According to the Ministry of Foreign Affairs, “Denmark is among the world’s best locations for doing business. Forbes has ranked Denmark no. 1 for the third year straight, and the World Bank’s “Ease of doing Business Report” ranks Denmark second in Europe and sixth in the world”1. It is also considered to have the best business environment in Europe2.
Denmark ranks in the top three in Europe in three categories of the institutions namely business support, higher education and training and labour market efficiency3. When it comes to ICT usage, Denmark ranks third best in Europe for both individual readiness and government usage4.
The World Bank has also ranked Denmark as the best country to employ workers resulting from the combination of a well-educated population with excellent language skills and flexible hiring and firing rules for which it is well known within Europe5. When it comes to flexibility of labour regulations, Denmark is ranked as best of the world6 a key feature being the very low social security contribution of the employer .
Denmark’s excellent language skills are confirmed by the EF English Proficiency Index which rates it as third best in the world in English proficiency7.
These advantages make Denmark a strong contender for companies considering employing a lot of staff.
The most problematic factors for doing business in Denmark3 are considered to be:
• Tax rates
• Tax regulations
• Access to finance
1 Website - Ministry of Foreign Affairs of Denmark
2 Business Environment Ranking (Economist Intelligence Unit), 2008-2012
3 Global Competitiveness Report 2011-2012 (World Economic Forum)
4 Global Information Technology report 2010-2011: (World Economic Forum)
5 Doing Business 2011 – World Bank
6 IMD, 2010
7 Education First, 2011