South Africa has secured a place among the world’s most searched-for destinations for starting a business, ranking eighth globally in new research examining where prospective entrepreneurs are looking to establish companies.
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South Africa ranks among top destinations for starting a business
The analysis by MoneySuperMarket examined Google search volumes across 249 countries, cities and US states, finding 7 780 annual searches globally for the phrase ‘starting a business in South Africa’.
The result places South Africa ahead of established business destinations including Switzerland, Spain, Saudi Arabia, France and India in the ranking of locations attracting the greatest search interest.
The UK took the top position with 18 510 annual searches for ‘starting a business in the UK’, followed by Australia with 13 080 and Canada with 11 890.
The United Arab Emirates recorded 11 340 searches, while New Zealand, Singapore and Ireland occupied the next three positions before South Africa entered the top 10.
South Africa’s 7 780 searches put it eighth on the list, followed by Switzerland with 7 010 and Spain with 6 550.
While search activity does not by itself confirm that someone intends to launch a company, the figures provide an indication of the destinations attracting attention from people researching business opportunities.
South Africans search for opportunities abroad
The research reveals another side to the country’s entrepreneurial picture: South Africans are themselves actively searching for opportunities beyond the country’s borders.
There were 10 090 annual searches from South Africa for starting a business abroad, placing the country ninth among those with the highest volume of such searches.
The United States was by far the largest source of searches for overseas business opportunities, recording 165 760 searches. The UAE followed with 26 310, while the UK registered 22 630.
India, Canada, Australia, Thailand and New Zealand completed the top eight ahead of South Africa and Singapore.
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Interest in entrepreneur visas surges
The research comes against a backdrop of growing interest in establishing businesses across borders. Searches for ‘entrepreneur visa’ have increased by 450% over the past year, according to MoneySuperMarket’s analysis.
The locations attracting the most attention also reflect a wide geographic spread, as eight Asian destinations and six European locations feature in the overall top 20.
Australia ranks as the second most searched destination globally, while Canada takes third place. The UAE sits fourth, followed by New Zealand and Singapore.
For Australia, the UK, India, the US, UAE and Singapore were among the countries generating the greatest search interest in setting up businesses there.
Canada’s strongest search interest came from the US, India, the UK, the UAE and France.
What entrepreneurs should consider before moving abroad
For entrepreneurs considering an overseas move, choosing a destination involves more than identifying a promising market.
Alicia Hempsted, Business Insurance expert at MoneySuperMarket, said businesses should also consider how they will manage risks associated with operating in an unfamiliar regulatory and commercial environment.
“As businesses look to move abroad or set up in another location, it’s important to make sure they are protected. Business insurance can offer reassurance that businesses are prepared for the unexpected, especially as they begin to navigate a new location, rules and regulations. Business owners should explore their options before settling on a location to ensure their insurance provider can offer the correct protection that they need.”
Originally published by Cape{town}etc.
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