations around the globe for running a new company. If you’re about to invest in a small business or are looking to relocate, it’s well worth checking out their research.

The team at GoCompare took a look at a number of different parameters including broadband speed, whether you can get local funding and how cheap it is to live. They also rated each major city for diversity.

Here are the top five best cities to start a small business in:

5. London: It’s no surprise that the UK capital gets a good rating, they’ve invested a lot in infrastructure and support over the last decade or so, particularly for tech start-ups.

4. Singapore: The Republic may not have been on your list but it has seen an enormous transformation over the last 30 years and is a vital hub for those businesses looking to operate in Asia and the Pacific regions.

3. New Zealand: With a decent standard of living and plenty of support in cities like Wellington and Auckland, there’s a lot to be said for setting up business down under.

2. Toronto: Canada figures a lot in the top ten, more than any other country, and Toronto is top of the tree. Tech innovation is big across the nation and the standard of living is pretty good too.

1. Estonia: Most entrepreneurs probably haven’t heard of Tallinn but it’s the number one city on the list. With start-up funding available through the Estonian Visa Programme and the low cost of doing business, it’s perfect for small enterprises.

You can find the full interactive tool here.