Economy
Which Country is the Cheapest for Starting a Business?

Which Country is the Cheapest for Starting A Business?
Starting a new business isn’t as simple as coming up with an idea.
In addition to the time investment needed to formulate and create a business, there’s often a hefty capital requirement. A new business usually requires paying different fees for licensing, permits, and approvals, and many governments also have minimum on-hand capital requirements.
And costs are relative. Though it might be more costly to start a business in some countries on paper, affordability also takes into account relative income.
These graphics from BusinessFinancing.co.uk use data from the World Bank’s Doing Business 2020 report to examine the startup cost for a small-to-medium-size LLC in the largest business cities across 190 countries.
The Cost of Starting a Business in Different Countries
From a pure cost perspective, the affordability of starting a business is extremely dependent on where you are located.
Some countries make the cost of business extremely low to encourage more economic activity. Others have high or nearly inaccessible fees to protect existing businesses, or to simply cash in on the entrepreneurial spirit.
Country | Cost (2020 USD) | % of Monthly Income |
---|---|---|
Venezuela | 0 | -% |
Rwanda | 0 | -% |
Slovenia | 0 | -% |
Kyrgyzstan | 8 | 0.1 |
Sudan | 8 | 0.13 |
Timor Leste | 10 | 0.09 |
Azerbaijan | 11 | 0.04 |
Kazakhstan | 12 | 0.02 |
Ukraine | 12 | 0.06 |
Egypt | 13 | 0.07 |
South Africa | 13 | 0.03 |
Mauritania | 14 | 0.12 |
Uzbekistan | 14 | 0.13 |
Chile | 16 | 0.02 |
United Kingdom | 17 | 0.01 |
Belarus | 18 | 0.04 |
Pakistan | 20 | 0.16 |
Croatia | 27 | 0.03 |
Sierra Leone | 29 | 0.81 |
Armenia | 30 | 0.1 |
Burundi | 30 | 1.77 |
Iran | 31 | 0.09 |
Benin | 32 | 0.38 |
Liberia | 32 | 0.87 |
Niger | 32 | 0.78 |
Afghanistan | 33 | 0.86 |
Georgia | 33 | 0.1 |
Mongolia | 37 | 0.17 |
Romania | 38 | 0.05 |
Botswana | 40 | 0.08 |
New Zealand | 43 | 0.02 |
South Korea | 47 | 0.02 |
Kosovo | 49 | -% |
Angola | 54 | 0.63 |
Togo | 56 | 1.29 |
Indonesia | 74 | 0.3 |
Bulgaria | 75 | 0.11 |
Moldova | 76 | 0.24 |
Mozambique | 76 | 2.09 |
Russia | 77 | 0.11 |
Congo (Democratic Republic of the) | 80 | 2.39 |
Ireland | 86 | 0.02 |
Lesotho | 86 | 0.89 |
Mauritius | 86 | 0.1 |
Lithuania | 90 | 0.07 |
Tunisia | 93 | 0.42 |
Belize | 99 | 0.33 |
Bhutan | 100 | 0.45 |
Madagascar | 100 | 2.72 |
Laos | 105 | 0.68 |
Montenegro | 105 | 0.16 |
Denmark | 110 | 0.02 |
Serbia | 112 | 0.24 |
Trinidad and Tobago | 115 | 0.1 |
Malawi | 117 | 4.72 |
Morocco | 120 | 0.52 |
Zambia | 120 | 1.28 |
Cameroon | 125 | 1.24 |
Ghana | 125 | 1.03 |
Vietnam | 128 | 0.73 |
Tajikistan | 136 | 1.86 |
China | 138 | 0.21 |
India | 142 | 0.98 |
Bangladesh | 149 | 1.11 |
Ethiopia | 150 | 3.21 |
Honduras | 152 | 0.85 |
Czech Republic | 158 | 0.13 |
Uganda | 163 | 3.67 |
Canada | 165 | 0.05 |
Argentina | 167 | 0.21 |
Eritrea | 174 | 4.63 |
Kiribati | 174 | 0.7 |
Estonia | 176 | 0.11 |
Sri Lanka | 176 | 0.56 |
Turkey | 177 | 0.28 |
Myanmar | 179 | 1.73 |
Nepal | 186 | 2.43 |
Jamaica | 189 | 0.48 |
Thailand | 201 | 0.43 |
North Macedonia | 202 | 0.52 |
