Doing business in the Scandinavia? Here are 10 good reasons why you should consider expanding your business in Denmark, Norway, Sweden and Finland
Despite cultural, economic and business differences, the Scandinavian countries have a lot in common.
The choice of where to locate a business in this part of the world will obviously depend on the specific nature of the business in question.
Start a dialogue about the advantages for your company of a specific country. In this article we will look at 10 good reasons for foreign companies to set up in Scandinavia (Denmark, Norway, Sweden and Finland).
1. Scandinavia gets top international rankings
The Scandinavian countries rank very high in international benchmarks in the top rankings of safest and best places to live, least corrupt countries and one of the best healthcare systems in the world.
2. High reliability
Everything works. If something doesn’t work, it will usually be fixed as soon as possible. You save a lot of time and worry when you can rely on infrastructure, logistics, deadlines and more.
3. Everyone speaks English
Most people in the Scandinavia speak fluent English and are more than happy to practice their English with you. However, a basic understanding of the local language will make everyday life easier for you.
4. Highly skilled workforce
Thanks to a good public school system and a high overall level of education, it will be relatively easy to recruit locals in most industries.
5. Moderate corporate taxes in the Scandinavian countries
The Scandinavian countries have traditionally been perceived as high-tax jurisdictions. However, corporate tax rates are very moderate by international standards.
6. Predictable business environment
The Scandinavian countries have a very strong financial sector and a stable, ethical and predictable business environment. This provides a solid basis for long-term business success. Good logistics, thanks to modern airports, efficient ports and railways.
7. Good start-up environments and cutting-edge new technology
Scandinavian governments and local communities support research and development, the creation of start-up hubs and events. The atmosphere for start-ups has proven to be very inspiring.
8. Relatively easy to find local partners
It is easy to find local partners with whom you can collaborate on joint projects. This will help build your credibility locally.
9. Over 25 million consumers
You are entering a reliable market with strong purchasing power due to the relatively high GDP per capita.
10. Scandinavia is a good place to test new ideas and products
Scandinavian consumers and businesses are among the first to adapt to technology, new products and concepts. It can be a smart move to test your new products and technologies in Scandinavia first, before going global.
Get a solid foothold in the Scandinavian market – read more>>