Opening a New Business in Denmark: Why Choosing This Nation Is a Good Decision

Today Denmark is one of the most prosperous countries in the world. Unemployment rates are low. Denmark also has low inflation and a surplus on both balance of payments and public expenditure. The World Economic Forum’s 2008 competitiveness index ranks Denmark in its Top Three world-wide. And the World Transparency Index ranks it as the world champion in non-corruption. Furthermore it should be noted that other international comparisons nominate the Danes as the happiest people in the world! Denmark’s success is so impressive.

Since the end of the last ice age, Denmark has gone from a small hunter- gatherer society, to a super power during the Viking era, and slowly transformed into what it is today. Although not considered a super power in today’s standards it is still a thriving society, with citizens that are some of the happiest in the world. This is possible due in large part to their economy. The Danish military is small but completely capable of defending itself while simultaneously providing support to its allies. The physical environment of Denmark plays a significant part in what has made the country successful. All of these things combined truly make Denmark a model to live by.

The European Union (EU) is a unique economic and political partnership between 28 different countries. It consists of about half a billion citizens, and its combined economy represents about 20 percent of the world’s total economy (Briney, 2015). Today The European Union works as a single market, with free movement of people, goods and services from one country to another. There is a standard system of laws to be followed, and since 1999 many countries share a single currency called the Euro (Europa.eu, 2015). This essay will explore the background history of the European Union and the benefits and drawbacks of the European Union.

Addressing some issues, the European Union decided to issue 750 million Euros in order to start the process of financial stability for the whole union (Mckee 524). Over time, the union learned that that the amount of money was not enough in order to help each countries’ individual financial crisis. As of now, the union has to increase the amount of money they are feeding to countries in hopes of fixing the economic issues. The continuing issue with the European Union’s economic plans is finding the money to keep funding countries with low economic growth. Furthermore, the union also has to figure out how to deal with the issues that are outside of the European Union’s borders. In

The Danes welfare model gives them the ability to balance work with family life. Most are in good health. The language spoken is Danish. They enjoy their lifestyle and are known for their Danish traditions, Christian faith, architecture,

The United States of America is the world’s greatest economy. If she falls the world falls with it. Being able to create a thriving and powerful economy is very tuff and very diligent task. It requires everyone in congress coming together sitting down and talk about how they can make this economy thriving once again. There are two ways that can and could possibly make the economy better, by giving grants and more loans to small business that are starting up and to create new incentives to keep jobs in America and bring them back.

Denmark is an emigration country. Along with millions of other emigrants from all over the European continent, many Danes emigrated via the ports in northern Europe (Buch-Jepsen, A., n.d.). The most important ports of emigration for the Danish emigrants were Copenhagen, Liverpool (as to indirect emigration), Hamburg and Bremen/Bremerhaven (Buch-Jepsen, A., n.d.). Denmark had its first real increase increase in emigrants in the 1860’s and

As the EU includes 27 states therefore they would inevitably face difficulties due to the diverse range of national interests. On the other hand increasing numbers of policies are decided on a supranational level and therefore speed the process, for example decisions relating to trade or agriculture. However vital policies such as Defence remain intergovernmental, as do decisions such as the accession of new states. The effect of recent economic crisis has made an impact on the creation of EU superstate. The global downturn, which originated in 2007 created the ‘Eurozone’ crisis. As a result EU bailouts have been organized for Greece, Ireland and Portugal. The fear of the crisis extending further across Europe has caused a loss of confidence in the EU, and in particular the euro. There has even been speculation that Greece may have to exit the ‘Eurozone’. Alternatively it has also caused some to call for further integration, arguing the crisis has shown the need for tighter budget rules throughout the EU.

Nestled in the northern part of Europe, between Norway and Finland, is a country filled with great opportunities for all to benefit. Sweden’s wonderful landscape and breathtaking views are all but the tip of the iceberg of why moving there would be so incredible. The many reasons to live over there include their educational system and healthcare options that give assistance to anyone that needs it. Not to mention being one of the richest countries in the world and using foreign trade to connect with other locations to grow an even stronger economic base. Sweden has countless options promoting a better family lifestyle and offering more financial advantages to further your economic status.

