New Zealand is known for its stunning landscapes and friendly communities. As per the report of World Bank 2020, New Zealand is known to be the easiest country to actually start a business and be an entrepreneur. Many investors are drawn to its advanced economy, which has high income and a good GDP. What makes it so famous? It is the steady GDP growth, good regulations, easy start-up processes, and a well-educated workforce.
Additionally, low crime rates and little corruption add to its attractiveness. The HSBC Expat Explorer Survey shows that New Zealand ranks 6th in the world for work-life balance and 1st in the Asia Pacific region.
New Zealand also managed the COVID-19 pandemic well, which has interested many new entrepreneurs wanting to start or buy a business.
But where in this beautiful country is the best spot for entrepreneurs to start and grow their businesses?
According to the new research from SumUp, Auckland is named as the best place in New Zealand to be an entrepreneur. [Source]
Research that evaluates the different urban areas based on the combination of business prospects and living standards places Auckland ranked within the top 100 worldwide for software and data, with its cloud sector reaching the top 60 globally. This shows the new opportunity in IT and software. Lets see some facts:
It is the economy of Auckland that makes it very attractive for people to initiate a business. If the domestic product economic growth is compared over 10 years to 2023, it is 4.2%. You know what? It is higher than New Zealand. The areas like finance, technical, insurance, etc account for 8% of national GDP. Such amazing economic growth largely favors the business to get to the top.
It is a center for finance that is famous for both business and travel. Auckland is where the majority of the world's large corporations have their headquarters located.
The city's central business district is where you can find the biggest commercial zone, dominating in manufacturing, retail, scientific and technical services, healthcare, and education. It is a busy hub for trade and commerce throughout the entire Asia-Pacific area. The city is famous as a desirable location for adventure tourism. Due to its significant export levels, it has transformed into a key economic center.
Auckland businesses benefit from trade deals with countries like Hong Kong, China, Malaysia, Thailand, Korea, and Singapore. New agreements with the UK and the European Union make things easier, reduce costs, and provide more stability and security. Further, a digital economy partnership with New Zealand, Chile, and Singapore offers even more advantages.
Auckland’s location and time zones make it ideal for competing in the Asia-Pacific markets. With a large Asian population in the city, there is also plenty of bilingual talent available to manage international relationships.
In short, Auckland is the best place for entrepreneurs in New Zealand because of its strong economy, friendly business environment, and lively lifestyle. Its convenient location, diverse talent, and helpful regulations create many opportunities for both new and experienced business owners to succeed in the Asia-Pacific area.