Introduction

For starting every business requires research and a good market. Sometimes for a small business startup needs a proper survey about how the economic forecast is of the country for the upcoming year. Labor market regulation is also considered in compiling the best country to open a small business. The highest ranking (lowest numeric value) means that the above indicators are conducive to business operations.

According to some articles the growth of world economy is slowing down. As a result of this international market is more heated and new starters should consider highly on the combination of risks and opportunities. These decisions should be based on the SWOT analysis that consist of the strengths, weaknesses, opportunities and threats in entering a new market.

SWOT Analysis

SWOT analysis has become mandatory for every business at the beginning or in the planning process. It helps in understanding the strengths, weaknesses, opportunities and threats to the business in the particular business. It can be held responsible for the failure or success of the business.

Data Analysis

Some countries are contracting in the phase of world economic cycle, but there are countries that are having significant growth rate.  For analysis 10 countries were selected according to the (Bidoia, 2019). They were analyzed whether the following conditions were met.

The different countries are positioned using their expected GDP growth rate (x-axis) and euro import growth rate (y-axis). The size of each country circle is proportional to the level of quality imports in 2018.

GDP growth identifies countries that have particularly favorable conditions in terms of demand growth. According to these measures Ethiopia, India, and the Philippines are characterized with an average growth rate exceeding 7% in 2019-20.

For a business to start in a country their growth of imports in the target market. The currency of export indicates as a growth trend for sales in the market. The chart shows that Ethiopia, Egypt Iraq, Vietnam, India and the Philippines, are high-opportunity markets with an annual average growth rate of above 6% for imports in euro.

When considered the operating costs, high labor cost, significant imports constitutes China emerges as unique. Because not only has it a high growth rate of both GDP and euro imports, but with 681 billion euros of quality imports in 2018, it was the first-placed importer of quality goods in the world. Other Asian countries selected has quality imports of less than €50 billion. Other non-Asian high growth countries do not reach €10 billion.

Conclusion

The above discussion presents the opportunities in the high growth economies for businesses. Even a small business before stating should consider the international factors. China and India are considered the more industrialized economies of ASEAN (Association of South-East Asian Nation). Bu other countries that have high growth rate for the future are to be considered in analyzing.

However the regional corporation should be deepened and it need to be limited to bringing down barriers to business, trade, investment and competition but may also provide a way to enhance policy coordination that is supportive of stability and predictability.