Estonia ranks 5th best country for startups in Europe

Sander Nõmmik
Author Sander Nõmmik

According to NimbleFins latest economic data study, Estonia is 5th best country for startups in Europe. The country shines in term of both Labour Force Quality and Cost of Doing Business, ranking 2nd in these categories out of 50 European nations.

Among the best European countries for startups in addition to Estonia are Germany, the UK, Ireland and Switzerland, the study says. These countries have highly educated populations, strong economies, healthy business environments and relatively low costs for conducting business, study says.

Estonia is 3rd in Europe regarding the number of startups per capita, according to Funderbeam Startup Investment Report. In Estonia, starting a new company can be done within 3 hours while filing personal taxes online takes only 3 minutes. Also, there is no corporate income tax on retained and reinvested profits. To dive into the startup ecosystem of Estonia, please click here.

The study by NimbleFins covers the general economic health, cost of doing business, business environment and labor force quality of 50 European nations. To arrive at these results, NimbleFins analysed current data from several reputable sources, such as the World Bank, OECD, UNESCO and the World Economic Forum.

To read the full report, please click here.