Denmark’s wealth of opportunities highlighted in our latest Doing Business Guide
20 December 2016
Posted by: IOE News
The latest in the Institute’s vibrant Doing Business Guide series – which advises and assists UK companies who are looking to trade and invest in opportunity-rich overseas markets – has been published.
Doing Business in Denmark offers businesses working in international trade an insight into a highly developed nation that will help them to begin exporting their goods and services there.
The guide includes an overview of Denmark’s economy, business culture and potential opportunities – and identifies the main issues associated with initial research, market entry, risk management, culture and language.
Denmark’s business community is affluent and educated with a strong reputation for paying suppliers on time and its open economy is receptive to UK products and investments. Among the information presented by the guide are six key facts about doing business there:
- The World Bank’s ‘Ease of Doing Business’ report ranks Denmark third in the world and the top location in Europe.
- With bribery practically unknown, Denmark has held top rankings in the international Corruptions Perceptions Index for many years.
- Annual trade between Denmark and the UK is valued at £5.7 billion – the UK exported £2.5 billion in goods there in 2013. Main exports are food, beverages, animal products, energy, fuels and related minerals, machinery, manufactured goods and pharmaceuticals.
- Denmark currently has extensive opportunities within construction, engineering and transportation. This includes one of the largest rail renovation projects in Europe, running until 2025.
- The Danish workforce is among the most productive in Europe and there are no restrictions on overtime work, allowing companies to operate 24 hours a day, 365 days a year.
- It takes only 24 hours to establish a Danish company online.
The guide is available to download on the website or you can download an app (from both the Apple App Store and Google Play Store). Alternatively, you can order a free full colour hard copy brochure here.
Institute of Export & International Trade Director General, Lesley Batchelor OBE, said: “Our series of Doing Business guides covers countries as diverse as Kazakhstan, Germany, India and Angola – and has been universally praised by UK exporters operating in these markets.
“Denmark’s economy presents UK exporters with huge opportunities and I am sure our latest publication will prove just as useful to those who want to build long-term partnerships there.”