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Being a freelancer has numerous benefits. One of the greatest is the freedom to work from all over the world. You have to know that being a freelancer and working for yourself is not that easy. It’s financially risky, you work long hours and you have a lot of responsibilities. To make your life easier you need a place to live and work from that have a perfect internet connection, good environment for your digital nomad lifestyle and the cost of living is cheap.
Expert Market has put together a new study that showcases the best countries to base yourself if you want to enjoy your freelance career. To identify their list of the best places to be a freelancer in, Expert Market compared 57 countries across the globe across eight different factors. In their study they compared:
- Cost of living
- Income tax
- Access to credit
- Average internet speed
- Transport networks
- Free Wi-Fi availability
- Cost of a coffee
- Ease of starting a business
Expert Market calculated each country’s weighted average using data from all the factors above to work out an overall score.
The final Top 10 countries are:
1. Hong Kong
3. South Korea
5. United Kingdom
7. New Zealand
10. Czech Republic
To be honest with you we are a little surprised by this rating. Continue to read so you can find out why these countries are the best for being your own boss from.
Working and living from Hong Kong
Hong Kong tops Market Expert’s list of the best places to be your own boss. The city is best for you if you want to earn more money. The Asian country has one of the lowest income tax rates (15%). Business owners in Hong Kong will also find it much easier to get their new venture off the ground – the country has one of the best access to credit scores in the world! Also, The World Economic forum rate the country’s transport network as the best in the world. For today’s digital nomad, a world-class transport system provides excellent peace of mind.
Working and living from UK and US
Freelancers looking to set up shop in the UK will be pleased – the country ranks fifth in the Expert Market list of the best places to be your own boss. The UK is in the top 10 for transport infrastructure and the top 20 for access to credit and internet connection speed.
However, it is the US that truly lives up to its name as the land of opportunity – it fares better than the UK in all. Placed second overall, the US provides would-be business owners with excellent availability of funding as well as a very high number of free Wi-Fi spots.
Working and living in Eastern Europe
Our big surprise was that Eastern European countries appear to dominate Expert Market’s top 10. Why is that? These countries have an ideal combination of low costs of living and strong business opportunities. Estonia, Bulgaria and Czech Republic are eighth, ninth and tenth respectively in the list. Caffeine addicts should consider Bulgaria a hot favourite when it comes to setting up a business – at 94p, the country has the cheapest cappuccino in the world! Let’s not forget that internet connection is almost perfect, the food is great and the cost of living is one of the best in Europe. Needless to mention all the new coworking spaces that are opening in town.
Working remotely is the new trend and it is going to change the shape of the future workforce. Being a freelancer is a choice done by more and more experts worldwide who are willing to also change their life and way of work.