Global Entrepreneurship - Task
If I could choose a country to start up my own business it would be Denmark, why? Let
me explain it more deeply.
Denmark is one of the major start-up hubs in Europe, with outstanding industry clusters
and an active and growing entrepreneurial ecosystem.
As a student living in the second biggest city in Denmark Aarhus, I often noticed that,
like most European cities, eating out is a norm. People are always enjoying themselves at
all types of eateries in this city. That is why I would definitely consider a food related
business like distribution of dry groceries and fresh vegetables to hotels, restaurants,
entertainment places and so on.
The most convincing reason to do so, is the fact that there is a very strong collaboration
across Danish government, investors, startup communities and enterprise companies,
which has been instrumental in boosting entrepreneurship in Denmark. There is also a
huge support from government to young people opening their own businesses.
The leading position of Denmark concerning entrepreneurship is confirmed by the
Global Entrepreneurship Index. In the rankings of 2019 Denmark is
number 4 in the world and 1 in the European Union. Even though
taxes and wages can seem challenging, it brings some fundamental
benefits to the entrepreneurs. Free education and access to free
healthcare. Moreover, the workforce is productive. Denmark’s
economy is the fourth most productive in the world, while also having
the fewest actual hours worked.
What is more, Denmark is world leader in gender equality achieving a near-excellent
score of 89.3 out of 100 in the 2019 Sustainable Development Goals (SDG) Gender
Index released by Equal Measures 2030.
In 2019, the self-employment rate was more then a half of
the rate across the European Union (8.039% vs. 14.0% for
the EU).
Denmark also scores well on the World Economic Forum’s
gender equality index.
Women and men in Denmark share the same formal
rights, obligations and opportunities in society, even though gender equity ratio is
almost a half lower for women (0.53%) than for men (0.98%)
Approximately 5.4% of the adult population (18-64 years old) in Denmark were involved
in starting a new business or operating a new business between 2015 and 2019 relative
to 6.7% of the European Union population.
Starting a new business may not be the case for young people in Denmark since there is
a very high fear o failure (50%) compares to the global average (34.16%) that prevents
them from starting their own businesses, however, I think it could be a great opportunity
since there are not many competitors in the market.