Ready to quit your day job?
If you’re thinking about cleaning up your desk and starting a career as a freelancer, you’re not alone. But before you do, you should consider where you live as a key factor in how easy (or difficult) it will be to succeed.
According to a recent study published by Expert Market — a comparison shopping service for businesses based in London — Hong Kong is the friendliest destination for people who want to work for themselves.
To determine the best (and worst) places to be your own boss, Expert Market evaluated 57 countries according to eight different factors. Those considerations included the cost of living, income taxes, access to credit, average internet speeds, public transportation, free Wi-Fi availability, and the general ease of starting a business.
Oh, and the cost of a cup of coffee (because priorities).
Expert Market found a weighted average for each country using data from all of the aforementioned factors and gave each country a total score.
The skyscraper-filled harbor city of Hong Kong took the No. 1 spot, thanks largely to its low income tax rates and easy access to credit. Freelancers who relocate to Hong Kong will also find that the city has the best ground and port transportation, according to the World Economic Forum.
In second place was the United States — which scored high marks for the availability of funding and ample free Wi-Fi — followed by South Korea in third.
The 10 Best Places to Be Your Own Boss
- Hong Kong
- United States
- South Korea
- United Arab Emirates
- United Kingdom
- New Zealand
- Czech Republic
Freelancers and entrepreneurs may want to reconsider plans to move to South America, however: four of the continent’s countries landed on the list of the worst places in the world to be a freelancer. The South American nations of Uruguay, Argentina, Ecuador, and Peru all performed poorly for transportation infrastructure and internet speeds. They also received low marks from the World Bank, meaning freelancers may encounter a number of obstacles when trying to launch new businesses.
The 10 Worst Places to Be Your Own Boss
- Costa Rica