DENMARK: If you want to be successful with your business in Scandinavia, you must be aware that Denmark, Sweden and Norway are three widely different countries. In a small series of articles we focus on the characteristics of the three countries. In this article we take a closer look at Denmark.
A highly developed service sector
Denmark relies on a highly developed service sector and large export-oriented industry. Altogether, the service sector employs about 70 percent of the Danish workforce, which accounts for nearby half of the GDP.
Industrial products makes 65% of the export
Industrial products makes more that 65 percent of the Danish export and oil, natural gas, fish, salt and limestone are Denmark’s most important natural resources. Denmark is also known for food, furniture, clothing, design, interior design, cooling and heating equipment, transport, windmills, pharmaceuticals, high grade measuring instruments and some IT and communications systems.
Extensive welfare system
The welfare system is extensive and financed by one of the highest taxation levels in the world. The basic principle is that all citizens have equal rights to social security. Standard of living in Denmark is high and the differences between rich and poor are pretty small.
According to OECD, Denmark records an employment rate of around 75 percent on average. Thus, it is placed as one of the top rated nations globally in terms of employment.
A well-educated population
The general education system enjoys high priority and receives a high percentage of public funding with a result in a well-educated population resulting in a high proportion of university graduates. Great emphasis is placed on lifelong access to education and Denmark is producing highly skilled technicians and engineers.
Low grade of hierarchies
Informality is typical in the danish business life and there is a low grade of hierarchies between employees and management and manners between colleagues are informal and relaxed.
Danes are helpful
Danes people are considered helpful, open and in general tolerant by foreigners and are interested in asking questions about the other’s culture and country.