World Bank: Denmark best European country for business in 2015
30 October 2014
For the 4th consecutive year, Denmark is the easiest country in Europe to do business, according to the World Bank’s Doing Business report.
According to the World Bank’s Doing Business 2015 report, Denmark is the easiest country in Europe to do business – and has also moved from 5th to 4th in the world, behind only Singapore, New Zealand and Hong Kong.
“The World Bank ranking confirms that Denmark offers one of the world’s most dynamic and attractive business environments. Here, investors will find a highly skilled workforce, innovative companies and industry clusters, very competitive taxes and business costs, and a famously flexible labour market”, says Claus Lønborg, CEO, Copenhagen Capacity.
Denmark has, among other things, made it easier to start up a business by reducing the minimum requirement for start-up capital. On 1 January 2014, the capital requirement for limited liability companies was reduced from DKK 80,000 to DKK 50,000.
Danish regulation supports businesses
The report presents quantitative indicators on 11 areas of business regulation, including how easy is it to start a business, obtaining building permits and registering property as well as power supply, credit, taxation and trade restrictions.
Recognising that sound business regulations are fundamental to a top performing economy, the economies that perform well in the Doing Business rankings are not those with no regulation, but rather those whose governments have managed to create rules that facilitate interactions in the marketplace without hindering the development of the private sector.
This year, the metrics for measuring the 11 areas of business regulation have been refined to include a higher emphasis on regulatory quality, with Denmark improving its position within the global top 5.
Norway, Finland and Great Britain are the other top 10 European countries.
See the rankings on the World Bank’s website.
About the report:
Since 2005 the World Bank’s annual Doing Business report has measured business regulation as a central element of a good investment climate, resulting in the Ease of Doing Business Index. It is based on the inputs of more than 9,000 local experts that compare business regulation in 189 economies in the World.