Denmark is considered to beone of the best countries in Europe for entrepreneurs. A new study initiated by leading researchers in entrepreneurship from the George Mason University in the U.S. has confirmed this that the country is indeed an ideal nation to start a business in.
One of the reasons is that it’s free to start a business in Denmark. You only need to show proof that you have capital and money in the bank and registration can take only six days to complete. Some of the other important reasons are that the country promotes strong legal rights for borrowers and lenders, has laws that make it easy for employers to hire and terminate workers and has some of the lowest costs for importing and exporting products.
In the new comprehensive research that covered 71 countries, Denmark was on top in business performance edging out the U.S. which is considered to be the land of opportunity. The study looked into statistics, framework conditions and the experiences of business people. Additionally, the researchers revealed that the creation of new jobs in Denmark is largely attributed to the growth of small companies and not necessarily the big ones.
The Minister of Economic and Business Affairs Brian Mikkelsen takes pride in this latest achievement of Denmark that helps people start their own business. However, he pointed out that they are still in the process of improving access to capital particularly for small businesses.
Currently, Denmark has nearly 25 million enterprises made up of mostly small businesses. Majority of these businesses have only a few employees numbering less than 10. The country is also home to many international and multinational companies.
In 2008 and 2009, Denmark ranked 5th in the World Bank’s yearly “Doing Business” report. The survey covered 181 countries and studied the regulatory climate of countries for entrepreneurs.