Working Abroad Better For Entrepreneurs

A recent study has shown that the majority of Expat entrepreneurs believe they have achieved more by working abroad

London, UK (Pryce Warner International) September 29th, 2011 – 78% of the Expat entrepreneurs’ queried responded that they felt they had achieved more by working internationally.

The main benefit reported was faster growth, and 22% of respondents stated that they thought their prospects for the next three years was “excellent” and over 55% thought they were “good”.

Other benefits to working internationally were cited as being cheaper resources and tax advantages though many suggested that international standards and regulations deter greater progress.

Singapore, the US and Hong Kong were voted as being the best countries for stimulating enterprise while Spain, the United Arab Emirates (UAE) and China were considered the least effective. Despite this Canada, New Zealand and Australia were deemed to have the best business prospects while Portugal and France were thought to have the worst.

One of the most surprising elements of the study is that so many entrepreneurs believe that their future prospects are so good. This is perhaps because the global recession has not hit some parts of the world, notably east-Asia, as hard as others.

The criteria used in the study covered a broad range of factors. Everything from availability of consumer goods to food to law enforcement to quality education were considered.

David Harra, a Senior Market & Investment Analyst with Pryce Warner International, a Financial Services Provider for Expats, commented: “The results of the study are a strange mix of intense surprise and the easily understandable. That the US is considered better for business that China at the moment is very surprising considering the state of the US economy and the level of political indecision. However, that people feel Spain and Portugal are bad for business was highly predictable. Though it can be very good for business’ to set themselves up internationally, it is a big challenge. Anyone that does so needs to navigate the treacherous waters of international tax law and employment regulations as well as increased competition. Anyone considering setting up a business overseas should always seek out the advice of independent financial advisors before doing so, that way they can be confident that all the more technical financial elements are handled while they are free to concentrate on running their business.”

Pryce Warner International Group provide International Asset & Investment Management, Independent Financial Advice & QROPS Overseas Pensions.

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By: Aneil Fatania
Financial Editor
Pryce Warner International Group
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