By Andrei Skvarsky.
The minimum cost of setting up a business in Britain is less than $15.5, making the country the best place in Europe to choose an entrepreneurial career, according to money.co.uk, specialists in comparing financial products and services.
The exact minimum sum needed to establish a firm in Britain is 11.68 pounds ($15.45), which on average takes one hour and 21 minutes to earn, money.co.uk said in a statement citing findings of a study by the British online company.
In Italy, though, one needs 81 days’ work to raise the minimum it costs to start a business, the amount money.co.uk puts at 2,034 euros ($2,225.80).
Money.co.uk compiled a ranking of 35 European countries based on amounts of time needed to earn minimum costs of setting up a small or midsized business. Britain tops the list and Italy holds the bottom position.
Earning enough to set up a firm takes 6 hours in Denmark, 1 day in Ireland, 3 days in France, 7 days in Germany, 12 days in Spain, 8 days in Switzerland, and 8 days in Turkey, according to the study.
As Eastern Europe goes, one needs to work for at least 32.5 days in Croatia, 28 days in Hungary, 14.5 days in Poland and 3 days in the Czech Republic to be able to start a business career.
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