Europe beats UK for online start-ups: new study
The UK lags behind much of Europe for ease of setting up an online business, new data analysing 99 countries reveals.
While Europe dominates with seven out of 10 of the top positions in the e-commerce league list compiled by Best Accounting Software, the UK only manages to reach 12th position, partly due to its slower broadband and mobile speeds.
Researchers examined 20 different categories that could influence the success of an online business, including speed and penetration of internet coverage, number of secure servers, the percentage of the population who shop online, ease of doing business, start-up costs, logistics, level of economic freedom, corporate tax rates, and access to a skilled digital workforce.
At the top of the list is Denmark, which was awarded the best scores for secure internet servers (over 277,000 per one million people) and share of individuals with a finance account (99.92%). The cheapest of the top 10 countries for starting a business, the Scandinavian country also ranked second highest for how much of the population use the internet for online purchases/paying bills (88%) and is positioned near the top for total number of internet users (98%).
The second-best location for e-commerce is Switzerland, followed by The Netherlands, the US, Norway, Sweden, Singapore, Germany, Canada, and Luxembourg. Finland bet the UK to the 11th spot – although the UK came in ahead of the UAE (13th), Belgium (14th) and France (15th).
However, while western countries came out the strongest overall, the benefits were typically met with higher corporate tax rates.
The full list can be accessed here.
Photo courtesy of Canva.com