Governments around the world have made it challenging for various countries to start businesses. However, there are many entrepreneurs who have overcome the obstacles of doing business in their countries in order to achieve their goals. Expert Market, an entrepreneurial consulting firm based in Texas, performed a study on the most determined entrepreneurs in developing countries by comparing the number of businesses created in a region to the challenges faced in that region to start businesses.
- Botswana
Botswana is a middle-income country in sub-Saharan Africa. It takes both men and women over twice the amount of time to register a firm in Botswana than it does in other countries in sub-Saharan Africa. Two of the other major challenges to doing business in Botswana are a lack of money and training. - Malta
Malta is a high-income country in the World Bank’s Middle East and North Africa region. It takes people almost a week longer to register firms in Malta than in other countries in the Middle East and North Africa. - Timor-Leste
Timor-Leste is a lower-middle-income country in the World Bank’s East Asia and Pacific region. Timor-Leste is a country that gained its independence in 2002 and has been working on developing stability and security in the region since 2008. - Gabon
Gabon is an upper-middle-income country in the World Bank’s sub-Saharan Africa region. It takes almost double the amount of time for people to register firms in Gabon than it takes to register firms in the rest of sub-Saharan Africa. - Brazil
It takes over three times as long to start a business in Sao Paolo, Brazil than in other average city cities in the World Bank’s Latin America and the Caribbean region. Two of the greatest challenges in starting a business in Brazil are corruption and bureaucracy. Brazilians have to go through many government agencies to start businesses. Corruption is a common problem for entrepreneurs in developing countries to deal with. - Belize
Belize is an upper-middle-income country in the World Bank’s Latin America and Caribbean region. It takes almost two more weeks to register firms in Belize than in other countries in the Latin America and Caribbean Region. - Antigua and Barbuda
Antigua and Barbuda is a high-income country in the World Bank’s Latin America and Caribbean region. The nation’s biggest industry is tourism. - Bulgaria
Bulgaria is an upper-middle-income country in the World Bank’s Europe and Central Asia region. It takes people over twice as long to register firms in Bulgaria as it does in other countries in Europe and Central Asia. Corruption is a major issue in Bulgaria. - Croatia
Croatia is a high-income country in Europe. It takes people in Croatia twice the number of procedures to register firms than it does in other countries in Europe and Central Asia. Another major challenge in Croatia is that the economy in Croatia is still transitioning from a socialist economy with many paychecks coming from public monopolies or the government. - Suriname
Suriname is an upper-middle-income country in the World Bank’s Latin America and Caribbean region. It is almost three times the cost to start a business in Suriname than in any other country in South America. - Vanuatu
Vanuatu is a lower-middle-income country in the World Bank’s East Asia and Pacific region. It takes over twice the cost it takes to start businesses in other parts of the East Asia and Pacific region. - United States
While many would not consider entrepreneurs in the United States to be as determined as entrepreneurs in developing countries, entrepreneurs in the United States face their own set of challenges. Entrepreneurs in the United States face many regulations and costs in order to start businesses. - South Africa
South Africa is an upper-middle-income country. It takes 43 days for men and women to start a business in South Africa, and about 27 days in other parts of sub-Saharan Africa. - Uganda
Uganda is a low-income country in the World Bank’s sub-Saharan African region. It takes Ugandan citizens almost twice the number of procedures than it takes the rest of the people in sub-Saharan Africa to register a firm. - Cyprus
Cyprus is a high-income country in the World Bank’s Europe and Central Asia region. It takes almost three times the amount of income per capita for people to start businesses in Cyprus than it does in other countries in the Europe and Central Asia region.
It may be difficult to start businesses in developing countries, but determined entrepreneurs in developing countries can make it happen.
– Jennifer Taggart
Photo: Flickr