The Netherlands offers an ideal climate for startups

Personal finance website NimbleFins has ranked the Netherlands as the fourth-best country in Europe for running a startup. Germany, the UK and Switzerland took the top three positions, and in total, 31 countries were included in the study.

Various factors propelled the Netherlands to the top of the list, including the country’s strong economic health and favourable business climate. Last year, the country took 10th place in the study, marking a significant rise.

One of Europe’s healthiest economies

According to NimbleFins, the best performing countries in the study have well-educated residents and a relatively low cost of doing business. Data from OECD, UNESCO, World Bank and the World Economic Forum was analysed for the ranking, in addition to information from tax consultancies.

The Netherlands was found to have Europe’s second healthiest economy after Ireland, with a GDP of more than $909 billion. It was also determined to have the fifth best labour force quality, thanks in part to excellent vocational and staff training.

Amsterdam bikes in bike rack CC BY-ND 2.0 Moyan Brenn via Flickr

Amsterdam is a hub for young tech companies

Amsterdam is home to a vibrant startup community, which benefits from many factors highlighted in the study, including access to a strong talent pool, which is supported by the many local tech academies.

The city is also home to different hubs that support the startup ecosystem, including coworking spaces, accelerators and incubators. Despite the coronavirus (COVID-19) outbreak, startups in Amsterdam have also continued to procure funding. For example, MedTech company Castor recently received €10.13 million, which it will use to help fight the outbreak.

Read more startup news from around Amsterdam.