Currently, Hong Kong and Singapore are ranked as the easiest places in the world to do business. The reason behind the success of these two countries is that they believe the government should not be involved, and it should let the people decide how they do business.
Chile's national congress has just approved a new law that will make changes to how businesses are started and incorporated in the country. These changes include dropping incorporation costs to zero, setting up an online registration option, and shortening the time frame to a single day. They believe by successfully implementing these laws it would help Chile attract investors and startups into the region.
I believe this will certainly help Chile become more attractive to startups. As a startup, resources such as capital are limited and time is critically important. Being able to set up a business easily and efficiently will be tempting for entrepreneurs. However, I believe there are a number of other factors that will help play a role to determine if Chile truly becomes a place such as Hong Kong or Singapore. I believe some of these factors are easy transportation, easy access and collaboration with research universities, presence of angel investors or venture capitalists, and possibly tax breaks. However, what are the critical few factors that Chile has to have in order to compete with countries such as Hong Kong or Singapore?
Article source - http://www.internationalman.com/articles/chile-to-become-the-easiest-country-in-the-world-to-start-a-business
Chile's national congress has just approved a new law that will make changes to how businesses are started and incorporated in the country. These changes include dropping incorporation costs to zero, setting up an online registration option, and shortening the time frame to a single day. They believe by successfully implementing these laws it would help Chile attract investors and startups into the region.
I believe this will certainly help Chile become more attractive to startups. As a startup, resources such as capital are limited and time is critically important. Being able to set up a business easily and efficiently will be tempting for entrepreneurs. However, I believe there are a number of other factors that will help play a role to determine if Chile truly becomes a place such as Hong Kong or Singapore. I believe some of these factors are easy transportation, easy access and collaboration with research universities, presence of angel investors or venture capitalists, and possibly tax breaks. However, what are the critical few factors that Chile has to have in order to compete with countries such as Hong Kong or Singapore?
Article source - http://www.internationalman.com/articles/chile-to-become-the-easiest-country-in-the-world-to-start-a-business