Business is flourishing in Denmark amid the global financial crisis. No wonder why the country has topped an international survey for two straight years. If you have noticed, there’s really no stopping this country from moving forward.
Forbes Magazine has named Denmark again as its number one country for business. For its fourth year of coming out with the yearly Best Countries for Business rankings, Denmark has topped the report twice already. Following Denmark in the top 10 list are the United States, Canada, Singapore, New Zealand, the United Kingdom, Sweden, Australia, Hong Kong and Norway.
The Forbes’ survey takes into account the business climate of more than 120 countries. Denmark showed a strong economic condition among the other nations boasting of low unemployment and inflation rates. Additionally, what makes the country stand out is its focus on entrepreneurship and the imposition of lower taxes. Another advantage of Denmark is its achievements in innovation and technological advancement.
The Best Countries for Business rankings of Forbes Magazine also considers a country’s democracy as well as the freedom being enjoyed by its people. Factors used in measuring democracy include security of investors, free and fair elections, corruption levels, performance of the stock market, intellectual property rights, promotion of free trade as well as the rates of taxation and inflation implemented on investments and income.
The findings of The Economist, another business magazine, confirm Denmark’s top ranking. The Economist names Denmark as one of the top three model countries for entrepreneurship. An article in the magazine titled “Lands of Opportunity” said the presence of major multinational firms and family-operated companies contribute greatly to the country’s economic growth. It cited that 20 percent of the biotech firms in Europe as well as fashion and design companies are situated in Denmark. Start-up companies are also considered a supplemental economic force with favorable growth potential.