A study by NimbleFins shows Ireland is among the top five countries in Europe for running a startup. The country received the highest score of Economic Health in Europe, it has been revealed.
NimbleFins' study analysed the economic data of 31 countries in Europe. The best European countries for startups have highly educated populations, strong economies, healthy business environments and relatively low costs for conducting business.
To determine the ranking, NimbleFins analysed data from the World Bank, World Economic Forum, UNESCO, OECD and tax consultancies.
Study highlights for Ireland in 2020
- Ireland has the Healthiest Economy in Europe, boasting a GDP of £78,661 per capita, and expecting the highest GDP growth (5.5%). The Economic Health category takes into account traditional economic measures such as GDP, GDP per capita, GDP growth and unemployment rate.
- Third lowest corporate tax rates in Europe (12.5%). However, non-trading income is taxed at 25%.
- Top 10 in Business Climate, showing the ease of doing business and the general business environment in Ireland. The business climate category includes many wide-ranging factors such as perceptions of judicial independence, competitive environment and availability of funding.
In a similar study last year, Ireland was in third place. In the updated version for 2020, we've expanded the number of countries in the study, as well as included two new, useful metrics.
You can read the NimbleFins article here.