A recent survey questioning expats who have relocated abroad to start a new business has produced very positive results

70% of entrepreneurs who relocated abroad to start their business believe they were right to leave their own country, according to a new survey.

The NatWest International Personal Banking Quality of Life Index found that 78% of expats felt that faster growth was one of the major advantages of running a business abroad.

22% of those surveyed consider their business prospects for the next 3 years to be either excellent or very good.

It all points to the idea that relocating can be beneficial for many businesses, as they seek to take advantage of untapped potential and different markets.

USA, Honk Kong and Singapore were rated as the top 3 countries for nurturing enterprise.

There was mixed results in terms of general business prospects though as Canada, Australia and New Zealand were deemed the countries with the most positive business prospects. Portugal, Spain and France performed poorly in this area.

Relocating abroad with an existing company can be a difficult enough experience. However, starting a brand new business in addition to dealing with a relocation could be an even bigger challenge.

This is why it is important to thoroughly research the area which you are relocating to before arriving.

Everything from the popularity/requirements of the service you offer, to intricate cultural differences in how to do business should be addressed.

Dave Isley, Head of NatWest International Personal Banking, commented on the findings; “Setting up your own business can be difficult and you would imagine doing so abroad would be a task for the brave.

“A new breed of entrepreneurs is emerging and it is encouraging to see (them) thriving in foreign climes.”

Corporate relocation services can also help you out with numerous issues relating to tax, visa, and storage/property advice.