Forbes: Denmark is best country for business 2014
18 December 2014
The best country for business in 2014 is Denmark, which ranked no. 1 three straight years between 2008 and 2010.
Denmark’s business climate is extremely positive despite its recent economic challenges following the financial crisis, concludes Forbes' Best countries for business index 2014.
Denmark scores highly across the board, finishing in the top 25 in each of the 11 categories considered with top five showings for personal freedom, technology and low corruption.
Moreover, 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.
One of Europe’s most productive workforces
One of the keys to Denmark’s pro-business climate is the flexible labour market known as “flexicurity,” where companies can easily fire and fire workers with out-of-work adults eligible for significant unemployment benefits. Unemployed workers are also eligible for training programmes. It creates one of the most productive workforces in Europe.
“The model encourages economic efficiency where employees end up in the job they are best suited for”, says John Weis, an economist at Moody’s Analytics with an expertise on the Danish economy. “It allows employers to quickly change and reallocate resources in the workplace.”
About Forbes’ best for business index
Forbes’ Best Countries for Business index covers 146 nations and measures 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.
Each category is equally weighted.
The data comes from published reports from the following organisations: Freedom House, Heritage Foundation, Property Rights Alliance, Transparency International, World Bank and World Economic Forum.
The top 10 best countries for business 2014
- Hong Kong
- New Zealand
Read more about Denmark's business climate and see Forbes’ Best countries for business index 2014.