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D e . e c n o m . u k a r k MAIN PRACTICE AREAS Lundgrens’ specialised client teams provide services • FINANCE & CAPITAL MARKETS across multiple legal areas and languages. • M&A Making us your gateway into Denmark and the • PUBLIC LAW • REAL ESTATE entire Nordic Region. • TAX Lundgrens is one of Denmark’s leading law firms. OTHER PRACTICE AREAS We assist Danish and foreign companies, financial • COMPETITION, PUBLIC PROCUREMENT & STATE AID institutions, private equity funds, organisations and • CORPORATE AND COMMERCIAL public institutions within our Practice Areas. • DATA PROTECTION We make it our business to understand our clients’ • DISPUTE RESOLUTION • EMPLOYMENT & LABOUR LAW industries, practical challenges and principal goals, • ENVIRONMENT & ADMINISTRATIVE LAW and focus on advice that benefit the client’s overall • INSOLVENCY & RESTRUCTURING business case. • INSURANCE AND DAMAGES • INTELLECTUAL PROPERTY • IT
LUNDGRENS.DK CONTENTS
9 Denmark overview
11
Welcome from Lesley Batchelor OBE, FIEx (Grad) – Director General, Institute of Export
13
Foreword by Dominic Schroeder, British Ambassador to Denmark
15 Welcome from Vagn Thorup, Chairman of the Board, British Chamber of Commerce in Denmark & Senior Partner of the law firm Lundgrens
25 Why Denmark?
17 About the Department for International Trade (DIT)
18 UK Export Finance: clearing your path to trade
23 About this Guide
www. Denmark .Doing Business Guide .co.uk 3 37
Researching the 25 Why Denmark? market 26 • Summary 27 • Geography • Government overview • Greenland, the Faroes and the German minority 28 • Danish welfare system • Education in Denmark • Danish labour market 29 • Corporate social responsibility (CSR) 30 • Economic overview • Benefits of Denmark for UK businesses • Strengths of the market 31 • Growth potential • Free Trade Agreements (FTAs)
37 Researching the market
38 • Consultation and bespoke research 39 • Help available for you
47 Getting here and advice about your stay
48 • Entry requirements • Border controls • Passport validity • Visas • UK emergency travel documents • Travel advice 49 • Safety and security • Crime 50 • Terrorism • Health 51 • Travel insurance • FCO travel advice • Bribery and corruption CONTENTS
55 Sector-specific opportunities 25
56 • Infrastructure & engineering • Cleantech and energy 57 • Healthcare and the United Nations 59 • Defence and security • Other sectors
63 Preparing to export
64 • Start-up considerations 47 • Challenges to doing business in Denmark • Legal considerations • Standards and technical regulations 65 • Intellectual Property (IP) 67 • Tax and customs considerations
69 Business etiquette, language & culture 55 70 • Background • Money • The Danish language 71 • Danish society & culture • Etiquette & customs • Business protocol 77 • Public holidays
63 69 79
www. Denmark .Doing Business Guide .co.uk 5 Image: View from the South © Hayes Davidson and Herzog & de Meuron NEW EXTENSION) NEW (HARMONISING TATE’S SOLUTIONS WORLD-CLASS ENGINEERING More at www.ramboll.co.uk/worldclasssolutions at More together. buildings two the ties that screen perforated asloping forms that brickwork unique its is structure iconic this Encasing geometries. interesting into façade the breaks creases inward and corners sharp its with extension, Tate Modern the of pyramid twisting truncated The OIL & GAS, MANAGEMENT CONSULTING AND PLANNING & URBAN DESIGN. &URBAN PLANNING AND CONSULTING MANAGEMENT & GAS, OIL ENERGY, WATER, &HEALTH, ENVIRONMENT TRANSPORT, BUILDINGS, WITHIN SOLUTIONS SUSTAINABLE CREATE WE CONSULTANTS, AND DESIGNERS ENGINEERS, 13,000 WITH
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CONTENTS
79 Resources
79 Resources 88 Market experts contact details
80 What does membership of the 91 The British Embassy in Institute of Export mean? Cophenhagen 82 Focusing on qualifications. 93 Useful links Lesley Batchelor OBE, FIEx (Grad) - Director General, 97 Trade shows The Institute of Export 101 Map of Denmark 86 Supporting organisations contact details 103 Quick Facts
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www. Denmark .Doing Business Guide .co.uk 7
Denmark overview
Denmark is a Nordic country located in northern Europe, located southwest of Sweden and due south of Norway and is bordered by the German state (and former possession) Schleswig-Holstein to the south, on Denmark's only land border, 68 km (42 miles) long.
Denmark is ranked 3 rd out of 190 countries, and the top location in Europe, in the World Bank’s 2016 Ease of Doing Business index. In 2015 Denmark was ranked 1st out of 168 countries in Transparency International's latest corruption perception index. Denmark is one of the EU’s best performing economies. It has low inflation, strong growth and relatively low unemployment at 6.2%.
Strengths of the Danish market include easy access to northern European markets via Copenhagen hub airport and high quality motorway network, a well-educated population with a high proportion of university graduates, an advanced telecommunication infrastructure and it takes only 24 hours to establish a company online.
Doing business in Denmark is very similar to doing business in the UK. If your product or service is successful in the UK, there is a good chance you will be successful in Denmark. MARKET EXPERTS
Thank you to our Market Experts
www. Denmark .Doing Business Guide .co.uk 9 I
The Sky’s the limit
Choosing a great export training partner can really help your company take off in the export trade! We can help develop new ideas and find ways to drive down costs and produce sustainable improvements in your export business. Our main aim is to help you achieve your export and international trade goals. Exporting great ideas to you.
Join us today t: +44(0)1733 404 400 e: [email protected] w: www.export.org.uk 23/4/15 10:01 Page 2
Welcome from Lesley Batchelor OBE, FIEx (Grad) - Director General, Institute of Export
Preparing for any new market needs consideration when thinking about a country like Denmark there are many issues both cultural and business linked that you need to think through.
This guide offers you the opportunity to think through your market issues and learn how to enter the market successfully and with as little pain as possible.
The Institute of Export’s mission is to enhance the export performance of the United Kingdom by setting and maintaining professional standards in international trade management and export practice. This is principally achieved by the provision of education, training and practical support, a helpline and one-to-one assistance with paperwork.
Dedicated to professionalism and recognising the challenging and often complex trading conditions in international markets, the Institute is committed to the belief that real competitive advantage lies in competence and that commercial power, especially negotiating power, is underpinned by a sound basis of knowledge.
Why not contact us and find out how you can join? Lesley Batchelor OBE, FIEx (Grad) Director General - Institute of Export www.export.org.uk
www. Denmark .Doing Business Guide .co.uk 11 AccoWuorkningt eaxclnusitvesly w&ith i nBternuatiosnailnly oepersatisng bAusidnesvseis sers
CONTACT US
Sheltons Denmark | Omogade 8 | 2nd floor | DK-2100 Copenhagen | Denmark
[email protected] +45 45 46 10 88 www.SheltonsGroup.com Foreword by Dominic Schroeder, British Ambassador to Denmark
I am delighted to welcome you to this guide to doing business in Denmark – a country which is extremely UK receptive and offers first time exporters a stable, reliable market to start their international commercial activities.
Denmark is a wealthy and open economy. Danes are well educated and sophisticated buyers with a good reputation for paying suppliers on time. Doing business in Denmark is very similar to doing business in the UK. If your product or service is successful in the UK, there’s a good chance you’ll be successful in Denmark.
Denmark is also a commercial gateway. It offers easy access to the growing northern European markets of the Nordics as well as Germany, Poland and the Baltics. It is a regional hub with excellent, high quality air, rail and road networks. English is very widely spoken and there is great affection for the UK.
UK exports to Denmark are growing with over £5.4 billion of goods and services exported in 2015. Sectors which offer particular opportunity for British companies are infrastructure, rail, healthcare, defence and last, but by no means least, British food and drink. The British service sector is experiencing strong growth in Denmark and now accounts for almost 60% of the total UK exports. Professional services in areas such as insurance, shipping, legal, travel, advisory, engineering, architecture and financial services are all growing.
Greenland and the Faroe Islands are also a part of the Kingdom of Denmark. They are not part of the EU and do have their own systems of government, law and taxation which mean differences in employment and importing goods. The Faroe Islands offer opportunities in food stuffs and energy and opportunities in minerals and mining in Greenland’s arctic vastness are developing.
