70% of expat entrepreneurs believe they have achieved more by starting up a business abroad, according to the fourth annual NatWest International Personal Banking (IPB) Quality of Life Index.
They rated Singapore, Hong Kong and the USA as the top three countries for nurturing enterprise, while Spain, UAE and China are the worst. The countries with the most positive business prospects are Canada, Australia, and New Zealand, while those with the least positive outlook are Portugal, Spain and France.
NatWest says the study, in conjunction with The Centre of Future Studies, highlights the extent to which countries promote entrepreneurialism by making it easy for expats to do business, the business climate in the country in which they are working and the prospects for their business in the next three years.
78% of expat entrepreneurs believe faster growth is one of the major advantages of running their business abroad. A further 74% believe access to cheaper resources is a real advantage and for 65% it is the tax incentives that are the big draw. When it comes to disadvantages, 71% believe foreign regulations and standards are a hindrance.
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. A new breed of entrepreneurs is emerging and it is encouraging to see that the ’21st pioneers’ are thriving in foreign climes. It is interesting the see that Singapore