Algeria | 203 | 0.79 |
Comoros | 204 | 1.9 |
Greece | 204 | 0.14 |
Slovakia | 209 | 0.17 |
Brazil | 218 | 0.35 |
Nigeria | 223 | 1.68 |
Bahrain | 231 | 0.14 |
Micronesia, Federated States of | 231 | 0.82 |
Paraguay | 232 | 0.61 |
Dominican Republic | 233 | 0.39 |
Singapore | 238 | 0.06 |
Taiwan | 239 | -% |
Sweden | 259 | 0.07 |
Tonga | 262 | 0.78 |
Portugal | 268 | 0.17 |
Latvia | 287 | 0.25 |
Samoa | 296 | 1 |
France | 318 | 0.11 |
Tanzania | 322 | 4.55 |
The Gambia | 326 | 6.71 |
Libya | 328 | 0.59 |
Guinea-Bissau | 332 | 5.72 |
Senegal | 343 | 3.35 |
Kenya | 353 | 3.01 |
Peru | 355 | 0.77 |
Costa Rica | 363 | 0.4 |
Colombia | 364 | 0.85 |
Brunei | 366 | 0.18 |
Hungary | 369 | 0.34 |
South Sudan | 373 | 5.31 |
Palau | 375 | -% |
Australia | 377 | 0.1 |
Guinea | 380 | 6.42 |
Poland | 387 | 0.36 |
Philippines | 389 | 1.44 |
Swaziland (Eswatini) | 425 | 1.59 |
Guyana | 436 | 1.29 |
Namibia | 446 | 1.15 |
Papua New Guinea | 459 | 2.71 |
Vanuatu | 484 | 2.04 |
Mali | 493 | 8.02 |
Oman | 502 | 0.65 |
Hong Kong | 512 | 1.2 |
Germany | 524 | 0.16 |
Central African Republic | 529 | 14.55 |
Malaysia | 567 | 0.83 |
Zimbabwe | 576 | 5.01 |
Chad | 591 | 13.58 |
Albania | 597 | 1.71 |
Marshall Islands | 610 | -% |
Malta | 620 | -% |
Japan | 641 | 0.24 |
Fiji | 705 | 1.65 |
United States of America | 725 | 0.16 |
Panama | 730 | 0.66 |
Spain | 736 | 0.34 |
Cambodia | 746 | 7.55 |
Finland | 797 | 0.23 |
Yemen | 808 | 10.7 |
Kuwait | 814 | 0.31 |
Guatemala | 819 | 2.63 |
Bosnia and Herzegovina | 833 | 1.93 |
Seychelles | 842 | 0.75 |
Jordan | 860 | 2.67 |
Somalia | 900 | -% |
Haiti | 941 | 14.03 |
Gabon | 947 | 2.18 |
Nicaragua | 948 | 6.6 |
El Salvador | 975 | 3.53 |
Dominica | 1073 | 2.31 |
Iceland | 1089 | 0.23 |
Barbados | 1159 | 0.92 |
Congo (Republic of the) | 1229 | 25.46 |
Israel | 1241 | 0.41 |
Saudi Arabia | 1267 | 0.81 |
Antigua and Barbuda | 1271 | -% |
Bolivia | 1293 | 5.67 |
Luxembourg | 1343 | 0.27 |
Uruguay | 1344 | 1.13 |
Syria | 1392 | 10.41 |
Grenada | 1410 | -% |
Mexico | 1450 | 2.34 |
Switzerland | 1463 | 0.27 |
Norway | 1482 | 0.27 |
Iraq | 1573 | 4.34 |
Cyprus | 1576 | 0.72 |
Liechtenstein | 1619 | -% |
Ecuador | 1630 | 4.23 |
Bahamas | 1810 | 0.89 |
Netherlands | 2190 | 0.59 |
Equatorial Guinea | 2322 | 7.18 |
Belgium | 2402 | 0.74 |
Austria | 2475 | 0.71 |
Lebanon | 2855 | 5.35 |
Suriname | 3030 | 11.14 |
Qatar | 3952 | 0.92 |
San Marino | 4672 | -% |
Italy | 4876 | 2.02 |
United Arab Emirates | 7444 | 2.23 |
At a glance, the cheapest regions for starting a business include Central Asia and Africa.
But the cheapest countries on the dollar for a new startup are Venezuela, Rwanda, and Slovenia. While the former does have fees that only total $0.21, both Rwanda and Slovenia have no fees for new businesses, though Slovenia does have a capital requirement of €7,500.
Expensive countries for new businesses are also spread across the world. There are some in Europe, including Italy at $4,876 and Austria at $2,475, as well as the Americas, including Suriname at $3,030 and Ecuador at $1,630.
The most expensive countries, however, are largely in the Middle East. They include #1 UAE at $7,444, #4 Qatar at $3,952, and #6 Lebanon at $2,855.
