Existing business owners and potential startups will find there are a variety of reasons to start their new enterprise in the Balkans and lots of opportunities for growth and profits.
About the Balkans
The Balkan States follow the line of the Balkan mountain range from Bulgaria through to Serbia. Countries in the region include Serbia, Montenegro, Macedonia, Croatia, Bosnia Herzegovina, Albania and Kosovo. The cost of living is extremely low in all these nations and corporation tax rates for business are very reasonable. Since the breakdown of the former USSR, these countries have come a long way towards economic stability and improved business infrastructure, making them ideal for startups looking to develop profitable businesses.
Reasons to start up a business in the Balkans
On the whole, the entire Balkan region is in good economic health, and offers fantastic opportunities for new business startups.
Serbia is particularly ideal for startups as it is in a good geographic location and corporation tax rates currently stand at just 15%. What's more, there is a well educated, highly skilled labour force in Serbia and businesses will discover wage levels are reasonable. Serbia offers business startups a wide trading platform as there are Free Trade Agreements in place with the EU, EFTA, CEFTA countries and with Turkey and Ukraine.
The European Bank for Reconstruction and Development has been partnering with businesses in Bosnia and Herzegovina since 1997, making it an ideal location for startups and business expansion in any sector. The bank offers expert advisers to help grow businesses and works with companies in any area of Bosnia and Herzegovina.
The Croatian economy is thriving in a number of ways and quite heavily reliant on the tourist industry. Croatia anticipates continued growth in GDP, with the economy forecast to grow by almost 3% in 2018 and 2019.
Alma Career offers HR and recruitment services throughout the Balkans and we're happy to partner with any business setting up in the region. Get in touch for more details.
Companies looking to start operations in Macedonia will also find it offers good infrastructure and positive business-oriented support from the government, alongside a skilled, younger workforce. More than 40% of the Macedonian population is aged under 30.
Macedonia aspires to join the EU by the year 2020 and offers startups in energy, tourism and agriculture a wide range of opportunities.
Kosovo is another potential EU member state and offers a young population with a real hunger for good jobs. It's easy to start a business in Kosovo, particularly in the IT or innovations arena. With average monthly salaries coming in just over 400 euros, it's not difficult to understand why Kosovo is proving popular with entrepreneurs of all kinds.