Helping British companies develop business opportunities in Denmark and supporting those companies which are already here, will remain a top priority for me and the team from the Department for International Trade based at the British Embassy in Copenhagen. I hope you will find this guide useful and a dependable platform for identifying opportunity in Denmark. We would be pleased to support you in doing business in Denmark. Dominic Schroeder British Ambassador to Denmark www.gov.uk/government/world/organisations/british-embassy-copenhagen
www. Denmark .Doing Business Guide .co.uk 13 Sadolin & Albæk ŽƌƉŽƌĂƚĞ^ŽůƵƟŽŶƐ
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In alliance with JLL Welcome from Vagn Thorup, Chairman of the Board, British Chamber of Commerce in Denmark & Senior Partner of the law firm Lundgrens
This publication contains a wealth of information for companies wishing to work with Denmark. You may be thinking about exporting to or setting up your business in the open and stable Danish economy. Not only is Denmark receptive to UK products and investments, it is perfectly placed as a gateway to the Scandinavian and Baltic countries and shares a border with the largest European economy Germany.
The British Chamber of Commerce in Denmark (BCCD) is a self-financing, not-for-profit membership organisation. The vision of BCCD is to be a prominent promoter of business and culture throughout Europe and beyond; to further this aim, we cooperate closely with the DIT and with the global network of British Chambers, both in the UK (members of BCC) and in Europe. We need to be able to support British businesses starting in Denmark and Danish businesses who are interested in investing in the UK.
Annual trade between Denmark and the UK is valued at close to £6 billion, with Denmark nd the 22 largest export market for the UK. The UK is the third largest export destination for Denmark, with sectors such as the food, drinks and tobacco industry constituting a large share of Danish exports to the UK. Denmark is also an important producer of different forms of energy, especially renewable energy such as offshore wind. With significant offshore wind projects such as “Hornsey Project One” under construction off the Yorkshire coast, the renewable energy sector presents huge market opportunities for businesses in both the UK and Denmark. To explore these opportunities, BCCD organised a series of trade missions to Hull and the Humber region, working in collaboration with major Danish partners including Esbjerg Erhvervsudvikling (EEU) and Djurs Wind Power (DWP). These trade missions and other activities represent an important aspect of the traditional work that BCCD undertakes.
Finally, in recent years we have consolidated our industry experience by moving into thought leadership activities. Through a series of conferences on topics as diverse as the Free Trade Agreement between the EU and US (TTIP), the EU Data Protection Reform and EU US Privacy Shield, and the potential consequences of Brexit, we have brought delegates from the European Commission and the International business community to Denmark. BCCD provides a neutral platform, enabling stakeholders from the private and public sectors, as well as civil society, to debate important issues which impact businesses.
We look forward to working with you. Vagn Thorup Chairman of the Board, British Chamber of Commerce in Denmark & Senior Partner of the law firm Lundgrens www.bccd.dk www. Denmark .Doing Business Guide .co.uk 15
Department for International Trade (DIT) (formerly UK Trade & Investment - UKTI)
DIT is the British Government department that helps UK-based companies succeed in an increasingly global economy. DIT also helps overseas companies bring their high quality investment to the UK’s economy. DIT’s range of expert services are tailored to the needs of individual businesses to maximise their international success. DIT provides companies with knowledge, advice and practical support.
Through a range of unique services, including participation at selected tradeshows, outward trade missions and providing bespoke market intelligence, DIT can help you crack foreign markets and get to grips quickly with overseas regulations and business practice.
With headquarters in London, DIT have professional advisers around the UK and staff across more than 100 countries.
Contact DIT
Contact your local International Trade Team or Scottish Development International (SDI), Welsh Government (WG) or Invest Northern Ireland (INI) offices to find out more about the range of services available to you.
You can find your nearest International Trade Team at: www.gov.uk/dit
General enquiry number: +44 (0) 207 215 5000 Department for International Trade 1 Victoria Street London, SW1H 0ET United Kingdom
Email: [email protected] www. Denmark .Doing Business Guide .co.uk 17 UK Export Finance: clearing your Specific issues you may need to manage path to trade can include:
Export finance and insurance can increase • having to wait for payment, restricting your capacity for growth. It can mean cashflow higher levels of finance compared to conventional lending. You can give your • exposure to the risk that the buyer overseas buyers time to pay, while cannot (or will not) pay for the exports protecting your cash flow. – for example, if the buyer goes bankrupt
There are many ways to arrange this. • being asked by the buyer to provide The right one for you will depend on a performance bond in return for an your circumstances but you could: advance payment. The bond needs to be issued by the exporter’s bank, • manage your working capital without which is likely to ask for cash security, using finance another potential cashflow restriction
• work with your existing bank finance arrangements HM Government support
• seek more support by shopping Exporters can talk to their bank or approach around for export finance and other specialist financial organisations to insurance try to secure working capital, and speak to insurers or brokers to source insurance Support is available, for example, to help against the risk of not being paid. you secure additional working capital, to insure against non-payment by customers Where exporters are unable to find the buyers, or to fulfil requirements to obtain working capital they need, UK Export performance bonds. Finance (UKEF) may be able to help by sharing some of the risk with their bank. Most exports to EU countries are sold on short credit terms of typically up to six We can consider support for all exporters, months. However sales of capital goods or large and small, across a wide range construction projects are usually arranged of sectors. In recent years we have on longer terms, and very large capital supported UK exports to the EU in most goods such as aircraft can be supplied sectors, including the agricultural, on payment terms of 10 years or more. construction, creative & media sectors, energy, food & drink, IT, leisure & tourism, medical, scientific equipment and water sectors.
We provide guarantees with the resulting obligations carrying the full faith and credit of HM Government – the most powerful partner a UK exporter can hope to find. A wide range of support wins an overseas contract that is larger than it is used to handling, or manages Types of assistance UKEF is able to offer, to win a number of contracts at the same in the right circumstances, include: time, but may struggle to finance them all at once Bond support – Under our Bond Support Scheme we can offer guarantees to banks Both the bond support and export working issuing performance or other contract capital products are accessed through bonds in relation to UK exports to China. participating banks. If your bank This often means the bank can issue the representative is unfamiliar with the bond and also expand working capital products, they can be referred to our facilities for exporters, as the extra credit ‘Bank toolkit’, which can accessed at is guaranteed by UKEF. www.gov.uk/uk-export-finance.
In 2016 UKEF helped a builder of bespoke Export Finance Advisers – catamarans, Blyth Workcats of Essex your free resource obtain the performance bond it needed to secure a German contract. Without a UK Export Finance’s regional network UKEF guarantee for its bank, the need to of Export Finance Advisers (EFAs) stand set aside its own cash cover against this ready to offer free trade finance information bond would have made it impossible to to UK companies who are exporting or fulfil the contract. UKEF guaranteed a considering exporting to Europe proportion of the bond helping release cash to fund its work on the catamaran, The EFAs act as local points of contact a new scientific survey vessel for a to introduce exporters and prospective German university. exporters to finance providers, credit insurers, insurance brokers, trade support “UKEF support was paramount for this bodies and sources of government project” said Stuart Davidsen, the support. They can also help explain UK production and design manager at Blyth. Export Finance’s own product range, “Our bank couldn’t cover 100% of the risk complementing what is available in the for the bond. Thankfully UKEF was able to private market. take on 50% of the risk. We couldn’t have gone ahead without it.” For more information and to book a meeting with an EFA, visit: Working capital support – UKEF’s Export Working Capital Scheme can enhance www.exportingisgreat.gov.uk/finance- your bank’s ability to lend you working and-insurance capital to support export-related activity. Under the scheme, we provide partial Note: more detailed UKEF contact (typically 80%) guarantees to lenders information can be found on page 86 to cover the credit risks associated of this guide. with export working capital facilities. The scheme is particularly useful in circumstances where a UK exporter www. Denmark .Doing Business Guide .co.uk 19 d e d lu c n i A S U d n a K U USE YOUR MOBILE PHONE IN 28 COUNTRIES DATA AND TALK WITHOUT EXTRA COST
WitWith 3LikeHomeke om you can usee youru mobile pphone inn 288 cocountries – includingu g UK, USA and Denmarke mar without extraa costst
Contacton act 3Business on [email protected] o @3. andn hehear more about oour tele/datae ata solutions About International Market Advisor (IMA)
International Market Advisor (IMA) works The guides’ contents focus on the market with British and foreign government in question, how to approach that market departments, Embassies, High and the help and support available, and Commissions and international Chambers include informative market overviews, plus of Commerce throughout the world. Our details of business opportunities, listings work helps to identify the most efficient with website links to British and Foreign ways for British companies to trade with Government support services and essential and invest in opportunity-rich overseas private sector service-provider profiles. markets. Sponsoring a ‘Doing Business Guide’ During the last ten years IMA has therefore offers a unique opportunity to worked with the British Government's positively promote your products and overseas trade and investment services to high-profile business leaders, department, the Department for specific exporters, investors and effective International Trade (DIT) [formerly business travellers who will be actively UK Trade & Investment (UKTI)], and has seeking out service providers to assist written, designed, produced, launched them in developing their business interests and distributed over one million copies of in the targeted markets. more than 100 country-specific print and multi-media based reports, guides and For more information on IMA publications, including the internationally- please visit our website: recognised ‘Doing Business Guide’ series www.DoingBusinessGuides.com of trade publications. These are composed of market and industry sector-specific, Contact IMA multi-format print and digital trade reports, together with some of the internet’s most Office address visited international trade websites - all of which are designed to advise and assist International Market Advisor UK companies looking to trade with and 1 Clough Street invest in overseas markets. These reports Buxton and guides are then distributed free-of- SK17 6LJ charge through the IMA and DIT global United Kingdom networks - over 500 distribution outlets in Email total. Further distribution takes place at global exhibitions, roadshows, conferences [email protected] and trade missions, and IMA receives daily requests for additional copies of the guides General enquiries switchboard from these networks and from businesses +44 (0) 1298 79562 considering exporting. Media enquiries Each of IMA’s 'Doing Business Guides’ is produced in three formats: a full colour, Newsdesk & out of hours glossy, paper-based brochure; a supporting +44 (0) 1298 79562 fully-interactive and updatable multi-media based website; and the website contents available as a free-of-charge downloadable smartphone/tablet app. www. Denmark .Doing Business Guide .co.uk 21 COMMITTED TO KEEPING INTERNATIONAL TRADE MOVING
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N Doing Business in Denmark E D
ABOUT THIS GUIDE
This guide aims to provide a route map of the way ahead, together with signposts to other sources of help.
