​​#interesting What is the cheapest country to start a busin | Warren Buffett SAYS

​​#interesting
What is the cheapest country to start a business?

In some countries, the cost of doing business is extremely low in order to stimulate economic activity. Others impose high or nearly unaffordable duties to protect existing businesses or simply to profit from entrepreneurial spirit.

At first glance, the cheapest regions for starting a business are Central Asia and Africa. But this is not the case!

The cheapest countries in terms of dollars for a new startup are Venezuela, Rwanda and Slovenia. While the former has only $0.21 in fees, Rwanda and Slovenia have no fees for new ventures, although Slovenia requires capital of 7,500 euros.

Expensive countries are in Europe, including Italy at $4,876 and Austria at $2,475, and in North and South America, including Suriname at $3,030 and Ecuador at $1,630.

The most expensive countries, however, are mostly in the Middle East. These include UAE #1 at $7,444, Qatar #4 at $3,952 and Lebanon #6 at $2,855.

The most affordable countries for starting a business include the United Kingdom, Denmark and Ireland in Europe, South Korea in East Asia, and New Zealand in Oceania. In each of them, the cost of starting a business is only 1-2% of monthly income.

A similar pattern is seen in North and South America, where Chile and Canada have the lowest relative costs - 2% and 5% of monthly income, respectively. Even in the United States, where the cost of starting a business is quite high at $725, the cost of starting a business is relatively affordable at 16% of monthly income.

The least affordable countries are in Africa. In many countries on the continent, start-up costs exceed 100% of monthly income.

And here's all the styling on one chart