Where to start a new business in Germany
Has Brexit got you down? Are you looking for an exit strategy? Fear not! Here are some of the best places in Germany to set up a new business to compliment your new life abroad.
The capital city of Germany itself, Berlin is the best place to start a new business. With an exceptionally high quality of life, paired with low living costs there are endless networking and investment opportunities.
With a population of 3.5 million it’s not as busy or cluttered as some British cities, for example, London. Couple that with the fact that the diversity statistics show there are 50% more female entrepreneurs and start-ups companies than in any other German city.
Berlin also has a fantastic reputation for innovation and new ideas. With a city that has been almost enitrely rebuilt since the Second World War, most of the architecture is very modern, which lends itself to the more modern culture that Berlin has to offer. However, being the most popular city for new business startups, there may be increased competition in the area which can lead to some startups being drowned out before they can proper.
In second place is the Beer Festival Capital of the World, Munich. Along with several large corporation head quarters being based in Munich there is plenty of venture capital too. Having not been totally flattened during World War 2, Munich boasts greeater culture and historical architecture than Berlin. However, this is reflected with the high cost of living compared to living in Berlin.
The University of Munich describes itself as “committed to interdesciplinary education and the active promotion of promising young scientists”. This has not only encouraged young entrepreneurs to start up their own businesses, but has also helped to develop the creative culture within Munich.
Although third on our list of best places to start a business in Germany, Hamburg actually has the most entrepreneurs per capita (stats from 2016). The local government has been funneling lots of resources towards start-ups, resulting in almost 10,000 start-ups being formed per year.
Hamburg’s specialities include commerce, service, tech and gaming. With the advantage of being a port city, the commerce sector is strongest, with the likes of Google and Airbus having headquarters based in the city.
One interesting fact for those with an interest in the gaming industry, is that Hamburg is Europe’s leader in browser based and free to play game development. However with the distinct niche’ markets in Hamburg, unless you’re specifically into commerce or gaming, it may be particular hard to get your business off the ground and you may be better setting up your business elsewhere.
Did you know Germany also hosts the World’s Largest full time race track at The Nurburgring? So if you’re into your motor vehicles in anyway, the fact that the Nurbrugring is on your door stop, might be the final tipping point to make your mvoe to Germany permanent.
Looking at all the evidence, Germany is a fantastic place to start up a new business or company. With their inclusion in the EU guaranteed for the next 5 years at least, this means the VISA system will still be straight forward. The only other issue that could be a massive failing is in your ability to speak the language. Although German is a relatively easy language to learn compared to other, learning a whole new language isn’t what most people have in mind when they start a new business. However, if you’re a fluent German speaker, or even if you just know the basics, Germany might be the best place to go post-Brexit for your new business.
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