Budapest is the most affordable city to start a business – study

When launching a new business, numerous factors have to be taken into consideration, including the location, the potential customers, and the expenses. The costs of setting up a business show great differences around the world. According to Utility Bidder, the Hungarian capital is the cheapest option for starting a business.

Utility Bidder is one of the UK’s leading energy brokers, offering energy procurement services to businesses. In its most recent study, the company examined 70 OECD (Organisation for Economic Co-operation and Development) countries based on a variety of criteria, such as average salary, annual office rent (per sq ft), cost of electricity per kWh, annual internet costs, and corporate tax rate.

With an overall score of 90.72, Budapest was selected as the most affordable city regarding business costs around the world.

Prague ranked 2nd with an overall score of 83.91, followed by Warsaw (82.20), Bratislava (78.13), and Helsinki (70.89).

The city with the lowest average salary was Mexico City, where the average person is paid €14,300, closely followed by Budapest, where the average salary is €17,316. The highest average salaries are in Switzerland and in the United States.