Companies looking for a smooth way to set up and run their business in Europe should consider Denmark as their destination: According to the World Bank’s Doing Business 2015 report, Denmark is the easiest country in Europe to do business – and has also moved from 5th to 4th in the world, behind only Singapore, New Zealand and Hong Kong.
“I am very happy that the World Bank considers Denmark the easiest place in Europe to do business. The ranking confirms that Denmark offers one of the world’s most dynamic and efficient business environments”, says Minister for Trade and Development Cooperation, Mogens Jensen.
Danish regulation supports businesses
The report presents quantitative indicators on 11 areas of business regulation. Recognizing that sound business regulations are fundamental to a top performing economy, the economies that perform well in the Doing Business rankings are not those with no regulation, but rather those whose governments have managed to create rules that facilitate interactions in the marketplace without needlessly hindering the development of the private sector. This year the metrics for measuring the 11 areas of business regulation have been refined to include a higher emphasis on regulatory quality, with Denmark improving its position within the global top 5.
“Companies can benefit from a simple plug ‘n play registration and be ready to do business in just a few hours. Coupled with access to a highly skilled workforce, innovative industry clusters, and a famously flexible labour market, the ease of setting up and running a business makes Denmark a very attractive investment destination”, Mogens Jensen adds.
Political attention to framework conditions
Since last year’s report Denmark is commended for having made it easier to start a business by reducing the paid-in minimum capital requirement. This is part of a sustained effort, Mogens Jensen explains:
“Despite this year’s top ranking, we will not be complacent. The Danish government constantly strives to improve framework conditions for business investments, and we will continue to do so in the future. That’s simply a must in today’s fast-paced global business environment”.
About the report:
Since 2005 the World Bank’s annual Doing Business report has measured business regulation as a central element of a good investment climate, resulting in the Ease of Doing Business Index. It is based on the inputs of more than 9,000 local experts that compare business regulation in 189 economies in the world.