Is New Zealand A Good Place To Run A Business?
Location is one of the most important factors to keep in mind when you want to establish a business. If you are looking for a location that is ideal for both investors and entrepreneurs, New Zealand is a good choice. The country offers impressive investor protection and personal freedom. It is also free of corruption and red tape. According to the World Bank, New Zealand is ranked third in the Ease of Doing Business Index. An increasing number of investors have recognized the benefits of developing businesses in this country and they have invested significant amounts.
Key Facts about New Zealand
New Zealand is a small country. It is an island with a population of about 4.5 million people. It is a market economy and it was one of the top 10 countries in the 2013 Human Development Index. This country has also been recognized for innovation and economic freedom. It is a largely urban country and a significant portion of its population lives in the leading urban areas. Its population is also younger when compared to other countries.
Here’s a video to whet your appetite for this great country:
Reasons Why New Zealand is a Great Place to Run a Business
New Zealand is a great place to establish a business because there is considerable government support. The government has established various funding programs for investors who have good ideas and require support. Entrepreneurs can take advantage of business startups and growth grant programs. Some of the programs are designed to fund charities, research, and even offer scholarships.
The country also offers a great political and legal climate for doing business. There is immense economic freedom in New Zealand. This is a good, strong environment to establish a business especially if you want to create intellectual property.
You will not be required to pay capital tax gains once you establish a business in New Zealand. This is a significant advantage for both investors and entrepreneurs.
New Zealand offers a better life generally compared to other countries. You can choose to live in the city, by the sea, along the beach or in the mountains in this country. The choices are unlimited. You also enjoy better work-life balance.
The country’s laws are similar to the United States’ regulations and this makes it easy for you to transition from one country to another.
The New Zealand population is well educated and this means that you have easy access to trained personnel for your business. You can set up a highly skilled team in a short period.
Why New Zealand Sometimes Isn’t So Great
One of the main drawbacks of doing business in this country is the fact that it is a long way from other countries. It takes several hours to get to New Zealand even by plane and this can deter some investors from travelling to the country.
Another disadvantage is the small population and this means that there are fewer people to target for your products and services.
New Zealand is also prone to earthquakes and this can put your business at risk. An earthquake can cause extensive damage to your business, making you incur significant losses.
It is important to consider the advantages and disadvantages before you start a business in this country.
Where Should I Locate My Business?
There are a couple of options within New Zealand for your business location.
We take a quick look at the following:
And best of luck with that business…