The main objective of this Doing Business in Denmark Guide is to provide you with basic knowledge about Denmark; an overview of its economy, business culture, potential opportunities and to identify the main issues associated with initial research, market entry, risk management and cultural and language issues.
We do not pretend to provide all the answers in the guide, but novice exporters in particular will find it a useful starting point. Further assistance is available from the Department for International Trade (DIT) team in Denmark. Full contact details are available in this guide.
To help your business succeed in Denmark we have carefully selected a variety of essential service providers as ‘Market Experts’.
This guide is available in four formats:
• website (www. Denmark .DoingBusinessGuide.co.uk) • a ‘free’ downloadable 'mobile device-friendly’ app • this full colour hard-copy brochure • PDF download/e-flipbook (please see the website for more details) Doing Business in Denmark Guide Team; Project Director: Craig Smith Managing Editors: Olivia Taylor / Brian Underwood Sponsorship Manager: James Clowes Creative Manager: Paul King / Claire King Creative Consultants: Twistedgifted www.twistedgifted.co.uk
Printed using materials from sustainable sources www. Denmark .Doing Business Guide .co.uk
‘Doing Business in Denmark Guide’ published in the UK by International Market Advisor Ltd. © 2016 International Market Advisor Ltd (unless otherwise stated). All rights reserved. Contains public sector information licensed under the Open Government Licence v3.0.
23 t n o r f r e t a w n v a h y N
DENMARK
Denmark is a wealthy, educated and open economy, receptive to UK products and investments. w w w . D e n m a r k . D o i n g B u s i n e s s G u i d e . c o . u k 2 5 WHY DENMARK K R A M
N Doing Business in Denmark E D
Summary
Area: Fiscal balance (of GDP): 42,916 sq km -1.7%
Population: Current account balance (of GDP): 5.7 million 7%
Population growth rate (change): Current account balance: 0.4% US$ 20.7 billion
Population density (people per sq km): Exports of goods to UK: 133.8 £3,512 million
Urban population: Imports of goods from UK: 87.7% £2,334 million
Capital city: Inward direct investment flow: Copenhagen (pop 1.2 million) US$ 3.7 billion
Other major cities: Exports & imports as share of GDP: Aarhus (325,000); Odense (200,000) 100.4%
Official language: [Source: mostly FCO Economics Unit] Danish
International organisation participation: ADB Currency: (nonregional member), AfDB (nonregional Danish Krone member), Arctic Council, Australia Group, BIS, CBSS, CD, CE, CERN, EAPC, EBRD, EIB, EITI Nominal GDP: (implementing country), ESA, EU, FAO, FATF, US$ 295.1 billion G-9, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICRM, IDA, IEA, IFAD, IFC, IFRCS, Real annual GDP Growth: IGAD (partners), IHO, ILO, IMF, IMO, IMSO, 1% Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MINUSMA, NATO, NC, NEA, NIB, NSG, OAS (observer), OECD, OPCW, GDP per capita: OSCE, Paris Club, PCA, Schengen Convention, US$ 52,138.9 UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNMIL, UNMISS, UNRWA, UNTSO, UPU, Annual inflation rate: WCO, WHO, WIPO, WMO, WTO, ZC 0.5% [Source: CIA World Factbook] Unemployment rate: 6.2%
Visit the Website and download the free Mobile App Why Denmark? politics. Since 1909, no single party has had the majority in Parliament. Background [Source: Ministry of Foreign Affairs of Denmark]
Geography Denmark is a Nordic country located in Since 28 th June 2015, the Government has northern Europe, located southwest of consisted of the Liberal Party (Venstre, lit. Sweden and due south of Norway and is “left party”) – actually a conservative-liberal bordered by the German state (and former party in coalition with other right-of-centre possession) Schleswig-Holstein to the parties – with Lars Løkke Rasmussen the south, on Denmark's only land border, Prime Minister. 68 km (42 miles) long. Greenland, the Faroes and the German Geographically, Denmark is relatively flat minority with no mountains. Its average height When one talks about Denmark, they above sea level is only 31 metres (101 ft) normally refer to Jutland, Zealand, Funen and the highest point is Mollehoj, at 170.86 and the islands scattered around the metres (560.6 ft) in the middle of the Danish waters. Yet the Faroe Islands in the Jutland Peninsula. North Atlantic and Greenland (which is part of the North American continent) also The coastline includes many small fjords, belong to the Kingdom of Denmark but with Limfjord the largest, and over 440 have autonomous self-rule. named islands; Zealand is the largest, followed by Funen, Lolland, Falster and Culturally and linguistically speaking, the Bornholm, an island in the Baltic Sea south northern and the southern parts of the of Sweden. kingdom are very different, which is also due to the fact that around 15,000 people The country has a number of rivers, who belong to the German minority live including the Guden, Odense, Skjern, north of the Danish-German Border in Stora and Susa, and the Vida flowing North Schleswig. along its southern border with Germany. The longest river in Denmark is the Guden The Faroe Islands and Greenland have at 160 km (99 miles) in length. been parts of the Danish Realm since the 18 th century. Due to their special status Government overview nationally, historically and geographically, The political system of Denmark is that these parts of the realm have an extensive of a multi-party structure, where several type of self-government and have assumed parties can be represented in Parliament legislative and administrative responsibility at any one time. Danish governments in a substantial number of fields. are often characterised by minority administrations, aided with the help of one or more supporting parties. This means that Danish politics is based on consensus
www. Denmark .Doing Business Guide .co.uk 27 K R A M N E D
The Faroe Islands’ Home Rule was of charge. This means that for instance the established in 1948 and Greenland’s Danish health and educational systems Home Rule was established in 1979. In are free. The Danish welfare model is 2005, a new self-government arrangement subsidised by the state, and as a result came into force in the Faroe Islands, and Denmark has one of the highest taxation in 2009 a self-government arrangement for levels in the world. Greenland replaced the Greenland Home Rule Arrangement. Education in Denmark High quality education at all levels is The German minority in North Schleswig essential to ensure competitiveness in maintains its own schools and a wide today’s globalised world. This is why spectrum of social and cultural institutions education is a key priority in Denmark. and serves as a vital bridge between the With their high academic standards German and Danish cultures. To ensure combined with innovative learning further protection of the rights of the approaches, the Danish institutions are German minority in Southern Denmark, preparing their students to play an active Denmark has become party to the role in a globalised, knowledge-based Framework Convention for the Protection society. of National Minorities (entered into force in Denmark on 1 st February 1998) and the Danish labour market European Charter for Regional or Minority When people talk about the Danish labour Languages (entered into force in Denmark market they often use the term “flexicurity” on 1 st January 2001). to describe the model which is successfully managing the challenges of globalisation As Greenland and the Faroe Islands are and securing steady economic growth and outside of direct EU jurisdiction, there are employment. differences relating to employment and importing goods. Contact the Department Studies show that Danes are positive for International Trade (DIT) team in about globalisation and do not fear losing Denmark for more information on doing their jobs. Rather they seek opportunities business in Greenland and the Faroe for new and better jobs. This is partly Islands. See the ‘Resources’ section later ascribed to the flexicurity model which in this guide. promotes adaptability of employees and enterprises. [Source: Ministry of Foreign Affairs of Denmark/DIT] Flexicurity is a compound of flexibility and security. The Danish model has a third element – active labour market policy – Danish welfare system and together these elements comprise The basic principle of the Danish the golden triangle of flexicurity. welfare system, often referred to as the Scandinavian welfare model, is that all One side of the triangle is flexible rules for citizens have equal rights to social security. hiring and firing, which make it easy for the Within the Danish welfare system, a number employers to dismiss employees during of services are available to citizens, free downturns and hire new staff when things Visit the Website and download the free Mobile App Doing Business in Denmark
