Flexible working hours, a relaxed work culture that encourages personal growth and does away with the rampant yes man culture, startups can be very appealing to the millennial.
However, from securing funding to having a tight business model that fulfils a growing demand in the market, launching your own startup is no small feat. Turns out that this uphill task can be made easier depending on where you live.
How does where we live have anything to do with our business ambitions, you ask?
Well, a survey by card machine provider Dojo has revealed that some global cities are more ambitious than others when it comes to starting small businesses.
The survey created a worldwide index of the most business ambitious cities, using 5 fundamental factors which contribute to entrepreneurial ambition:
📈 - Number of new businesses registered
⚖️ - Cost of a business start-up as a % of GNI per capita
💰 - Gross Domestic Product (GDP) per capita
🎓 - Percent of the population with access to education
🖥 - Google search volumes for starting a new business queries
And, the Indian capital, New Delhi has managed to snag the 12th spot in this influential list of the best cities to launch a startup.
New Delhi ranks 12th as the most ambitious city in the world, with a population of over 31 million and an ambition index score of 331 out of 500. The survey also revealed that the city has some pretty driven budding entrepreneur as can be seen with over 4,320 Google searches for "how to start a new business”, and a 13 per cent increase in searches for “how to fund a new business” compared to the previous year.
Over 123,942 new businesses registered in the city, with many taking advantage of the ability to thrive even with low investment.
However, the spot for the most ambitious city in the world was snagged by London, followed by Sydney and Cape Town. Take a look at the list of the cities in the world most conducive for a startup:
This list was compiled based on Google Search volumes for related searched terms over the past 12 months, new businesses registered, cost to start up a new business, and the percentage of the population with access to education.