In October, the World Bank ranked Denmark as the easiest place in Europe to do business – and now Forbes Magazine ranks Denmark no. 1 in their newly published global league table “Best Countries for Business”.
Improved potential for foreign investments
“I am extremely happy that Forbes has named Denmark the best country for business. We simply offer the best business conditions in the world – that’s something to be proud of. This is of course great news for the Danish business community and it will definitely improve the potential for foreign investments in Denmark”, says Minister for Trade and Development Cooperation, Mogens Jensen.
In its report, Forbes Magazine concludes that Denmark’s business climate is extremely positive. Denmark scores highly across the board, finishing in the top 25 in each of the 11 categories included in the analysis with top five showings for personal freedom, technology and low corruption.
Flexible labor market key to success
One of the keys to Denmark’s pro-business climate is the flexible labor market known as “flexicurity”, where companies can easily hire and fire workers with out-of-work adults eligible for significant unemployment benefits. Unemployed workers are also eligible for training programs. It creates one of the most productive workforces in Europe.
Furthermore, Forbes concludes that:
“Denmark is one of the most entrepreneurial countries in the world. The government streamlines the startup process with only four procedures needed to start a new business and at minimal costs. The regulatory climate is also one of the most efficient.”
Denmark also ranked no. 1 for three straight years between 2008 and 2010.
About Forbes’ Best Countries for Business
Best Countries for Business have been determined by grading 146 nations on 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance. Each category was equally weighted. The data came from published reports from the following organizations: Freedom House, Heritage Foundation, Property Rights Alliance, Transparency International, World Bank and World Economic Forum.
Read more about Forbes' Best Countries for Business
See the complete ranking of countries