improve. About 25% of Danish private principles of flexicurity in the EU, resulting sector workers change jobs each year. in the presentation of the communication The second side of the triangle is "Towards common principles of flexicurity" unemployment security in the form of by the European Commission in mid-2007. a guarantee for a legally specified The European Council subsequently unemployment benefit at a relatively high adopted a set of Council Conclusions on level – up to 90% for the lowest paid flexicurity in December 2007, by which the workers. common principles are available to guide EU member states when implementing The third side of the triangle is the active reforms in order to meet the aims of the labour market policy. An effective system Lisbon Strategy of Growth and Jobs. is in place to offer guidance, a job or education to all unemployed. Denmark [Source: Ministry of Foreign Affairs of Denmark] spends approx 1.5% of its GDP on active labour market policy. Corporate social responsibility (CSR) The aim of flexicurity is to promote Denmark is among the international employment security over job security. frontrunners when it comes to responsible The model has the dual advantages of growth. Strong collaboration between ensuring employers have a flexible labour companies and employees is part of force while employees enjoy the safety net Danish culture and tradition, and in many of an unemployment benefit system and areas Danish legislation is among the an active employment policy. toughest in the world. Often Danish rules are more rigorous than the requirements The Danish model rests on a century-long and targets defined in international tradition of social dialogue and negotiation agreements. This applies, for example, among the social partners. The development to Danish legislation relating to working of the labour market owes much to the environment, equal opportunities, social Danish collective bargaining model, which inclusion, and environmental protection. has ensured extensive worker protection while taking changing production and In addition, supporting the corporate social market conditions into account. The responsibility initiatives of Danish companies organisation rate for workers in Denmark has been given high priority by Danish is approx 75%. authorities. Since 2009, Danish legislation has required listed and large companies in The Danish model is supported by the Denmark to report on their corporate social social partners headed by the two main responsibility efforts in their annual reports. organisations – The Danish Confederation of Trade Unions (LO) and The Confederation of Danish Employers (DA).
The organisations, in cooperation with the Ministry of Employment, have also jointly contributed to the development of common
www. Denmark .Doing Business Guide .co.uk 29 K R A M N E D
Strengths of the market The aim is to inspire companies to take an active position on corporate social responsibility and to communicate this Strengths of the Danish market include: position. The statutory requirement is part of the Danish Government's action plan • easy access to northern European for corporate social responsibility and is markets via Copenhagen hub airport intended to help improve the international and high quality motorway network competitiveness of Danish trade and industry. See the Danish Business • well educated population with a high Authority site: www.csrgov.dk/danish proportion of university graduates _responsibility for further information. • advanced telecommunication [Source: Danish Business Authority] infrastructure
• takes only 24 hours to establish a Economic overview company online Denmark is a wealthy, educated and open economy, receptive to UK products and Read the practical guide to doing business investments. Danes are sophisticated in Europe, at: www.europa.eu/youreurope/ buyers with a good reputation for paying business/index_en.htm suppliers on time.
Benefits of Denmark for UK businesses In addition:
st • In 2015 Denmark was ranked 1 Benefits for UK businesses exporting to out of 168 countries in Transparency Denmark include: International's latest corruption th perception index (the UK ranked 14 ): • prosperous economy www.transparency.org/cpi2015/ results#results-table • gateway to the Scandinavian and rd Baltic countries • Denmark is ranked 3 out of 190 countries, and the top location in • close to the growing economies of Europe, in the World Bank’s 2016 Germany, Sweden and Poland Ease of Doing Business index (the UK th ranked 7 ): www.doingbusiness.org • English widely spoken /rankings
• The World Economic Forum’s Global [Source: Department for International Trade Competitiveness report ranks (DIT)] th Denmark 12 out of 138 for 2016-17 th (the UK is ranked 7 ): www.reports. weforum.org/ global-competitiveness- index/competitiveness-rankings
Visit the Website and download the free Mobile App Doing Business in Denmark
Contact a DIT export adviser at: • fuels and related minerals www.contactus.trade.gov.uk/office-finder for a free consultation if you are interested • machinery in exporting to Denmark. • manufactured goods Contact UK Export Finance (UKEF) about trade finance and insurance cover for UK • pharmaceuticals companies. You can also check the current UKEF cover position for Denmark. See: [Source: Department for International Trade www.gov.uk/guidance/country-cover- (DIT)] policy-and-indicators#denmark Free Trade Agreements (FTAs) [Source: Department for International Trade (DIT)/UKEF/gov.uk] Denmark is a member of the EU and the World Trade Organization (WTO). This Growth potential means that goods manufactured in the UK are exempt from import duties. The Danish economy grew at over 1.8% in 2015 and is forecast to grow around 2.1% SOLVIT is a free service provided by the in 2016. national administration in each EU country and in Iceland, Liechtenstein and Norway, Denmark is one of the EU’s best performing providing solutions to problems with your economies. It has: EU rights. Contact the SOLVIT team at: www.ec.europa.eu/solvit/index_en.htm • low inflation if you have market access issues relating to the operation of the Single Market. • strong growth [Source: Department for International Trade (DIT)] • relatively low unemployment at 6.2%
[Source: Department for International Trade (DIT)]
The UK’s main exports to Denmark are:
• food
• beverages
• animal products
• energy
www. Denmark .Doing Business Guide .co.uk 31 We take your business personally
PRACTICE AREAS Who we are:
0 BANKING AND FINANCE 0 CAPITAL MARKETS Lundgrens is one of Denmark's leading law firms with more than 0 COMPETITION, PUBLIC 75 lawyers based in our office in Copenhagen. Our clients include PROCUREMENT AND STATE AID companies and organisations in Denmark and around the world. 0 CORPORATE AND COMMERCIAL Lundgrens is constantly aiming to meet the market's demand for 0 DATA PROTECTION accessibility, speed and business understanding. We get to the core 0 DISPUTE RESOLUTION 0 EMPLOYMENT AND LABOUR LAW of the commercial issues our clients face and make it our business 0 ENVIRONMENT AND to understand their industries, their practical challenges and their ADMINISTRATIVE LAW principal goals. 0 INSOLVENCY AND RESTRUCTURING 0 INSURANCE AND DAMAGES 0 INTELLECTUAL PROPERTY .IP/ Lundgrens sees legal advice as one of the tools to achieve 0 IT successful business results and we are a very aware that our clients 0 M&A are not consulting us only for narrow legal advice but rather advice 0 PUBLIC LAW that in a broader perspective benefits the overall business case of 0 REAL ESTATE our clients. We work according to a key account principle, where 0 TAX the client is linked to one partner, who coordinates the tasks between the specialists who are best qualified to solve any given matter. Our partner-led approach, experience and versatility guarantee our clients a first class service, embracing both technical quality and commercial awareness. Our firm is recognised for the level of expertise we offer in each of our specialist areas. The fol lowing will provide you with a brief overview of the kind of ad vice we deliver and the range of issues we tackle for our clients:
Banking and Finance Corporate and Commercial Our dedicated banking team provides expert legal Our lawyers are specialised in commercial agreements advice to a wide range of domestic and international and assist our clients with the review, drafting, banks, mezzanine providers and other lenders, negotiation and management of contracts, as well sponsors, originators, Issuers and corporates on all as providing strategic advice regarding business aspects of banking and finance law as well as on operations. The group draws on experience from a bond issues, regulatory capital issues and other wide range of industry sectors and has a strong aspects of debt capital markets. commercial focus. Our legal expertise includes national and international contract law, the purchase We specialise and have substantial experience in of goods, standard market agreements, sector-specific complex cross-border banking and debt capital mar - agreements and issues regarding various forms kets transactions, and our team is regularly of distribution (for example, agents and retail involved in multijurisdictional finance transactions. distributors).
