• Denmark's news in English
 
app_header_v3

Denmark best in Europe for doing business

The Local · 29 Oct 2014, 08:28

Published: 29 Oct 2014 08:28 GMT+01:00

There are few places in the world better for doing business than Denmark, according to the World Bank. 
 
The World Bank Group’s Doing Business 2015 report ranks Denmark as the fourth best country in the world – and the best in Europe – for the ease of doing business. Denmark was topped only by Singapore, New Zealand and Hong Kong. 
 
The fourth place finish was Denmark’s highest ranking since the World Bank started its Doing Business reports in 2005. 
 
Trade and Development Minister Mogens Jensen said the ranking would help Denmark attract international companies. 
 
“I’m proud that Denmark is one of the countries in the world where it is easiest to start and run a company. That Denmark sits at the top of this important competition index is a real boost to our ability to retain and create new jobs by attracting more foreign investors,” Jensen said in a statement. 
 
The World Bank pointed to business reforms made in Denmark as reasons for the country’s jump from fifth to fourth place. A key reform was the decrease in capital investment needed to start a company. Effective January 1st, the capital requirements for starting a limited liability company (anpartsselskab) was reduced from 80,000 to 50,000 kroner (from roughly $14,000 to $8,500). 
 
The Doing Business report looks at countries’ business regulations, including the ease of starting a business, paying taxes and trading across borders. A total of ten topics were examined in 189 global economies in the new rankings. 
 
Of the Doing Business report’s ten categories, Denmark performed best in ‘dealing with construction permits’, where it received a fifth place rank. The country’s worst category was ‘enforcing contracts’, where it came in at number 34. Denmark's country report can be viewed here
 
The report found that as a whole, governments the world over had implemented a range of reforms over the past year to improve business conditions. Sub-Saharan Africa carried out the largest number of business reforms – 75 in total.  
 
Story continues below…
“It is very encouraging that some of the world’s poorest developing countries have implemented so many business-friendly reforms over the past year. I hope that it can contribute to getting more needed investments to the African continent and hopefully also make it more interesting for Danish companies to seek out new business opportunities,” Jensen said. 
 
In addition to Denmark, the other four Nordic countries also ranked among the top dozen places to do business: Norway (6), Finland (9), Sweden (11) and Iceland (12).
 
Rita Ramalho, the lead author of the Doing Business report, discusses the survey’s results in the video below.  

For more news from Denmark, join us on Facebook and Twitter.

Your comments about this article

Today's headlines
Denmark ready to cut off money to royal grandkids
Queen Margrethe and her eight grandchildren waving to well-wishers on the queens's birthday last month. Photo: Ida Guldbæk Arentsen/Scanpix 2016

Politicians appear ready to limit the number of Queen Margrethe’s grandchildren who get an annual salary from the state.

First service marks Battle of Jutland centenary
A memorial park to mark the world's largest naval battle that took place May 31, 1916 during World War will soon open in Denmark. Photo: Scanpix

Britain yesterday kicked off a week of commemorations marking one hundred years since the Battle of Jutland, the largest naval battle of World War I.

Border checks
First migrants make it from Denmark to Sweden on foot
The Øresund Bridge connects Copenhagen to Malmö. Photo: Colourbox

Dozens of attempts to cross the Øresund Bridge have been made, but this is the first successful crossing.

Seagulls 1, Aarhus 0
Aarhus's Hitchcockian nightmare will continue. Photo: Stefan W/Flickr

Officials in Denmark’s second city declared an all-out war on seagulls earlier this year. They lost.

Russia lashes out at ‘hostile’ Denmark
Russia's ambassador to Denmark, Mikhail Vanin. Photo: Embassy of the Russian Federation in the Kingdom of Denmark

Russia’s ambassador to Denmark accused the Danes of being “hostile” and “anti-Russian” in an interview published on Friday.

Danish MP cleared for 'bomb civilians' remark
Søren Espersen of the Danish People's Party. File photo: Keld Navntoft/Scanpix

Copenhagen Police have dropped proceedings against Danish People’s Party (DF) spokesperson Søren Espersen after he said that Denmark “should start” bombing civilians in Syria.

Denmark's biggest IPO to be windfall for Goldman Sachs
Dong's expected market value is up to 106.5 billion kroner. Photo: Claus Fisker/Scanpix

The Danish wind farm group Dong Energy is valued at up to $16 billion, leading to renewed debate about its partial sale to the US investment bank.

Aarhus blocks plans for grand mosque
Aarhus will not get a new mosque after all. Photo: Guillaume Baviere/Flickr

The sale of a plot of land for the construction of a grand mosque has been cancelled by Aarhus Municipality.

Denmark's waters are cleaner than ever
Danish beaches are cleaner than ever. Photo: Old Dane/ Wikipedia

Jump on in, the water's fine! In fact, it's cleaner than it's ever been.

Syrian refugees sue Denmark over long family wait time
File photo of the refugee tent camp in Thisted. Photo: Sara Gangsted/Scanpix

A group of five Syrians are suing Denmark and Immigration Minister Inger Støjberg over the three-year waiting period for family reunification imposed on refugees.

Sponsored Article
VIDEO: Why Malmö is the world's 6th best city for biking
Green card holders in Denmark in race against time
National
Green card holders in Denmark in race against time
Sponsored Article
Eat, learn, live: unforgettable holidays in France
How Copenhagen achieved an ‘organic food revolution’
National
How Copenhagen achieved an ‘organic food revolution’
Travel
The second best destination in all of Europe is...
Sponsored Article
Why you should attend an international job fair
Sport
We are the champions! Denmark wins world badminton team title
After 100 years, British WW1 sailor identified in Denmark
National
After 100 years, British WW1 sailor identified in Denmark
Society
Strangest political story in Denmark just got stranger
International
Keeping Denmark in Europol 'maybe impossible'
Analysis & Opinion
Green card holders tell Denmark to keep its promise
National
Denmark picks F-35 in historic jet purchase
Society
Denmark to no longer define transgender as mental illness
National
Danish minister tells 'Sharia' troublemakers to 'get a job'
Culture
Danish 'martyr' exhibit reported to police
National
Denmark extends 'temporary' border measures for sixth time
National
Denmark nears final decision on controversial fighter jets
Society
Muslim ‘girls only’ swimming sessions ripple Danish waters
National
Could Danes face a 'red meat tax' to help climate?
National
Denmark unable to process or issue visas
Denmark to go to war against Isis in Syria
International
Denmark to go to war against Isis in Syria
Business & Money
How Denmark’s national bank card is about to change
Culture
The best Danish bands you've (maybe) never heard of
Danes leaving the church in droves
Society
Atheist campaign gets Danes to leave the church in droves
2,289
jobs available