As some jurisdictions introduce anti-business policies, some jurisdictions are taking advantage and instituting pro-business measures in the hopes of attracting large corporations, startups, and a lot of capital to their country, state, or municipality. Whether it is low taxation or tax breaks, some cities are trying to bring the best and brightest to their place.
You could be the head of a massive corporation, the CEO of a new ground-breaking startup, or a CFO of a medium-sized enterprise tasked with trying to relocate the company to a more business-friendly area.
So, what cities should you consider either starting a business or relocating a venture? We’ve got you covered with these parts of the globe. Here are the nine best cities to start a business (in no particular order):
1. Glasgow, Scotland
Seeing that Ireland is quickly becoming home to a myriad of world-renowned brands, Scotland wants a piece of that pie. Glasgow may not be the primary destination for businesses, but it should be, if only for the untapped potential in the vast talent pool. With a vibrant landscape, entertainment scene, and education system, companies can boost their bottom line by making a gamble on the workforce.
2. New York, New York
What does New York City not have? Arts, entertainment, infrastructure, wealth, Wall Street, education, and the list goes on and on. Despite the local and state governments imposing anti-growth measures, New York City remains the top destination for any business. This is part of the reason why Amazon wanted to have half of its second headquarters there, until politicians intervened and destroyed 25,000 jobs in the process.
3. Hong Kong
Hong Kong is an example of free market capitalism. An island unto itself that imports everything it needs, Hong Kong is one of the wealthiest places on the planet. It continues to grow and grow – and grow. Even under the mighty hand of the Chinese government, Hong Kong remains instrumental in the East Asian region. Indeed, Hong Kong is a case study in how an economy grows.
4. Tokyo, Japan
Many might make the case that Japan has suffered from a zombie economy for too long. In the 1990s, Japan suffered what is now known as the lost decade. In the 2000s, Japan had zombie banks. Today, the world’s third-largest economy is having a tough time to kick out of its stagnation, so Tokyo is trying to incorporate some pro-business policies to kickstart the economy. Abenomics might not be ideal, but Japan is desperate for growth.
5. Toronto, Ontario
Toronto is Canada’s largest economy – it is the fourth-largest economy in North America. It has everything you would want in a marketplace: affordability, world-class transit, a flood of brainpower, publicly-funded healthcare (as a company you’re not obligated to extend insurance to your workforce, and tax rates at the level of inflation. Plus, there are many financing and funding options available for new businesses starting out.
6. London, England
Great Britain might be going through trials and tribulations of Brexit right now, but it is still the economic engine of Europe. London is essentially the New York City of Europe, and all the capital in Europe is being channeled into Britain. Even if the government were to pass destructive policies, its general business atmosphere would offset the negative consequences.
7. Jerusalem, Israel
Israel is the most open, advanced, and innovative economy in the Middle East. You could say that Israel is open for business, compared to the rest of the region. Israel has every industry you could imagine: energy, technology, services, manufacturing, finance, and so much more. With the support of every western nation, Israel still has room for economic growth.
8. Melbourne, Australia
Australia, the outback, is in the middle between significant growth and untapped potential. For some reason, Australia has not generated as much as wealth as it could – and should. It has everything you could ask for – as both a citizen and a business: beautiful climate, a competitive marketplace, affordability, and a lot more. This is especially true in Melbourne, not Sydney.
9. Zurich, Switzerland
Yes, despite its affordability issue, Switzerland, and Zurich in particular, remains home to capitalism. Although some industries thrive better than others, there are still an incredible number of opportunities for businesses – large or small, old and new. It’s just up to you to tap into those chances and find a whole new market. Heck, you don’t even need to grab this clientele, just relocate your operations there and continue to sell to your current clientele.
On one hand, many places worldwide are beginning to resent the free-enterprise system, or, at the very least, disapproving of their governments enacting pro-business public policy that favors companies over the people. On the other, there are just as many cities that want to bring in their capital to their municipality, which can only generate higher tax revenue, create more jobs, and make everyone prosper. Now you know which cities are serious about creating business.