Capital Markets Data Protection Within public M&A we advise bidders, target Compliance with the requirements of data protection companies, major shareholders and financial advisors. legislation has in recent years gained increasing focus Our Equity Capital Markets work includes advising and importance for businesses, especially due to issuers, major shareholders and financial advisors increased customer awareness and the expected on initial public offerings (IPOs), rights issues, adoption of a new EU regulation implementing convertible and exchangeable issues, private place - increased requirements to businesses and introducing ments and accelerated book building transactions. severe sanctions for non-compliance. We also regularly advise on corporate governance issues, incentive plans, information and insider issues Lundgrens’ data protection team, possessing CIPP/E and other securities regulatory matters (including t certified competencies, advices and offers strategic he AIFMD). counselling and assistance in all aspects of the complex regulation of collecting, processing and Competition, Public Procurement and State Aid disclosure of personal data. Our competition team provides pragmatic advice and effective representation on all aspects of EU Dispute Resolution and Danish competition law. We have expertise Lundgrens’ dispute resolution practice represent in advising on the competition and regulatory clients in any and all matters arising from commercial implications of mergers and acquisitions, as well as disputes, such as early dispute assessment, arbitration, the full range of behavioural competition matters litigation, mediation and other alternative dispute (abuse of dominance, cartels and other restrictive resolution. agreements). We are experienced in competition litigation before the Danish courts. We also advise We represent clients in disputes covering many on utilities regulation and other EU law matters, commercial sectors, including fraud and corporate such as state aid and public procurement. insolvency, M&A, shareholder disputes, professional negligence, insurance, administrative and public law, intellectual property and real property.
LUNDGRENS.DK Employment and Labour Law Intellectual Property (IP) Lundgrens is a recognised leading law firm within Lundgrens’ experienced and dedicated IP team employment and labour law and has many years of advises on all IP and Life Science matters. We act experience in assisting international groups, listed for both Danish and international clients assisting companies, small and medium-sized companies, on (i) establishment and maintenance of portfolios executives, public authorities, organisations and other of IP rights, (ii) negotiation and preparation of all relevant market players in all employment law matters. types of IP contracts, such as assignment agreements, licence agreements and research and development Environment and Administrative Law agreements, (iii) strategic IP projects, such as Lundgrens' environmental and administrative law planning and implementing IP risk management team consists of highly specialised legal advisors with procedures, and (iv) handling of all types of conflicts extensive knowledge and understanding of the public pertaining to IP or rules on marketing practices and sector and its legal matters. The environmental and regulatory rules. On an operational level, our IP administrative law team advises municipalities, other practice is closely integrated with Lundgrens’ other public authorities, and private and public businesses top quality legal specialist practices, including IT, on all fields of environmental law, and on general Tax, Competition, Employment and Mergers & administrative law and municipal law issues. The Acquisitions. team is highly experienced in handling complaint cases before the Danish Environmental Board of IT Appeal and the Danish State Administration. Our IT law team advises and offers strategic sparring and assistance within all areas of IT law, outsourcing Insolvency and Restructuring and complex contractual matters. We assist We advise lenders and equity investors at all levels of companies in customer and supplier matters. Our the capital structure as well as companies in financial clients are Danish and international companies from difficulties, board members and shareholders of such various lines of businesses/industries, including the companies, trustees in bankruptcy, liquidators and financial sector, high-tech companies, IT companies, government institutions. The insolvency and telecommunication, industry, energy and distri - restructuring group work closely with the firm’s bution, infrastructure, transportation and the health other specialists in related practice areas including sector. Banking and Finance, Corporate and Commercial, Dispute Resolution, Employment and labour law, M&A Mergers and Acquisitions, Real Estate, and Tax. Lundgrens’ M&A team is led by highly experienced attorneys who have a long and solid track record of Insurance and Damages high profile transactions in the Danish and interna - Lundgrens advises Danish and international companies, tional M&A market. Our M&A group provides including insurance companies, on all aspects of solution-driven and value adding advisory services insurance and damages. We specialise in litigation, with a strong focus on implementation and usability. arbitration and cases before the Danish Accountants' We combine our legal knowledge with our general Disciplinary Board. In addition, we provide claims commercial experience to achieve the best overall handling for Danish insurance companies. Our i result for our clients. nsurance and damages law group is a strong team of attorneys with extensive experience from the legal Our clients include Danish and foreign private profession, insurance companies and the public sector. equity funds, companies and corporate finance
LUNDGRENS.DK We take your business personally houses and have extensive experience in crossborder Tax transactions. We advise on a full range of deal struc - Lundgrens' tax group advises on all aspects of tures from public takeovers (together with our capital Danish and international taxation of companies and markets team) and buy-outs to divestments, mergers on all VAT and fiscal matters. We work with a broad and demergers, drawing on the strength of our range of clients in the leading growth sectors, from corporate finance and private equity specialisms long-established global brands and large pension within the team. funds to entrepreneurs, all united by the same objective of facing the legal, financial and Public Law reputational challenges of tax with clarity and Lundgrens assists regions, municipalities and purpose. other public authorities, institutions, foundations, associations and many private companies. We assist Widely considered one of Denmark’s leading tax in settling public law issues and in initiating and practices, we provide our clients with consistent, establishing public-private cooperation on business innovative and commercial tax advice with our core promotion, research and development projects, strength within outbound and inbound investments, technology transfers, network, clusters etc. the private equity industry, M&A structuring and tax diligence, employee and management incentive The organisation of public-private cooperation schemes, VAT, reconstruction, succession and real includes the involvement of all relevant players, such estate transactions. Furthermore, the Lundgrens tax as regions, municipalities, knowledge institutions, group advises on all aspects of Danish tax matters public and private organisations and enterprises, and concerning individual tax, including expatriation insight in the various types of regional/municipal advice (both in- and out-bound), tax litigation (both and private company formations, network, administrative and at the courts) and binding rulings. associations, foundations, joint ventures, consortia, project and contractual partnerships etc. Lundgrens has established contacts with a significant number of relevant players in public and private markets.
Real Estate Our real estate team comprises experienced and market leading individuals with in-depth under - standing of commercial real estate, construction and real estate financing. The team has comprehensive capabilities within structuring, funding and executing real estate transactions in the most commercially viable way. We advise on all aspects of construction (contentious and non-contentious) and project development to key clients of the industry, Contact details: including eminent retail and shopping centre Lundgrens Law firm P/S. Tuborg Havnevej 19, developers. DK-2900 Hellerup, Denmark Tel: +45 3525 2535 Visit the website: www.lundgrens.dk e n i l y k s n e g a h n e p o C
DENMARK
Taking part in overseas exhibitions is an effective way for you to test markets, attract customers, appoint agents or distributors and make sales. w w w . D e n m a r k . D o i n g B u s i n e s s G u i d e . c o . u k 3 7 RESEARCHING THE MARKET K R A M
N Doing Business in Denmark E D
Researching the market Your Company
Consultation and bespoke research • What are the unique selling points for your product or service? Taking a strategic approach • Do you know if there is a market for British companies are advised to undertake your product in Denmark? as much market research and planning as possible. Doing business with Denmark • Do you know if you can be competitive can be challenging, but taking a strategic in Denmark? approach is the key to making the process manageable. The first step is to spend • Are your competitors already in some time thinking about your company's Denmark? If so, what are they doing? Denmark objectives. • Do you have the time and resources to The questions listed below should help handle the demands of communication, you to focus your thoughts. Your answers travel, product delivery and after-sales to them will highlight areas for further service? research and also suggest a way forward that is right for your company. You may Your Knowledge then want to use this as a basis for developing a formal Denmark strategy, • Do you know how to secure payment although this may not be necessary or for your products or service? appropriate for all companies: • Do you know where in Denmark you should start? Your Aims • Do you know how to locate and • Do you wish to buy from Denmark, sell screen potential partners, agents or to Denmark or both? distributors? • Do you wish to establish your own • Have you carried out any Denmark- company presence in Denmark, for specific customer segmentation, and example through a representative do you know how to best reach office, limited liability company or joint potential customers in-market? stock company? It is unlikely that you will have the answers • Do you need to be involved in to all these questions at the outset and Denmark at all? these “knowledge gaps” should form the basis for further research and investigation. • Do you see Denmark as part of a Some of these questions will require wider plan including other EU or quantitative research in your sector, while Scandinavian markets? others involve more contextual and cultural considerations.