Which Country is the Most Affordable for Starting a Business?
Just as costs vary by country, so too does relative affordability.
Though some countries are cheaper than others for starting a business on the dollar, the picture changes when accounting for monthly income. When it comes to the cost of starting a business relative to monthly income, many developed countries take the cake.
Not including countries with missing data, the most affordable countries for starting a business include the UK, Denmark, and Ireland in Europe, South Korea in East Asia, and New Zealand in Oceania. Startup costs in each range from just 1%-2% of monthly income.
The picture is similar in the Americas, where Chile and Canada have the lowest relative fees at 2% and 5% of monthly income respectively. Even the U.S.—which has a decently high cost of $725 for starting a business—is relatively affordable at 16% of monthly income.
Some of the least affordable countries lie in the Middle-East and Central America. Haiti and Suriname have startup costs that are 1,403% and 1,114% of monthly income, while Yemen has affordability rates of 1,070%.
But the least affordable countries are in Africa. Many countries on the continent have startup costs that are more than 100% of monthly income, but the Republic of the Congo and the Central African Republic have affordability rates of 2,546% and 1,455% of monthly income, respectively.
Where is the best place to start a business? It can depend on the barrier to entry. But the biggest barrier takes time and ingenuity: finding the right idea at the right time.
Healthcare
Charted: Average Years Left to Live by Age
Visualizing the number of years left to live for Americans at every age, reveals the broader trends in American life expectancy.

How Many Years Do You Have Left to Live?
At the start of the 19th century, when there fewer than 1 billion humans on the earth, global life expectancy at birth stood at roughly 29 years.
This is a startlingly low figure—because life expectancy is a statistical projection of how many more years a person can expect to live, based on the mortality rates at the time. And since the infant mortality rate in particular was so high, life expectancies accurately summarized the low likelihood of many babies living to adulthood.
However, since the 1920s, life expectancy across all ages has improved leaps and bounds, thanks to rapid advancements in nutrition, healthcare, and sanitation.
We visualized the current American life expectancy by age and gender, using data from the Office of Social Security, which bases their current projections on 2020 mortality rates.
American Life Expectancy at Every Age
A key takeaway with life expectancy is that it increases as one gets older. This is easily seen in the table below, which lists the remaining years left to live at a given age for an American male and the projected life expectancy.
Age | Years Remaining (Men) | Life Expectancy (Men) |
---|---|---|
0 | 74.12 | 74.12 |
1 | 73.55 | 74.55 |
2 | 72.58 | 74.58 |
3 | 71.60 | 74.60 |
4 | 70.62 | 74.62 |
5 | 69.63 | 74.63 |
6 | 68.64 | 74.64 |
7 | 67.65 | 74.65 |
8 | 66.65 | 74.65 |
9 | 65.66 | 74.66 |
10 | 64.67 | 74.67 |
11 | 63.68 | 74.68 |
12 | 62.69 | 74.69 |
13 | 61.70 | 74.70 |
14 | 60.71 | 74.71 |
15 | 59.73 | 74.73 |
16 | 58.76 | 74.76 |
