5 Best Countries in Europe for Business Expansion
If your business is rapidly growing and you are planning an international business expansion, you might find yourself researching the best countries for expansion. A lot of factors go into choosing the right one.
For instance, an ideal country for business expansion should have the following:
- Minimum barriers to entry
- Ease of doing business
- Skilled workforce
- Stable and strong economy
- Favorable tax and employment regulations
- Stable governance
- Advanced in innovation and technology.
Considering the above-mentioned factors, many European nations fall into the category of ideal business environments. Therefore, we have created a list of the best countries in Europe for business expansion to help you decide your next corporate location.
Best Countries in Europe for Business Expansion
Germany is one of the richest countries in Europe with its largest economy. Its financial hubs Berlin, Munich and Frankfurt are ideal for small and mid-sized enterprises (SMEs) and big industries with highly talented workforce. As the fourth largest economy in the world, Germany’s business-centric environment is a magnet for investors and businesses.
Here’s why Germany is the best country in Europe for business:
- It has a highly skilled and talented workforce.
- Its economy is stable.
- It is politically stable.
- It has strong legal protections for businesses and investors to safeguard their rights.
- Its infrastructure is very developed.
- It is one of the most innovative countries in the world.
- It is the largest consumer market in the EU.
- It offers highly attractive investment incentives like GRW grants.
All of these and more are why businesses turn to Germany when considering expansion to Europe.
According to The European Chamber, Norway is the 4th best country in Europe for business, thanks to the nation’s strong commitment to innovation, its economy and its world-class industries. Norway has one of the world’s lowest carbon footprints due to its renewable energy while at the same time, is one of the world leaders in oil, gas, maritime, energy and seafood industry.
Here’s why Norway should be in the list of your go-to countries for business expansion:
- 98% of its electricity is produced from renewable energy.
- Norway ranks number 9 in the world for friendly business regulations.
- Norway has a highly skilled and competitive workforce.
- It has a highly advanced infrastructure.
- It is politically stable.
- Its economy is very strong.
Ranking first in the list of best countries for business in Europe, Denmark definitely deserves a spot on your list of next business destinations. This free-market capitalist economy offers a highly favorable business environment, just like its social welfare programs.
Here’s why Denmark was ranked first in the list of best countries in Europe for business:
- It has a large pool of multi-lingual, talented professionals.
- The labor market initiates very little litigation.
- Its research and development is one of the best in the world.
- It is home to world-class corporations, especially in the renewable energy sector.
- It is known as the cleantech hotspot of Europe.
- It is highly advanced in biotechnology, food innovation, energy and the technology industries.
Sweden’s economy is one of the highest performing economies in the world. This Nordic nation has been highly competitive in global business with skilled labor force for quite a while. According to the Doing Business report of 2020, it currently ranks 10th in the list of countries for ease of doing business.
Expanding your business to Sweden means benefitting from the following:
- Automated and efficient structure for business processes that make your operations easier.
- Online platforms for meeting the legal obligations.
- Lowest corporate taxes in the EU.
- A business-friendly government that invests in several industries.
- An open economy that supports competition.
- A highly favorable environment for startups.
- It stands second only to Silicon Valley for housing billion-dollar firms.
Another country known for its technology and innovation, Finland is a highly attractive location for businesses. The nation’s capital, Helsinki was ranked the 4th best city for emerging ecosystems for startups. Here’s why:
- Finland’s economy is highly stable and predictable, that makes it an ideal location for doing business.
- It is a highly industrialized nation with extensive budgets for research and development.
- It has free trade laws.
- Its infrastructure is highly advanced and reliable.
- The Finnish workforce is very educated and skilled.
- Finland hosts various foreign companies with large foreign investments.
European countries are a hotspot for global businesses due to their innovation and technology, as well as stable governments, economies and a highly educated workforce. So if you are looking for the best countries in Europe for business, these countries should definitely be in your list!