Visit the Website and download the free Mobile App Talking to other people in your industry and You can: regularly visiting Denmark will give you access to the most current advice, and • read guidance for new, occasional and such experience can often lead to new frequent exporters insights and form the basis for further research. You will be able to find out • find out about services offered by some free information from carrying GREAT partners out desk research. • use the 'selling online overseas' tool Help available for you to find the best marketplaces to showcase your products online – The UK Department for International Trade taking advantage of special deals (DIT) provides tailored support packages negotiated by the government for UK for companies who are: businesses and find out more about the government’s e-exporting • first time exporters (FTEs) programme
• small and medium-sized enterprises • apply for overseas export opportunities (SMEs) for your products or services
• medium-sized businesses (MSBs) • sign up to the 'Find a buyer' service, which launches fully in early 2017 and See: www.gov.uk/government/organisa - will allow you to showcase your tions/department-for-international- products to overseas buyers trade/about/about-our-services for further information. You can also:
The following details are a selection • search for events, trade fairs, missions from the website: and webinars relevant to your sector or overseas markets Business Opportunities www.GREAT.gov.uk is the government’s • apply for a trade show access grant to single destination for information on UK attend an overseas event trade, investment, tourism and education. It has tailored support and advice for you • contact a trade adviser in your area on how to start exporting or increase the amount of goods and services you sell The following pages give more details overseas. about a selection of the above.
www. Denmark .Doing Business Guide .co.uk 39 K R A M N E D
Selling online overseas international trade advice and support, Use this service to help choose a suitable and access to DIT’s global network of online marketplace to sell your products contacts. See: www.contactus.ukti. overseas. gov.uk/office-finder
You can: • meet a digital trade adviser where relevant, to help you develop and • find major online marketplaces in other implement an international online countries strategy
• see whether these online market • set up on e-marketplaces quickly and places are suitable to sell your also identify new e-marketplaces products around the world
• discover how to list your products on • access better than commercial rates to an online marketplace list on some e-marketplaces, including lower commission fees and ‘try for • get information about costs of listing free’ periods. See: www.gov.uk/ on the marketplace and how logistics guidance/e-exporting#preferentialrates are fulfilled • access the ‘E-Expertise Bank’, a • access special terms negotiated by the community of over 175 B2B/B2C UK Government service providers offering free advice. See: www.gov.uk/guidance/e- E-Exporting Programme exporting#eexpertise DIT’s E-Exporting Programme aims to help UK companies get their brands to • join DIT’s mailing list for opportunities millions of global consumers and grow to hear from industry experts, network their business through online exports. with like-minded individuals and find DIT’s E-Exporting Programme helps out about e-commerce trends UK companies who are: Find a buyer service • new to selling online Launching early in 2017, this is the place to let international buyers know all about • already selling online, but need help your business – highlight the vital facts with specific issues about your company to give buyers confidence to get in touch; show off your • experienced in online sales, but are company's experience and outstanding looking to sell on multiple platforms projects to give potential buyers more globally insight; get emails from international buyers straight to your sales or business The programme enables you to: development teams; see relevant government-supported export • arrange a free meeting through development events where overseas your local DIT office to get expert buyers will be attending. Visit the Website and download the free Mobile App Doing Business in Denmark
Events and missions charges before you sign up. Contact your Taking part in overseas exhibitions is local DIT International Trade Advisor for an effective way for you to test markets, further information about the programme, attract customers, appoint agents or at: www.contact-us.export.great.gov.uk/ distributors and make sales. DIT’s selling_online_overseas Tradeshow Access Programme (TAP) provides grant support for eligible SMEs DIT Events Portal to attend trade shows overseas. The DIT Events Portal provides a single calendar view of all DIT events and The grants are based around the missions, and has been developed to Tradeshow Access Programme Calendar provide companies with more detailed of Supported Events 2016-2017, with an information on each event in order to help appropriate accredited Trade Challenge them decide on the most appropriate event Partner leading the UK’s involvement to attend. The calendar can be filtered and at each event. Businesses usually take searched by sector and/or market. part as a group – a great advantage for inexperienced businesses – and usually There are also detailed events websites led by the Trade Challenge Partner for that which include more information about the trade show. event and also allow users to register for an event. DIT can offer grants to eligible businesses taking part in the programme. The grants The DIT Events Portal is your central hub must be matched by the business’s own for business and networking opportunities. expenditure on direct exhibiting costs, for Search for future events and missions, example: register online and network with fellow delegates. See: www.events.trade.gov.uk • exhibition space costs Webinars • stand costs – including design, The DIT Webinar service runs hundreds of construction and stand dressing free hour-long internet events covering topics, sectors and countries around the In some cases grants may also be agreed world, helping you shape your export plan. to match against direct conference costs where the purpose of attending is to These events allow you to interact with the promote the business, for example: experts in specific sectors and countries and allow you to ask questions to enhance • conference fees your knowledge
• cost of preparing conference To see upcoming DIT Webinars, visit: promotional material www.events.trade.gov.uk and search for webinars. Grant levels may be subject to change. The trade challenge partner will confirm the level of grant available and inform you about any service or management fee www. Denmark .Doing Business Guide .co.uk 41 Getting UK businesses ready to sell overseas
What is Open to Export?
Open to Export is the online community helping UK businesses get ready to sell overseas. Backed by Government and business, we are a not for profit social enterprise dedicated to helping UK companies grow through export.
For more information visit opentoexport.com Doing Business in Denmark
Overseas Market Introduction Service They can provide a range of Denmark- You can also commission an Overseas specific services for you, including the Market Introduction Service (OMIS) to provision of market information, validated help you enter or expand your business lists of agents/potential partners, key in Denmark. Under this service, the market players or potential customers; Embassy’s trade and investment advisers, establishing interest from such contacts; who have wide local experience and and arranging in-market appointments for knowledge, can identify business partners you. In addition, they can also organise and provide the support and advice most events for you to meet contacts in Denmark, relevant to your company's specific or to promote your company and your needs in Denmark. Contact your local products/services. International Trade Adviser for more information, at: www.contactus.export. In addition, read the EU’s practical guide to great.gov.uk/selling_online_overseas doing business in Europe: www.europa.eu/youreurope/business/index Open to Export _en.htm Open to Export is DIT’s free, online advice service for UK companies looking to grow [Source: Department for International Trade internationally. It offers free information and (DIT)] support on anything to do with exporting and hosts online discussions via its forum, webinars and social media where businesses can ask any export question, and learn from each other.
Open to Export can be accessed at: www.opentoexport.com
In-market support If you already export, and have decided Denmark is part of your business strategy, you are advised to contact the DIT team at the British Embassy in Copenhagen prior to your visit to discuss your objectives and what help you may need (see the ‘Resources’ section at the end of this guide).
www. Denmark .Doing Business Guide .co.uk 43 WSorhkineg elxtclousinvelys w itDh inteernnatimonallay orpek rating businesses
Sheltons – who are we? Sheltons Denmark – our UK focus
Sheltons is a highly professional and well- We have a very strong focus on UK-based established independent accounting, advisory, businesses operating in Denmark. This has and educational firm - working exclusively been a major influence in our decision to open with internationally operating businesses. an office in London. The London office will be We have offices in Australia, Denmark, established in the second half of 2016. Malta and (soon) the United Kingdom. Sheltons was established by Ned Shelton We are a multinational team including in 1994. Since the early days, Sheltons has individuals from Denmark, the UK and delivered quality services to international elsewhere. Andrew Woods, who has headed clients, covering accounting, taxation, up Sheltons Denmark for over three years, administration, law and general business is himself originally from the UK. advice; since 1997 we have conducted conferences and courses on international For a Danish firm we at Sheltons Denmark tax throughout the world – and we have just are very familiar with the UK, from the tax and launched a specialist international expat company law aspects through to business relocation service. knowledge, business culture, history, geography and politics. Our primary services can be summarised as follows. We are very frequently in the UK, visiting clients and potential clients in all parts of Accounting and business advisory the UK. services: Services cover from basic payroll administration and bookkeeping to Our independence advanced accounting, preparing full annual reports and providing business advice. We refuse to become a member of any accounting firm network, and indeed have Tax services: We have extensive not been a member of any such network since experience providing local advice, 1997. This facilitates a smooth and stress-free multi-jurisdictional tax advice and advice working relationship with our UK-based clients’ on tax treaty issues and cross-border tax accountants. efficient structuring. Sheltons Denmark – our focus and our size, International expat relocation services: and our efficiency We assist the employer with the relocation of their valuable staff. We are a small, independent firm, with more than 20 years’ experience working only with International Tax Training: Sheltons-SITTI internationally operating businesses – indeed delivers a variety of international taxation working exclusively with inbound investors into courses on an ‘in-house’ as well as an Denmark. Accordingly, we are able to deliver ‘open’ course basis - in locations through quality services exceptionally efficiently. out the world Sheltons Denmark – our services Why Sheltons Denmark?