17 | 57.79 | 74.79 |
18 | 56.84 | 74.84 |
19 | 55.90 | 74.90 |
20 | 54.97 | 74.97 |
21 | 54.04 | 75.04 |
22 | 53.12 | 75.12 |
23 | 52.21 | 75.21 |
24 | 51.30 | 75.30 |
25 | 50.39 | 75.39 |
26 | 49.48 | 75.48 |
27 | 48.57 | 75.57 |
28 | 47.66 | 75.66 |
29 | 46.76 | 75.76 |
30 | 45.86 | 75.86 |
31 | 44.97 | 75.97 |
32 | 44.07 | 76.07 |
33 | 43.18 | 76.18 |
34 | 42.29 | 76.29 |
35 | 41.39 | 76.39 |
36 | 40.50 | 76.50 |
37 | 39.62 | 76.62 |
38 | 38.73 | 76.73 |
39 | 37.85 | 76.85 |
40 | 36.97 | 76.97 |
41 | 36.09 | 77.09 |
42 | 35.21 | 77.21 |
43 | 34.34 | 77.34 |
44 | 33.46 | 77.46 |
45 | 32.59 | 77.59 |
46 | 31.73 | 77.73 |
47 | 30.87 | 77.87 |
48 | 30.01 | 78.01 |
49 | 29.17 | 78.17 |
50 | 28.33 | 78.33 |
51 | 27.50 | 78.50 |
52 | 26.67 | 78.67 |
53 | 25.86 | 78.86 |
54 | 25.06 | 79.06 |
55 | 24.27 | 79.27 |
56 | 23.48 | 79.48 |
57 | 22.71 | 79.71 |
58 | 21.95 | 79.95 |
59 | 21.21 | 80.21 |
60 | 20.47 | 80.47 |
61 | 19.74 | 80.74 |
62 | 19.03 | 81.03 |
63 | 18.32 | 81.32 |
64 | 17.63 | 81.63 |
65 | 16.94 | 81.94 |
66 | 16.26 | 82.26 |
67 | 15.58 | 82.58 |
68 | 14.91 | 82.91 |
69 | 14.24 | 83.24 |
70 | 13.59 | 83.59 |
71 | 12.94 | 83.94 |
72 | 12.30 | 84.30 |
73 | 11.67 | 84.67 |
74 | 11.05 | 85.05 |
75 | 10.46 | 85.46 |
76 | 9.88 | 85.88 |
77 | 9.32 | 86.32 |
78 | 8.77 | 86.77 |
79 | 8.25 | 87.25 |
80 | 7.74 | 87.74 |
81 | 7.25 | 88.25 |
82 | 6.77 | 88.77 |
83 | 6.31 | 89.31 |
84 | 5.88 | 89.88 |
85 | 5.47 | 90.47 |
86 | 5.07 | 91.07 |
87 | 4.70 | 91.70 |
88 | 4.35 | 92.35 |
89 | 4.02 | 93.02 |
90 | 3.72 | 93.72 |
91 | 3.44 | 94.44 |
92 | 3.18 | 95.18 |
93 | 2.96 | 95.96 |
94 | 2.75 | 96.75 |
95 | 2.57 | 97.57 |
96 | 2.42 | 98.42 |
97 | 2.28 | 99.28 |
98 | 2.15 | 100.15 |
99 | 2.04 | 101.04 |
100 | 1.93 | 101.93 |
101 | 1.83 | 102.83 |
102 | 1.73 | 103.73 |
103 | 1.63 | 104.63 |
104 | 1.54 | 105.54 |
105 | 1.45 | 106.45 |
106 | 1.36 | 107.36 |
107 | 1.27 | 108.27 |
108 | 1.18 | 109.18 |
109 | 1.10 | 110.10 |
110 | 1.02 | 111.02 |
111 | 0.95 | 111.95 |
112 | 0.88 | 112.88 |
113 | 0.82 | 113.82 |
114 | 0.76 | 114.76 |
115 | 0.70 | 115.70 |
116 | 0.65 | 116.65 |
117 | 0.60 | 117.60 |
118 | 0.56 | 118.56 |
119 | 0.52 | 119.52 |
120 | 0.48 | 120.48 |
At birth, an average American baby boy can expect to live till just past 74. But if the boy reaches adulthood, then at 21 he might live to a full year more, past 75. This trend persists even towards the end of life when the years we have left drop rapidly, influenced by the higher likelihood of death.
American women, on the other hand, have a higher life expectancy than men. At birth the gap is close to six years, narrowing steadily to around one year by 85.
Age | Years Remaining (Women) | Life Expectancy (Women) |
---|---|---|
0 | 79.78 | 79.78 |
1 | 79.17 | 80.17 |
2 | 78.19 | 80.19 |
3 | 77.21 | 80.21 |
4 | 76.22 | 80.22 |
5 | 75.23 | 80.23 |
6 | 74.24 | 80.24 |
7 | 73.25 | 80.25 |
8 | 72.25 | 80.25 |
9 | 71.26 | 80.26 |
10 | 70.27 | 80.27 |
11 | 69.27 | 80.27 |
12 | 68.28 | 80.28 |
13 | 67.29 | 80.29 |
14 | 66.30 | 80.30 |
15 | 65.31 | 80.31 |
16 | 64.32 | 80.32 |
17 | 63.34 | 80.34 |
18 | 62.36 | 80.36 |
19 | 61.38 | 80.38 |
20 | 60.41 | 80.41 |
21 | 59.44 | 80.44 |
22 | 58.47 | 80.47 |
23 | 57.50 | 80.50 |
24 | 56.54 | 80.54 |
25 | 55.58 | 80.58 |
26 | 54.61 | 80.61 |
27 | 53.66 | 80.66 |
28 | 52.70 | 80.70 |
