Organisation:
Visual Capitalist
Resource Link:
Published in 2021, Link
My Key Takeaways
Measuring the cost of setting up a business can be pretty relative.
On paper, some countries might seem cheaper/more expensive from the standpoint of “absolute” cost.
The important concept of “affordability” comes up when you look at the cost of starting a business relative to monthly income.
Here’s a zoom-in on the affordability of countries across the Southeast Asian (“SEA”), a region xpected to be the fourth largest economy in the world by 2030:
- Cambodia – 755% (business setup cost relative to monthly income)
- Myanmar – 173%
- Philippines – 143%
- Malaysia – 83%
- Vietnam – 73%
- Laos – 68%
- Thailand – 43%
- Indonesia – 30%
- Brunei – 18%
- Singapore – 6%
Visual Capitalist’s infographic uses data from the The World Bank’s Doing Business 2020 report to examine the startup cost for a small-to-medium-sized company in the largest business cities across 190 countries.
For those who might be interested in the cost of living and setting up a business in Singapore, you can find the Singapore Economic Development Board (EDB)’s free calculators here.
My LinkedIn post here.
About Zhilin SIM
Having worked and lived in Singapore, the Nordics, China, Spain, UK, I’m now based in Paris.
I’m fluent in English, French and Mandarin, and I’m learning Arabic because it’s a beautiful and fascinating language.
My team creates and supports one-many initiatives connecting Corporate and Startup ecosystems in Europe to business and innovation opportunities in Singapore and Southeast Asia.
I’m passionate about horticulture, watercolour, startups/tech as well as French cuisine, Peranakan kueh techniques and other global cuisines.
Feel free to connect with me if you think my network in Europe and Asia could be of benefit to your business and innovation activities.