Sheltons Denmark focuses on providing a wide We are highly specialised and skilled – we range of highly professional accounting, tax, work exclusively with foreign-based businesses administration, business advisory and expat doing business in or with Denmark relocation services to foreign companies doing business in or with Denmark, and to individuals We are very focused on UK-based businesses moving to Denmark. coming in to Denmark
Our primary services are outlined below. We are a ‘one-stop shop’ providing a wide range of tax, legal, administrative, accounting Accounting services and business advice and expat relocation services focused on this target group Full range of tax consulting and compliance services, from extensive We have an in-depth knowledge of the advice on complex international tax issues issues facing to the preparation of tax returns for staff Exporters to Denmark VAT advice and administration Non-Danish companies employing staff Company law advice and company in Denmark secretarial services Non-Danish companies with or setting Expat relocation services, covering from up physical operations in Denmark assisting with visas, opening bank accounts and finding accommodation We are small, sharp and efficient through to advising on and recommending Danish language courses, cultural groups and schools See www.SheltonsGroup.com/Denmark for further information and for examples of client Payroll services including tax advice to cases. employers and employees
Employment law, visas and related
Permanent establishment issues, taxation Further information of employees, responsibilities as employer, the need to register a branch, etc. Sheltons Denmark Omogade 8, 2nd floor Registration of branches of foreign DK-2100 Copenhagen companies in Denmark as well as Denmark subsidiaries www.SheltonsGroup.com Periodic bookkeeping and financial [email protected] reporting +45 45 46 10 88
Year-end compliance and reporting under Andrew Woods, Director, IFRS or Local GAAP. [email protected]
© Copyright Sheltons 2016 All rights reserved. The information contained in the leaflet may be shared, quoted or otherwise disseminated and/or reproduced provided that due reference to Sheltons is made and its copyright is not violated. DENMARK
You do not need a visa to enter Denmark. As a British passport holder you can stay as a visitor for up to three months. For longer stays, you should apply for a residence permit. w w w . D e n m a r k . D o i n g B u s i n e s s G u i d e . c o . u k 4 7 GETTING HERE AND ADVICE ABOUT YOUR STAY K R A M
N Doing Business in Denmark E D
Getting here and advice about your stay Greenland and the Faroes are not members of the European Union. You do not need Entry requirements a visa to enter for tourism, but you should get a work and residence permit before entry if you intend to live and work there. Border controls th On 4 January 2016, the Danish authorities UK emergency travel documents increased border controls at the land border UK emergency travel documents are with Germany. If you are travelling to accepted for entry, airside transit and exit Denmark from Germany using the land from Denmark. Your emergency travel border, you should make sure you have document must be valid for the proposed your passport with you. duration of your stay. th On 4 January 2016 the Swedish authorities Travel advice announced additional immigration controls when entering Sweden, including when travelling from Denmark to Sweden. This Local travel may cause delays to your journey and you Public transport is generally of a very high should make sure you carry a passport or standard. You can buy bus, train and metro other valid identity document with you if tickets at train station kiosks and some you plan to travel from Denmark to Sweden. supermarkets. See: www.dsb.dk/kampagner/id-kontrol/ id-inspection There are outlets across many Danish cities that hire out quality bicycles for a Passport validity reasonable fee. Ferries are available to Your passport should be valid for the transport you to Denmark’s many islands. proposed duration of your stay; you do not need any additional period of validity on Road travel your passport beyond this. Road conditions in Denmark are good and driving standards are fairly high. In 2013 The Danish authorities have confirmed there were 192 road deaths in Denmark (source: UK Department for Transport) they will accept British passports extended . This by 12 months by British Embassies and equates to 3.4 road deaths per 100,000 Consulates under additional measures of population and compares to the UK put in place in mid-2014. average of 2.8 road deaths per 100,000 of population for the same year. Visas You do not need a visa to enter Denmark. Always wear seatbelts. You must drive with As a British passport holder you can stay dipped headlights at all times and they as a visitor for up to three months. For should be masked with special European longer stays, you should apply for a opaque material available from most residence permit. garages in the UK and Ireland. It is now law in Denmark to indicate before changing lanes on a motorway. You should carry a warning triangle in case of breakdowns.
Visit the Website and download the free Mobile App d o
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Cyclists often have the right of way. It is instances of violence between biker gangs I particularly important that you check cycle and minority groups, which have included lanes before turning right. See the European stabbings and shootings. While these Commission, AA and RAC guides on incidents are mainly gang related and driving in Denmark for more information. localised you should take extra care in these areas, particularly late at night. Other travel There has recently been considerable Do not get involved with drugs of any kind. disruption to rail, road and ferry transport Although Denmark is generally a liberal between Denmark and Germany. If you society, drug use is illegal and laws are are travelling by road, train or ferry, allow enforced. You will not be treated more additional time, be vigilant and follow the leniently than residents. Drug dealers can instructions of local authorities. Check with receive heavy sentences. Anyone found in local media, your carrier, ferry operator possession of illegal drugs deemed to be Scandlines at: www.scandlines.com and for personal consumption will often receive Danish State Railways (DSB) at: a police fine of DKK 500. www.dsb.dk/om-dsb/in-english for more information. Whale meat is available in The Faroe Islands but importing it into the UK/EU is illegal Safety and security under the Convention on International Trade in Endangered Species. Any Crime importation of whale meat to the UK/EU Crime levels are generally low, but the will result in seizure of the goods, possibly tourist season attracts pickpockets and a fine of up to £5,000 and a custodial bag-snatchers in crowded areas around sentence. Copenhagen, especially at the central station, Nørreport Station and on the main shopping street called Strøget. Keep your personal belongings, including passports and money, secure. You should also keep an eye on luggage, including in the overhead baggage compartment, when travelling on trains to and from the airport.
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n u n a o a x t e s t y l t l Doing Business in Denmark
Travel insurance The UK Government takes a very serious Take out comprehensive travel and medical view on bribery and corruption, and any insurance before you travel. See FCO UK company considered to be involved in Foreign Travel Insurance: www.gov.uk corrupt practices will feel the full weight of /guidance/foreign-travel-insurance the law bear down on them under the UK Bribery Act 2010. The UK Department for [Source: FCO Travel advice] Business, Energy & Industrial Strategy (BEIS) has published a number of documents on their website. See: FCO Travel Advice www.gov.uk/government/organisations/ If you are travelling to Denmark for business, department-for-business-energy-and- the Foreign & Commonwealth Office industrial-strategy for assistance in this (FCO) website has travel advice to help area. you prepare for your visits overseas and to stay safe and secure while you are there. British nationals have been arrested for For advice please visit the FCO Travel possessing counterfeit currency. Avoid section pages on the gov.uk website: changing money anywhere other than www.gov.uk/foreign-travel-advice/denmark banks or legitimate bureaux de change.
[Source: BEIS, FCO Travel advice/gov.uk] Bribery and corruption
Bribery is illegal. It is an offence for British nationals or someone who is ordinarily resident in the UK, a body incorporated in the UK or a Scottish partnership, to bribe anywhere in the world. In addition, a commercial organisation carrying on a business in the UK can be liable for the conduct of a person who is neither a UK national nor resident in the UK or a body incorporated or formed in the UK. In this case it does not matter whether the acts or omissions which form part of the offence take place in the UK or elsewhere.
www. Denmark .Doing Business Guide .co.uk 51 Global relocation for a changing world Team Relocations
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Denmark currently has one of the largest hospital infrastructure projects in Europe. An estimated £4.5 billion will be spent from 2013 to 2020 on new super hospitals countrywide. e r a u q s n w o t d n a l l a H y t i C n e g a h n e p o C w w w . D e n m a r k . D o i n g B u s i n e s s G u i d e . c o . u k 5 5 SECTOR-SPECIFIC OPPORTUNITIES K R A M
N Doing Business in Denmark E D
Sector-specific opportunities Cleantech and energy
The UK Department for International Trade Denmark is the world leader in Cleantech (DIT) publishes over 1,000 business and low carbon-related industries. Danish opportunities per month across all sectors companies control one third of the global and over 100 markets. Sign up to receive wind market and are the world leaders in regular export opportunities alerts at: supply chain technologies to the wind www.exportingisgreat.gov.uk industry. Danish investment in UK wind energy offers engineering and technology Access high value public procurement opportunities within: notices via Tenders Electronic Daily (TED) at: www.ted.europa.eu/TED/main . TED • composites contains all procurement notices above a certain threshold from the EU and • nacelle components shipping and European Economic Area (EEA). See also: installation www.ojec.com • fabrication [Source: Department for International Trade (DIT)] • operations and maintenance (O&M)
The Danish oil & gas industry is also Infrastructure and engineering expanding. Around £4 billion is being spent in the North Sea, in both UK and Danish Denmark currently has extensive waters. Opportunities lie in all areas of opportunities within construction, engineering offshore exploration and production (E&P) and transportation. These include: activities including:
• £2.5 billion high value opportunity • engineering (HVO) for the Femern Tunnel link to Germany • fabrication
• one of the largest rail renovation • consulting projects in Europe, running until 2020 • crewing Contact Mark Chapman: [email protected] for • shipping more information on infrastructure and engineering opportunities. Contact Tommy Hansen: [email protected] , for [Source: Department for International Trade more information on opportunities in the (DIT)] cleantech and energy sectors in Denmark.
