The Types of Businesses Every Country Wants to Start

Small businesses are the driving force of economic growth in both developing and developed countries around the world. According to the World Trade Organization, small- and medium-sized enterprises account for 45% of GDP in developing and developed countries and 66% of total jobs. The ability to start and grow new businesses is crucial to the health of any economy, and the types of businesses that entrepreneurs start within a given country can significantly shape the path of its economic growth. But which types of businesses are the best to start where you live?

Global Entrepreneurial Trends and Key Findings

Using data on internet search frequency, ZenBusiness found that the industries that most attract entrepreneurs vary from country to country, and depend on a variety of factors such as infrastructure, business climate, and culture. The Key Findings of this research include:

• Clothing-related businesses are the most-searched-for across 22 countries, putting it just ahead of real estate in 19 countries.
• 16% of countries in Europe look to capitalize on the hot housing market, as the top business to start is real estate.
• In 47% of countries in North America, the most popular query related to starting a business is about the retail and e-commerce space – the largest share of any continent.
• The Middle East and Central Asia have the most startup diversity of any region.

European Entrepreneurs: Real Estate and Tourism

Keyword data for searches related to starting a business in Europe reflect many of the trends shaping the continent’s economy in the 21st century. Home prices in the EU have outpaced GDP growth over the last several years, prompting many savvy Europeans to look into capitalizing on the hot housing market. In 16% of the countries in Europe with available data, the top business to start is real estate – the largest share of any continent.

Similarly, many Eastern Europeans are looking to capitalize on the region’s fast-growing tourism sector. In Belarus, Macedonia, Armenia, Georgia, and Albania, the most-searched-for businesses to start include hostels, hotels, tour operators, tourism, and travel agencies – all in the leisure and tourism sector.

Consumer Goods and E-commerce in North America

The United States is the largest retail market in the world, and many entrepreneurs in North American countries are looking to start businesses selling consumer goods. In 47% of countries in North America, the most popular query related to starting a business is about the retail and e-commerce space – the largest share of any continent. Other keyword searches throughout the continent highlight unique pockets of thriving local industry.

In Haiti, for example, the keyword “recycling” is searched in conjunction with “start a business” more than any other business type. In Haiti, recycling entrepreneurs earn an average of $3,000 a year by collecting plastic and trading it into the Plastic Bank, an international corporation that offers money and other benefits in exchange for waste.

Summary of Top Business Interests

• Global Leader: Clothing-related businesses (Top in 22 countries).
• Real Estate: Most popular in 19 countries, including 16% of Europe.
• North America: Retail and e-commerce (Top query in 47% of countries).
• Eastern Europe: Leisure and tourism (Hotels, tour operators, and travel agencies).
• Specialized Markets: Recycling initiatives in Haiti.