Accounting & Payroll

Accounting & Payroll

Business in Scandinavia

Are you considering expanding your business to the Scandinavian market? This guide provides insight into the cultural, economic, and legal aspects unique to Norway, Sweden, and Denmark. Get the guide today and gain an advantage on your Scandinavian business journey!

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Why read this guide?

How to do business in Scandinavia

  • Acquire valuable insights into the business cultures of Scandinavia
  • Learn about the unique features of the Scandinavian market and what sets them apart
  • Obtain crucial information about the laws and regulations impacting business activities in the Scandinavian countries
  • Receive practical advice on establishing and expanding your business in Scandinavia

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ECIT March 14Th, 2022 Kyle Meyr HR0003

This guide contains

Business environment
Taxes and regulations
Salary and working conditions
Public systems and infrastructure
Challenges, opportunities and tips

Business environment

Questions related to the business environment in Scandinavia are relevant and interesting for anyone considering establishing a venture in the region. In this article, we will carefully explore this topic and present the key elements that characterise the overall business culture in Scandinavia. At the same time, potential differences between the Scandinavian countries will be discussed, as these could pose challenges for entrepreneurs and investors. Various issues will be thoroughly examined and considered by our experts, who will also provide insightful perspectives.

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Taxes and regulations

In essence, there are relatively few major differences among the Scandinavian countries when it comes to taxes and fees. This is primarily due to the desire to avoid significant competitive advantages between the countries. Nevertheless, it is important to familiarise oneself with the tax systems, current regulations, as well as rates and fees. In this section, we will introduce the key requirements in the three countries and evaluate which approaches may be advantageous when establishing a business.

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Salary and working conditions

Due to the extensive nature of these topics, a separate article has been written specifically addressing wages in Scandinavia, which you can learn more about here. However, in this article, there will also be a comprehensive summary of the labour market and salary conditions in Denmark, Sweden, and Norway. Among other things, you can read more about why a misemployment can prove to be very costly in Sweden and Norway, as well as the differences between the countries regarding the handling of absences in salary payments.

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Public systems and infrastructure

Denmark, Sweden, and Norway are all relatively digitised and automated in a global perspective. In this part of the article, you can learn more about the essential systems for company operations in these three countries and what is required to register for the use of these public portals. Essentially, everyone needs a digital ID and a digital mailbox to get started. However, for the process to be as concise and efficient as possible, it is essential to know which steps to follow.

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Challenges, opportunities and tips

This article concludes by summarising the challenges that must be addressed to succeed in business operations in Scandinavia. At the same time, our experts also focus on the opportunities that exist in the three countries. For instance, there are good chances of receiving support from both the public and private sectors by presenting a sustainable or green project. Moreover, history, political priorities, and geography contribute to the development of distinct expertise in the business sectors of these three countries. To succeed, it's about avoiding pitfalls and being as well-prepared as possible.

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