Analysis: Czech Republic Is the 6th Best European Country for Starting a New Business

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The Czech Republic is considered to be one of the best countries in Europe for starting a business. Photo credit: Pixabay.

Czech Rep., Feb 22 (JS) – An analysis conducted by NimbleFins ranked the top 12 countries in Europe for startup businesses, with the indicators being economic health, cost of doing business, business climate, and the quality of labor force.

Germany, the UK, and Ireland rank in the top 3 respectively, while Czech Republic ranks 6th – behind Switzerland and Estonia. Sources of the analysis include the World Bank, OECD, UNESCO, and the World Economic Forum.

The Czech Republic placed 7th for the indicator of economic health, which measures the GDP, its growth and its rate per capita, as well as the unemployment rate. These show the strength of the country’s economy.

Meanwhile, the Czech Republic ranked 1st in terms of the cost of business, which involves the costs for operating a business, tax rates, and wages. The Czech Republic was also ranked 12th for the quality of the workforce, with 90.2% of its population having at least an upper secondary education, and only 20.2% with tertiary education.

The article was first published on Brno Daily.

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Czech Culture