The post-industrial nation is considered an MEDC, with a highly mixed economy and one of the highest GDP per capita (International Monetary Fund). Denmark ranks as the 6th highest according to the World Bank and IMF and 9th highest according to the UN (United Nations), with an overall GDP per capita of $60,634.4 (World Bank). Halfway through the 19th century Denmark became an industrialized exporter of agricultural produce, introducing their social and labor market reforms in 1933, serving as a foundation for the current welfare state model that Denmark exists on today, and highly developed mixed economy (source). Though part of the European Union since 1973, the Danes maintain their own currency, the Danish Crowns (dkk), the current trade

Denmark has many customs and courtesies similar to those of the United States. Danish prefer to be greeted individually with a firm handshake while maintaining a safe distance. Danish people are always punctual and expect the same of others. They expect people to do things the right way, insisting on a certain form of etiquette. Danish do not react positively to loud or boisterous people, so they typically monitor public behavior closely. Small gifts are accepted in appropriate circumstances, but the Danish do not focus as much on material values as they do personal qualities.

By the end of 2008, the European Union began experiencing rippling effects of the United States financial crisis. Several member countries, most notably on the southern end of the continent, faced high levels of debt and unemployment. Portugal, Iceland, Ireland, Greece, and Spain, derogatively referred to as “PIIGS,” required extensive economic support from the EU in order to repay government debts and bail-out private banks. Disbursal of aid in 2010 proved successful in promoting economic recovery in some countries; however, the vast majority observed only slight economic improvement which led to doubts regarding the effectiveness of the harsh austerity measures implemented. Ireland has most clearly benefited from the financial support of the European Union as the country’s unemployment rate has dropped below ten percent and is expected to witness 4.5% GDP growth in 2016. Portugal, on the other hand, shows little fiscal improvement as evident in an unemployment rate of 13% and an expected GDP growth of only 1.6% in 2016. Although both countries faced tough financial crises in 2010, Ireland has notably outperformed Portugal in resolving the situation. The weak economy in Portugal, as well as continued fiscal hardship in the remaining “PIGS” countries, threaten the preservation of the European Union as financial inequality between the members persists.

Denmark is the oldest kingdom in the world and one of the oldest states in Europe. The current monarch, Queen Margrethe II is very popular among the Danes and began ruling in 1972. Denmark’s history started with the Viking age. The Danes conquered northern and eastern England and Christianity was introduced during this time. The Reformation fighting ended in 1536 and left the establishment of the Lutheran church headed by the monarch. Denmark lost territory and money in the Thirty Years War with Sweden. However, the Great Northern War restored Denmark’s power in the Baltic. Despite some territorial losses, Denmark started to prosper economically, introducing a representative form of government and many social and educational reforms. Denmark remained neutral in the First World War and the present southern border with Germany was established. As Hitler rose to power in Germany, Denmark introduced the Great Social Reforms, continuing to prosper culturally. Denmark was occupied by Germany in World War II. Denmark joined the European Community in 1973.

The European Union (EU) was established in order to prevent the horrors of modern warfare, experienced by most of Europe during the World Wars of the 20th century, from ever ensuing again, by aiming to create an environment of trust with the countries of Europe cooperating in areas such as commerce, research and trade (Adams, 2001). The EU has evolved into an economic, trade, political and monetary alliance between twenty-eight European Member States. While not all Member States are in monetary union (i.e. share the currency of the euro), those that are form the ‘Euro-zone’ (Dinan, 2006). The EU can pass a number of types of legislation, with a regulation, act, or law, being the most powerful. Its ‘tricameral’ (European Union, 2007)

Despite the economic problems, Denmark has a sound unemployment rate that has held steady at 6.1% of as 2011. The small size of the country and the relatively slow growth rate of its population have allowed Denmark to maintain this relatively healthy unemployment rate relative to other European countries. The World Bank classifies Denmark as a high income country and a member of OECD (World Bank, 2012). The country had been growing between 2 and 3% annually during the 2000s prior to the recession. During these years, the unemployment rate was lower, in the 4-5% and just over 3% in 2008 prior to the bursting of the housing bubble and the onset of the economic downturn. As a result, Denmark's current situation reflects challenges associated with reaching full employment in the economy, but its excellent starting point means that the country is relatively