A new study compiled a list of countries best for early-age entrepreneurs, and Canada ranks first having the youngest entrepreneurs, fast business setup time of 2 days, and highest ease of doing business index of 98.
The survey also indicates that Portugal and South Africa stand out for having incredibly low costs to start a business—$0 and $13, respectively—making them financially accessible for new entrepreneurs.
Furthermore, Israel ranks the highest in terms of the ‘Country Startup Friendliness Index’, making it a very favourable location for new businesses.
These findings are based on research by Hostinger. The company analysed the best countries for early-age entrepreneurs by examining multiple factors.
First, data on the average age of startup founders in each country was collected to identify which nations have younger entrepreneurs. The countries were then ranked from youngest to oldest based on founder age. To further assess startup friendliness, the researchers gathered data on additional factors, including the cost to start a business, the ease of doing business index, the time required to start a business, and the Country Startup Friendliness Index. Finally, the countries were ranked based on their overall startup environment, focusing on those offering the most supportive conditions for young entrepreneurs.
This produced the following ranking:
- Canada
- Israel
- India
- Germany
- Nigeria
- Singapore
- Portugal
- United Arab Emirates
- Netherlands
- South Africa
Canada tops the list and its strong business environment offers both ease of entry and moderate startup costs, making it an ideal destination for young entrepreneurs.
Israel ranks second, offering a highly supportive environment for startups, particularly in the technology and innovation sectors. With an average age of 25 for startup founders, Israel combines youthful energy with strong business networks, fostering a dynamic startup culture.
India ranks third with a composite score of 94. It boasts the fastest time required to start a business at just 1.5 days, though the cost to start a business is moderate at $1,036.
Germany secures fourth place and has numerous business hubs like Berlin and Munich. Nigeria comes in fifth and Singapore ranks sixth.
Portugal ranks seventh, positioning as one of the most financially accessible countries for entrepreneurs. The United Arab Emirates ranks eighth and The Netherlands secures ninth place offering one of the lowest costs to start a business at just $51. South Africa rounds up the ranking list.
