Seven out of ten expats believe that their start-up businesses have been helped by moving abroad according to a survey by Natwest International.
Dave Isley, head of NatWest International Personal Banking, said: “Setting up your own business can be difficult and you would imagine doing so abroad would be a task for the brave. But a new breed of entrepreneur is emerging and it is encouraging to see these modern-day pioneers are thriving in foreign climes.”
Singapore was ranked the best country to nurture start-ups for expats, followed by Hong Kong and the U.S, all of which offered the budding start-ups the necessary ingredients to thrive. The survey took into account factors which have an effect on new businesses - including taxes and lighter bureaucracy, along with the economic climate of the country and its infrastructure - and ranked the destinations accordingly.
Melinda Earsdon who started her own business in Hong Kong, said: “The local infrastructure is also perfectly suited to managing a business. The banks are reliable, the communications infrastructure is well established, corruption is low, and there are ready-made networks available through the many chambers that have established operations on the ground.”