3 Crucial European Countries to Do Business In
For global expansion consider these 3 countries: Denmark, the UK, & Norway
Many countries in the European market have business-friendly environments that attract business owners and investors all around the world. The government bodies and legal frameworks in Europe allow new businesses in these markets to prosper and thrive. NNRoad are experts in navigating the European market and can guide your business towards global success. Whether you are seeking employment solutions, assistance to setup your company, or payroll, tax and accounting services in the EU and beyond, NNRoad can help you. Keep reading to learn more about the three European countries for your business considerations.
Open Your Company in Denmark
Denmark is a sovereign state country located in Southern Scandinavia that consists of a peninsula and over 400 islands. Denmark has a reputation for having a high standard of living and a good work-life balance. It is an ideal spot for many to open their company and hire employees for global expansion in the area. Here are few reasons why you should do business in Denmark:
- Denmark ranks as the top country to do business in Europe and the fourth best country do business in the world, according to the World Bank’s 2020 report. In 2020, Denmark, has received a perfect score for trading across borders.
- Denmark has one of the strongest hubs in the world when it comes to renewable, clean energy, biotech, and life science. As a result, Danish companies control a third of the global wind market.
- The country’s strategic location makes it a gateway to the Scandinavian, Baltic and North European markets and is close in proximity to the economies of Germany, Sweden, and Poland.
Start a Business in the United Kingdom
The United Kingdom (UK) is one of the most powerful nations in terms of trade with the fifth largest economy in the world. The UK boasts competitive tax rates and high employment rates making it a great place to start a business. Investors and business owners find the UK to be a lucrative market to engage in for a number of reasons:
- As of April 1st, 2020, the UK’s CIT (corporate income tax rate) is 19%, the lowest CIT in the G20. Companies who set up shop in the UK will benefit by having more financial flexibility for core business ventures.
- The British government is pro-business and provides many different tax-related benefits for founders, investors, and entrepreneurs.
- The ease of incorporating in the UK makes the country a popular place to start a business. Around 590,000 new businesses started in 2017. Many small business owners and entrepreneurs flocking to the UK means there are many opportunities to build your network and to connect with potential business partners.
- The UK’s connection to the rest of the EU makes it an ideal location to hire employees or open your company.
Register Your Company or Lease Employees in Norway
Norway has a culture of innovation, high productivity, and higher standards of education. Having such a culture makes doing business in Norway ideal for many foreign businesses. With the culture of innovation Norway is a popular place to start a business; additionally the high educational standard means there is a talented pool to choose from for employee leasing in Norway. Here’s a few reasons why you should consider doing business in Norway:
- Norway’s main economic driver comes from oil in the North Sea which has contributed to the country’s high standards of living. Businesses based in Norway will have a consumer audience with a lot of disposable income.
- The country is a technologically advanced nation. Having higher standards of education leads to a highly-skilled workforce, especially in Informational Technology (IT), design, finance, and music technology.
- Norway is a politically stable nation with minimal corruption. Investors would feel secure knowing that the political atmosphere in the country will not affect the way business will operate within the country.
Denmark, the UK, and Norway make up some of the most ideal markets in Europe and global expansion into Europe is easy when partnering with NNRoad. NNRoad understands the nuances between European countries and are equipped to help you navigate the country you’re interested in. In addition to Denmark, the UK, and Norway there are many lucrative markets around the world that are often overlooked, learn more about these underrated markets by checking out our 5 Underrated Countries Businesses Should Expand To blog post. Reach out and contact us about expanding your business today!