29 | 51.74 | 80.74 |
30 | 50.79 | 80.79 |
31 | 49.84 | 80.84 |
32 | 48.89 | 80.89 |
33 | 47.94 | 80.94 |
34 | 47.00 | 81.00 |
35 | 46.06 | 81.06 |
36 | 45.12 | 81.12 |
37 | 44.18 | 81.18 |
38 | 43.24 | 81.24 |
39 | 42.31 | 81.31 |
40 | 41.38 | 81.38 |
41 | 40.45 | 81.45 |
42 | 39.52 | 81.52 |
43 | 38.60 | 81.60 |
44 | 37.68 | 81.68 |
45 | 36.76 | 81.76 |
46 | 35.85 | 81.85 |
47 | 34.94 | 81.94 |
48 | 34.04 | 82.04 |
49 | 33.14 | 82.14 |
50 | 32.24 | 82.24 |
51 | 31.35 | 82.35 |
52 | 30.47 | 82.47 |
53 | 29.59 | 82.59 |
54 | 28.72 | 82.72 |
55 | 27.86 | 82.86 |
56 | 27.01 | 83.01 |
57 | 26.16 | 83.16 |
58 | 25.32 | 83.32 |
59 | 24.49 | 83.49 |
60 | 23.67 | 83.67 |
61 | 22.85 | 83.85 |
62 | 22.04 | 84.04 |
63 | 21.24 | 84.24 |
64 | 20.45 | 84.45 |
65 | 19.66 | 84.66 |
66 | 18.88 | 84.88 |
67 | 18.10 | 85.10 |
68 | 17.34 | 85.34 |
69 | 16.58 | 85.58 |
70 | 15.82 | 85.82 |
71 | 15.08 | 86.08 |
72 | 14.36 | 86.36 |
73 | 13.64 | 86.64 |
74 | 12.94 | 86.94 |
75 | 12.26 | 87.26 |
76 | 11.60 | 87.60 |
77 | 10.95 | 87.95 |
78 | 10.31 | 88.31 |
79 | 9.70 | 88.70 |
80 | 9.10 | 89.10 |
81 | 8.53 | 89.53 |
82 | 7.98 | 89.98 |
83 | 7.44 | 90.44 |
84 | 6.93 | 90.93 |
85 | 6.44 | 91.44 |
86 | 5.99 | 91.99 |
87 | 5.55 | 92.55 |
88 | 5.15 | 93.15 |
89 | 4.76 | 93.76 |
90 | 4.41 | 94.41 |
91 | 4.08 | 95.08 |
92 | 3.78 | 95.78 |
93 | 3.51 | 96.51 |
94 | 3.27 | 97.27 |
95 | 3.05 | 98.05 |
96 | 2.85 | 98.85 |
97 | 2.68 | 99.68 |
98 | 2.52 | 100.52 |
99 | 2.37 | 101.37 |
100 | 2.23 | 102.23 |
101 | 2.09 | 103.09 |
102 | 1.96 | 103.96 |
103 | 1.84 | 104.84 |
104 | 1.72 | 105.72 |
105 | 1.61 | 106.61 |
106 | 1.51 | 107.51 |
107 | 1.41 | 108.41 |
108 | 1.32 | 109.32 |
109 | 1.24 | 110.24 |
110 | 1.16 | 111.16 |
111 | 1.09 | 112.09 |
112 | 1.02 | 113.02 |
113 | 0.96 | 113.96 |
114 | 0.90 | 114.90 |
115 | 0.85 | 115.85 |
116 | 0.80 | 116.80 |
117 | 0.75 | 117.75 |
118 | 0.70 | 118.70 |
119 | 0.66 | 119.66 |
120 | 0.62 | 120.62 |
Interestingly, women outlive men in nearly every country in the world, due to a mix of sociological, behavioral, and biological reasons.
COVID-19: Reversing A Decade of Increasing American Life Expectancy
While the current American life expectancy at birth seems reasonably high, it is nearly two years lower than the 2022 figure which used the 2019 mortality rate. It is also lower than the life expectancy at birth in 2009, which used 2005 mortality rate.
Year | Life Expectancy at Birth (Men) | Life Expectancy at Birth (Women) |
---|---|---|
2009 | 74.12 | 79.95 |
2014 | 76.10 | 80.94 |
2019 | 76.04 | 80.99 |
2023 | 74.12 | 79.78 |
American mortality rates went up 17% between 2019–2020, in part because of COVID-19, in turn affecting life expectancy. The U.S. also had a higher COVID-19 mortality rate compared to its peers two years after the pandemic first struck.
Thus, American life expectancy may not improve immediately to 2019 levels, which can affect insurance premiums, pension benefits, and plans.
Where Does This Data Come From?
Source: Office of Social Security, U.S. Government.
Note: The life expectancy at a given age is the average remaining number of years expected prior to death for a person at that exact age, born on January 1, using the mortality rates for 2020 over the course of their remaining life.
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