Which country(ies) are the worst for running a business?
Yesterday (and today), I read from some makers that in their particular country, it is not easy to run a business.
We can all agree that each country has its obstacles.
@martin_donadieu and @thomas_sanlis1 would say it is France.
(You can check WHY in Martin's and Thomas' posts.)
On the other hand, I found this Visual Capitalist map (tho from 2018) which countries are the best/the worst for entrepreneurs.
How do you perceive running a business in your country? What don't you like about your system?
Feel free to complain! 😀
Replies
Almost every EU developed country is not a good for running a business because of the high taxes.These countries are more corporate driven mindset, bevause they hire a lot of people and paying a lot of taxes.
I would choose Rumania or Bulgarian because of low taxes.
minimalist phone: creating folders
@eljo_prifti Bulgaria seems to be good + Czech Republic. When it comes to lower taxes, Slovakia and Hungary could also be good, but the political system (orientation) is not the best. :/ :D
Interesting, how Goergia and Macedonia rank highly. It appears former communist countries are making a comeback.
@immanuel_rajadurai Georgia is very friendly to IT businesses. It’s quite easy for a foreigner to open a company there — the costs are minimal, and taxes are very low. No one really pays attention to your company, no inspections or interference — at least until you grow to a significant size.
Many companies from Russia that target international markets have set up in Georgia, some even relocating entire teams there.
I considered this option myself, but I’m not comfortable with the idea of moving to Georgia: the quality of housing is poor, healthcare is weak, though the food quality is excellent and prices are very low.
I own property in Georgia, I visit the country from time to time, and this is based on my personal experience.
minimalist phone: creating folders
@immanuel_rajadurai I think that they may be trying to make it more available to attract investors from more economically prosperous countries?
Interesting perspectives
minimalist phone: creating folders
@justchrisjobs Oh, I almost forgot about it. I once wanted to visit Cuba but then realised that conditions with the internet are not the best for visitors :DDDDD
minimalist phone: creating folders
@justchrisjobs 🙈 How is it there with the internet actually? I mean that your country treats tourists and Cuba-born people differently(?)
@busmark_w_nika India too much population cut throat competion lack of VCs events , workshops and poor mindset of people . But Still trying my best to build the best community application to unite people for better tommorow thorough my idea https://apps.apple.com/in/app/wey-volunteer-earn/id6747277817 WEY App whose mission and aim is to connect nearby people to help each other in help requests and earn credits. If anyone likes what im building do tell I am very small currently solo but this could be something good in todays world . Wey is designed for everyday people who either need help or are willing to offer it. Our target audience includes students, working professionals, elderly individuals, and homemakers who may require support with daily tasks. It also appeals to socially conscious individuals, local volunteers, and community-driven youth who want to make a positive impact in their surroundings. Wey empowers both helpers and those in need, creating a balanced ecosystem of mutual support and trust.
Just here for the comments 👀
minimalist phone: creating folders
@joseph_burutu Feel free :D I will be moderating it here for a while! :D
Russia, of course - if you do well your business gets milked and / or taken away by the authorities. That's why some of the best entrepreneurs were already leaving Russia even before the war, and are now scattered all over the world.
minimalist phone: creating folders
@val_avdeenko1 I have heard that taxes were somehow bearable here, but the situation with war even complicated it.
It depends on the type of business. Since we’re part of the startup community, for projects like ours, Russia is a dead end. Anything aimed at the international market that looks like an independent tech product operating under market conditions won’t find funding in Russia — there’s no real culture of angel investing or startup funding.
The only real prospects lie in projects created in collaboration with government or semi-government corporations, since they’re the only ones with the resources to bring such products to market.
I understand this isn’t just a Russian problem. However, other types of businesses can still be developed in Russia. If you align yourself with the system — using subsidized loans and tax incentives — you can function to some extent.
But small businesses that rely on scaling through market-rate credit have no real prospects right now. The central bank rate is 20%, which makes almost any business unsustainable — except for those receiving direct state support.
So there are a few possible paths: either start with your own funds and grow the project slowly, or focus the business on areas that receive government support.
In reality, there’s only one viable path — the second one — since IT ideas become outdated quickly.
Growing slowly with your own funds just isn’t compatible with how fast the tech landscape evolves.
minimalist phone: creating folders
@kirill_golubovskiy But when it comes to online tech, in Europe, it is most common to use own funds. On the other hand, in the US, they are mostly funded.
@busmark_w_nika It depends on the complexity of the project. Many startups are single-feature products, and yes — it’s better to start small, make mistakes, build a reputation as an entrepreneur, and gain market experience.
But at some point, you’ll want to develop something more complex — and your own funds simply won’t be enough for that.
But maybe I’m judging from my own experience — I tend to gravitate toward B2B solutions and understand that space best.
Entering the B2B market as a solo founder is quite difficult without funding.
minimalist phone: creating folders
@kirill_golubovskiy Would you go VC or rather solo (bootstrapped)?
@busmark_w_nika My strategy is to first squeeze the most out of my own resources — focus, team, sales, and scaling effects.
Only then do I look for partners who can amplify, not replace, my initiative.
The real question is how far your resources can take you — which means choosing the right features for the MVP is critical.
The UK used to be a very friendly for the entrepreneurs but now so much now aways. I kept hearing very positive opinions about Portugal.
minimalist phone: creating folders
@aleksandra_trueme But I have heard that in Portugal, there are high taxes. around 40%?
@busmark_w_nika over last couple of years Portugal introduced significant tax benefits for start-ups and foreign income arising from overseas, including rents, capital gains, interest, and dividends, are largely exempt from Portuguese tax.
@busmark_w_nika @aleksandra_trueme I wouldn't suggest going to Portugal!
In the summer of 2023, my partner and I decided to move there exactly for those reasons (we're both freelancing from home and love traveling; sort of "digital nomads" but we really don't like this name ahah).
Unfortunately, things changed at the beginning of 2024, when the government decided to remove all tax benefits for foreigners with income from abroad.
And except for this, the environment is not very foreign-friendly. We lived in Porto (the second biggest city after Lisbon) for a year and struggled a lot.
Not only because people generally don't speak English (even younger ones!) but also because there's an increasing hatred toward foreigners who are seriously impacting locals' lives (rent and groceries prices keep on increasing, more people move to Portugal but the cities aren't equipped to handle them, and so on).
Obviously, it's not our fault that things are changing, but the government's incapacity to ensure a good quality of life for everyone. Still, locals struggle to understand it and blame foreigners.
@busmark_w_nika @pamela_arienti
Pamela I am so sorry to hear that! Thank you for sharing your experience. A couple of my friends moved to Portugal a while back and I guess they already assimilated before the changes took place as they have never mentioned anything.