Denmark is more than a tourist hub in the Scandinavian region. It offers entrepreneurs and global businesses an opportunity to invest and enjoy profits galore. The infrastructure and ease of doing business are the major attractions for businesses looking to set up an office or branch here. Denmark has been steadily attracting investors from across the world.
So, if you are want to know why you should invest in Denmark, here are some compelling reasons to convince you.
Top 10 reasons
Safe Investment Environment
Denmark is virtually corruption-free so you do not have to grease palms or bribe anyone to ensure your documentation is approved if you are looking to set up an office or business in the country. The country has had the distinction of being at the top of the International Transparency Index for several years. These factors make it an attractive destination for entrepreneurs and businesses.
Easy and Convenient Access to the EU
Denmark is part of the European Union and if you open a business here, you will be able to access the entire EU. That means you can cater to consumers, who are looking for quality and are not that price-conscious. You can take advantage of the next-day delivery opportunities that the country offers and ensure happy and satisfied consumers. This wide access means that you can grow and expand your business while being based in Denmark.
Flexible Hiring Practices
Denmark offers, what is known as, Flexicurity labor model. This model provides new and existing businesses a lot of flexibility to hire talent. Also, there are no restrictions that apply to overtime. As a result, businesses can operate round the clock and 365 days a year. This could prove to be crucial especially now when businesses across the world have had to shut doors due to the ongoing coronavirus pandemic.
Highly Qualified and Talented Workforce
While it is possible to hire foreign workers if you cannot find talent in Denmark, you will be surprised to learn that the country has a rich and varied talent pool. Nearly 96% of the youth in Denmark have completed their secondary education and around 47% have higher education degrees. So, you will be able to find qualified and motivated employees who are extremely productive. A majority of Danes are proficient in English and nearly half of the population speaks German. So, language is never a barrier.
Denmark has airports and ports. The Copenhagen Airport is considered to be the most efficient airport in Europe and handles 57 airlines that cater to the Nordic, European, and Baltic regions. The airport is connected to 132 destinations and has the ability to handle about 380,000 tons of airfreight annually. So, if your business is looking to export to other countries in Europe, the Baltic region, or other parts of the world, you will find that it is easy, quick, and convenient to send goods by air and enjoy the shortest possible transit times.
Easy and Quick Business Setup
When you invest in Denmark, you will realize that it is one of the easiest countries to set up your business. The ease of doing business has been much talked about as you can set up your business in a single day and you will need merely 5 weeks to get your residence and work permits. Many overseas companies opt for the plug-n-play registration when they want to set up a business here. Most of the processes are online so there is no need to physically visit government offices.
Leading Nation in CleanTech and ICT
Denmark is proud of being a green country and lays a lot of emphasis on clean technology. That is the reason nearly 20% of the electricity in the country is green and generated by harnessing the power of the wind. It may come as a surprise to learn that Danish companies control nearly one-third of the wind energy market in the world. The country also has the distinction of being the first in the world to use second-generation biofuels commercially. Denmark is a leader in ICT and most of its major cities are smart cities that boast a superior ICT infrastructure. Its workforce is well-versed in technology and its usage.
Cost-efficient for Businesses
While the standard of living in Denmark is high, companies do not have to bear the cost of social contributions for their employees. Also, highly qualified professionals, such as scientists, engineers, and management-level employees, can be hired on competitive salaries. You will also find that it has one of the lowest office rentals in the EU along with attractive corporate taxes.
A Readymade and High-quality Test Market
Denmark is renowned for being one of the best test markets in the world. With extremely high levels of ICT penetration, you will find that the country offers businesses world-class IT infrastructure. Every corner of the country has mobile, broadband, and internet connectivity, and a majority of the homes have PCs, laptops, tablets, smartphones, and other handheld devices. So, it is the perfect destination for businesses looking for a test market.
High Quality of Life
A lot of research has been done on happiness and a majority of the studies has found that Danes are the happiest people in the world. Copenhagen is the 11-most attractive city in Europe to live in, and the superior infrastructure, healthcare, education, and civic amenities mean that the country offers residents and expats a high quality of life. When you get your work and residence permits, you will have access to the entire gamut of welfare services, including free healthcare and education.
That makes it an attractive place to live and work in. The country also is a cultural hub and offers many different avenues for entertainment and leisure.
The Bottom Line
There are so many unique reasons to invest in Denmark. If you are not interested in clean technology and ICT, you needn’t worry. The country offers many more industries that you can invest in. Some of the most popular industries, besides cleantech and technology, are life science which focuses on research and development, food industry, maritime industry, and design and innovation.