In October, the World Bank ranked Denmark as the easiest place in Europe to do business and now Forbes Magazine is following suit, rating Denmark number one in its newly-published global league table “Best Countries for Business.”
“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 high 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.
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 because out-of-work adults are eligible for significant unemployment benefits and training programs. Forbes also 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.