"They have further helped start-ups and businesses to grow."
A study conducted by online digital marketing suite SEMrush found on Sunday, September 30 2018, that India is the most preferred country for starting a business.
This comes as a surprise because government programmes like “Start-Up India” failed to support startup ventures.
However, SEMrush’s latest study revealed the opposite to the popular belief that India is not the best place for a business venture.
The study takes into account the number of people searching for the best place to set up shop.
India leads the Top 10 globally searched countries online for ‘starting business in’.
It also establishes the fact that it is not just a preferred choice for Indians to do business in their country.
It is also becoming a priority for Small and Medium Enterprises (SMEs) all over the world.
SEMrush’s research on the term “How to start a business in…”, the top 10 most globally searched countries are:
- The Philippines
- New Zealand
- South Africa
- United Arab Emirates
Rohan Ayyar, Regional Marketing Manager India, SEMrush, states that the number of SMEs in India is 4.25 crore, registered and unregistered, with over 10% average growth rate.
“The GDP contribution by SMEs is estimated to be around 6.11 per cent from the manufacturing and 24.63 per cent from the service sectors.”
The global search pattern was analysed by SEMrush for the last 12 months.
They looked at specific key search terms, these include ‘how to start a company in’, ‘opening business in, ‘found a business in’ and other related search queries.
The completed study showed India is followed by Singapore, the Philippines and Australia as top globally searched nations.
Singapore gets the second spot despite the country being known for its wide entrepreneurial opportunities.
The National University of Singapore, the oldest and largest university in the country, ranks in the Top 30 for its entrepreneurial centre and international outlook.
According to Ayyar, Singapore is constantly one of the strongest economies in the world.
He said: “The unemployment rate of 2.1% and per capita GDP of nearly £40,700 (Rs 3.8 Lakhs) tends to make Singapore’s economy one of the strongest.”
“Almost 99% of it is powered by SMEs.”
“It is no surprise that Singapore tops the list of countries where people are eager to find a firm.”
Ayyar also talked about India topping the list and how it can help the overall economy grow.
He added: “The search volumes for India were much higher than countries such as Australia, Canada and the UAE.”
“The developments in the Public Private Partnership (PPP) model and progressive policies and plans have further helped start-ups and businesses to grow.”
“This gives a great boost to SMEs.”
~ Via IndianWeb2.