10 Worst Places In The World To Start A Startup
8. Brazil
FDI 2010 – $48.4 billion
GDP 2010 - $2.1 trillion
Brazil is known to be the world’s eighth largest economy; it had attracted foreign direct investment but again miserably failed as it had huge tax levied upon the foreign companies. The research reports that a firm spends nearly 2600 hours equivalent to three and half months filing tax forms in Brazil. It also takes 470 days to complete 17 procedures in obtaining a permit to construct. The corrupt politicians cause a major setback for the economy’s growth.
