- 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.
- 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.
- Israel ranks the highest in terms of the Country Startup Friendliness Index, making it a very favorable location for new businesses.
Vilnius, Vilnius County, Lithuania – November 2024 – New research by Hostinger analyzed 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, we 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.
Full list of findings:
Canada tops the list with a composite score of 100. The country has the youngest entrepreneurs, an impressively fast business setup time of just 2 days, and the highest ease of doing business index score of 98. Canada’s strong business environment offers both ease of entry and moderate startup costs, making it an ideal destination for young entrepreneurs.
Israel ranks second with a composite score of 99, offering a highly supportive environment for startups, particularly in the technology and innovation sectors. Despite a relatively high cost to start a business at $2,647, Israel’s country startup friendliness index of 51.5 makes it a hub for entrepreneurship. 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. Despite having a lower ease of doing business index at 60, India remains an attractive market for entrepreneurs due to its quick startup process and growing economy.
Germany secures fourth place with a composite score of 90, thanks to its transparent business culture, highly educated workforce, and numerous business hubs like Berlin and Munich. With a cost of $1,071 to start a business and an ease of doing business index score of 62, Germany provides a solid foundation for entrepreneurs looking to tap into the European market.
Nigeria comes in fifth with a composite score of 87. It offers a relatively affordable cost to start a business at $679, but its ease of doing business index is lower at 58, and the time required to start a business is longer at about 8.5 days. Despite these challenges, Nigeria’s growing startup ecosystem holds great potential for entrepreneurs.
Singapore ranks sixth with a composite score of 85. Entrepreneurs are drawn to its highly efficient regulatory framework and moderate cost to start a business at $315. Despite the older average age of startup founders at 33, Singapore’s ease of doing business index of 95 and well-developed infrastructure make it a desirable destination for startups.
Portugal ranks seventh with a composite score of 83, standing out for its $0 cost to start a business, making it one of the most financially accessible countries for entrepreneurs. The country also offers a quick startup process of 3.5 days, making it attractive for founders looking for a low-entry financial barrier and a supportive environment.
The United Arab Emirates ranks eighth with a composite score of 80. Despite its high ease of doing business index of 91, the UAE has the highest cost to start a business at $7,443. While it provides a dynamic environment for entrepreneurs with global ambitions, the high costs may present a barrier to entry for some early-stage founders.
The Netherlands secures ninth place with a composite score of 78. It offers one of the lowest costs to start a business at just $51, combined with a strong ease of doing business index of 90. However, the slightly older average age of founders at 34 places it lower on the list, though it remains an attractive and stable destination for startups.
South Africa rounds up the ranking with a composite score of 17.80. While it has an extremely low cost to start a business at just $13, one of the lowest in the study, the ease of doing business index is relatively low at 57. Additionally, the average time required to start a business is 8 days. Despite these challenges, South Africa’s emerging entrepreneurial ecosystem provides opportunities for young founders.
A spokesperson from Hostinger commented on the study: “For young entrepreneurs, the best countries offer more than just opportunity—they provide the perfect launchpad with fast setup times, low costs, and supportive environments. Places that simplify the startup process and lower financial barriers are becoming magnets for ambitious young founders. Meanwhile, countries with thriving business networks create the perfect conditions for innovation and long-term success. As the next wave of business leaders emerges, these nations are setting the stage for entrepreneurial breakthroughs, where big ideas can take off quickly and efficiently.”
To access the complete research, please follow this link.
Since 2004, Hostinger has been dedicated to removing the barriers to online success, empowering everyone to harness the internet’s full potential. With a mission-driven approach, Hostinger provides reliable web hosting solutions that enable individuals and businesses alike to establish and grow their online presence effectively.
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