In this article, the Nordic Embassy, an international business development consultancy with a deep specialism in the Nordic region, explain why the Nordic region is the perfect location to grow and scale your business.
Are you looking to find the right location for your new European Head Office? Or maybe a new growth market. And not sure where to go? If you ask World Bank, the recommendation is clear; go for the Nordic region!
For the seventh time in a row, The World Bank ranks Denmark the best country for doing business in Europe. Worldwide, Denmark ranks number three, followed by its fellow Nordic countries; Norway (no. 7), Sweden (no. 12), Finland (no. 17) and Iceland (no. 21) but more importantly the region also outperforms countries like USA, United Kingdom, Germany, France, Italy and Spain.
Flexible labour market within the Nordic Region
The labour market within the Nordic Region works differently from country to country. Overall the labour market is very open within the Nordic Region; you can as a worker move freely between the countries without any issues. The Danish labour market is the most flexible in Europe. Flexible hiring/firing legislation and minimum wage regulation provide excellent up and down-scaling conditions so you can adapt to market changes quickly and efficiently.
A productive and talented workforce
The workforce in the Nordic Region is the most prolific and hardworking in Europe, across industries. Productivity in the Nordic Region is about 40% higher than the average of all countries in the European Union, 27% higher than the United Kingdom, 33% higher than Germany.
Furthermore, the Nordic Region is known for having highly educated and talented workers, which is because the countries are prioritizing to create opportunities for children and young people. For example, they fund studies at higher education institutions throughout the Nordic Region. So foreign companies entering the Nordic Region can benefit from both excellent productivities but also skilled and highly motivated workers from the entire region.
Find out ore
To have an in-depth conversation about how your business can expand into the Nordic markets, meet in-country entry and business specialists, Nordic-Embassy at one of our upcoming expansion workshops. Check out our event schedule here.