Where to start a business abroad is a difficult task to decide. Plan where you feel like, but remember that these countries are not viable to start a business venture: these 10 countries have been ranked by World Bank where it is most difficult to start a Business. You have some money which you want to invest in a business, make sure you don’t invest it in any of these countries. Recommended: Top 10 countries in the world where it is easiest to start a business
- The Central African Republic: The world’s least developed nation is the place where it is most difficult to start a business. It has 190th rank in ease of starting the business out of 190 ranks in total. It has a long history of disputes and genocides. The country has poor economy, lack of electricity, low GDP and yet very difficult process to start a business.
- Venezuela: Located at the northern coast of South America, establishing a business in Venezuela is difficult. Access to electricity is poor. Also, credit is not granted easily. The report found that Venezuela performed poorly across the 10 criteria on which World Bank judged each country
- Haiti: With a GDP per capita of PPP US$1,200, Haiti is the world’s third destination where business setup is difficult. It has developed its tourist industry but due to poverty, corruption, poor infrastructure, lack of health care and lack of education Haiti is categorized as one of the world's poorest countries.
- Equatorial Guinea: The central African country could not perform well 10 categories of doing business by World Bank starting from the availability of electricity to solving insolvency. A long procedure is also required to establish a business here.
- Eritrea: The State of Eritrea is a country in the Horn of Africa. Eritrea is one of the world’s poorest nations: with minimal foreign exchange reserves and limited infrastructure, it does not attract investors. Also, it has the worst government's human rights record.
- Suriname: The Republic bloc of Suriname is an independent state on the northeastern Atlantic coast of South America. It has a long procedure to start a business.
- Somalia: It is a country located in the Horn of Africa. It is difficult to start a business basically due to civil unrest. The Somalia war is an ongoing war which has indeed hurt its outlook.
- Zimbabwe: It is a landlocked country in South Africa. There are frequent policy changes which hinder business establishment. The frequent changes in government policy cause uncertainty for local and foreign business. Also, a civil unrest is observed in urban areas.
- Chad: It is a landlocked country in Central Africa. With 80% of its people living below poverty line, it is the seventh poorest country in the world. Poor infrastructure, limited resources and burden of refugees neither attract investors nor make it a viable destination for business.
- South Sudan: One of the underdeveloped country of the world is experiencing high debt and little infrastructure which does not allow business to establish well.
Pakistan enjoys a rank of 141 for starting a business. Saudi Arabia 147 and India 130. The poor ranks are broad because of the hiring of labor problems, lack of skilled labor, the rigidity of hours, redundancy cost, unemployment protection scheme, health insurance, and poor infrastructure. But as said by World Bank chief economist Kaushik Basu “An economy can do poorly on ‘Doing Business’ indicators but do well in macroeconomic policy or social welfare interventions.”
Source: Doing Business
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