[Source: Department for International Trade (DIT)]
Visit the Website and download the free Mobile App Healthcare and the United Nations The main areas of procurement are for:
Denmark currently has one of the largest • medicines hospital infrastructure projects in Europe. An estimated £4.5 billion will be spent from • emergency equipment 2013 to 2020 on new super hospitals countrywide. • medical devices
Opportunities exist within: • water and sanitation
• construction and infrastructure Contact Daniel Elliot: d aniel.elliot@ mobile.ukti.gov.uk, for more i nformation • design on opportunities in the healthcare a nd UN operations sectors in Denmark. • medical devices [Source: Department for International Trade • telemedicine (DIT)]
• general hospital equipment
Copenhagen is now the United Nations (UN) second most important procurement centre outside of Geneva. Major UN agencies taking around £3 billion of decisions include:
• United Nations Office for Project Services (UNOPS)
• United Nations Development Programme (UNDP)
• United Nations Children’s Fund (UNICEF)
• United Nations Population Fund (UNFPA)
• World Health Organisation (WHO)
www. Denmark .Doing Business Guide .co.uk 57 InternationalInternational businessbusiness cancan bebe difficultdifffffiicult
For 49 years we’ve helped British companies succeed in global markets. Let us help you.
JoinJoin us.us.
VVisitisit wwww.britishexpertise.orgww.britishexpertise.org EEmailmail [email protected]@britishexpertise.org TTelephoneelephone ++4444 ((0)0) 2200 77824824 11920920 d
o Doing Business in Denmark o w r e d n U x e l A f o y s e t r u o c e g a m I
Defence and security Other sectors
Denmark has growing defence and security Other sectors offering promising interests. Export opportunities are available opportunities for UK companies include: in all areas of military hardware and software. There is an increasing interest in: • Information Communications Technology (ICT) • cyber security • professional services • outsourcing of military logistics and management • food and drink
Contact the UK Government’s Export • consumer goods Control Organisation (ECO) to check your goods are meeting legal requirements Contact Carrie Phillips: carrie.phiilips@ for export, at: www.gov.uk/government/ mobile.ukti.gov.uk , or Joanne Ganthier: organisations/export-control-organisation [email protected] , for more information. Contact Hans Monberg: [email protected] for [Source: Department for International Trade (DIT)] more information on defence and security opportunities in Denmark.
[Source: Department for International Trade (DIT)]
www. Denmark .Doing Business Guide .co.uk 59 MAKING THE MOST OF A WORLDW OF OPPORTUNITY
British SMEs have a strong history of serving customers domestically, but increasingly opportunities lie in other markets. With a highly trade oriented market, a prosperous economy - with strong growth and low inflation - and where English is widely spoken, Denmark provides significant trade opportunities for businesses in the UK. Many SMEs, however, feel unable to maximise their international trade potential, often listing a lack of funding, inexperience in dealing with foreign currency and cultural nuances as the top constraints holding them back. But there is a wealth of support available, both in MarkPhil Tobin Lindsay relation to funding and currency exchange, and Managing Director of Trade and International Internationalat Bibby Financial at Bibby Services Financial Services. overcoming cultural barriers to trade.
ABOUT US HOW WE CAN HELP Part of the 200-year-old international We take a relationship based approach business-to-business services provider, to supporting businesses, which means the Bibby Line Group, Bibby Financial Services that we work hand-in-hand with our hash been helping businesses to trade clients to find the right support package overseas for over 15 years. Formed in for them. Though our solutions are 1982, we have more than 40 operations highly bespoke and tailored to the individual needs of our clients, we o er in 14 countries, including 19 UK o ices. threet solutions for those trading in Globally, we have 9,500 customers and overseas markets. our international footprint enables us to EXPORT FINANCE support businesses trading in over 100 We can provide funding of up to £10m countries worldwide. to support businesses exporting and our In addition to our Export Finance services, Export Finance facility was designed we provide import and multi-currency to provide a flexible finance solution - support, helping our clients to trade with but also to provide support in relation to developing business in foreign confidence in overseas markets. markets, cultural expertise, linguistic and currency services. We provide funding against unpaid and turn around payment quickly can customer invoices, unlocking working be essential. capital and helping our clients to bridge Bibby Foreign Exchange looks to remove the gap between invoicing and payment, complexities preventing many SMEs which can frequently extend to over from engaging in international trade, by 120 days in overseas markets (often while combining business funding with foreign goods are in transit). exchange in your currency of choice. Additionally, we can manage the full INTEGRATED SUPPORT FOR invoice collections process using multi- INTERNATIONAL TRADE lingual credit controllers and overseas Combining funding with foreign exchange multi-currency accounts, enabling services is something other non-bank businesses to focus on fulfilling existing funders are simply unable to do and the orders and generating new sales. ability for businesses to drawdown – On top of this, we can provide Bad Debt in a currency of their choice – from existing Protection, helping our clients to o set funding arrangements, is a huge benefit. the risk of non-customer payment in the Having Export and Trade Finance and markets in which they trade. Foreign Exchange capability enables our teams to support businesses whatever TRADE FINANCE their needs and ambitions. For those importing goods from Denmark, Our dedicated business development our trade financing o ering provides a means people, committed relationship management of paying international suppliers upfront, teams and knowledgeable operations enabling our clients to negotiate early function mean we’re in a great position to payment discounts and benefit from better support SMEs trading internationally. customer and supplier relationships. Additionally, we can cover the cost of shipping, VAT and import duty, removing To find out more about how we the hassle of importing and helping our can support your business, visit clients to access to goods they need, when they need them. www.bibbyfinancialservices.com or call 0808 301 5423. FOREIGN EXCHANGE Foreign exchange plays a huge role in the e iciency, accessibility and appeal of exporting and importing, however, trading anywhere overseas can leave a business exposed to currency fluctuations. When agreeing prices of goods, businesses need to consider potential future currency fluctuations which could result in the sale price decreasing by the time it comes to invoicing for the goods. Having access to experts who can talk about exchange rates DENMARK
Doing business in Denmark is very similar to doing business in the UK. If your product or service is successful in the UK, there is a good chance you will be successful in Denmark. s u h r a A f o t r o P w w w . D e n m a r k . D o i n g B u s i n e s s G u i d e . c o . u k 6 3 PREPARING TO EXPORT K R A M
N Doing Business in Denmark E D
Preparing to export How to do business in Denmark
Start-up considerations Legal considerations
The traditional routes of market entry are: EU legislation forms the basis of Danish law for trade and commerce. However you • direct exports should still seek professional legal advice.
• finding a distributor or wholesaler Contact Lundgrens, for more information (see page 32 for more information). • joint venture Standards and technical regulations Once you have a foothold in the market you should consider starting up a Danish The Danish Standards Agency has subsidiary. This is a quick and relatively responsibility for standards. See: easy process in Denmark. www.ds.dk/en/standards
‘Invest in Denmark’ and ‘Copenhagen EU standards mostly apply with regard to Capacity’ provide information on setting packaging. However, dependant on the up a business in Denmark. See: business sector there may be local www.investindk.com/Establishing- considerations. You should check by: a-business-in-Denmark and www.copcap.com • seeking appropriate legal advice
Challenges to doing business in • consultation with relevant national Denmark agencies
Doing business in Denmark is very similar • consulting the local Department for to doing business in the UK. If your product International Trade (DIT) team at the or service is successful in the UK, there is British Embassy in Copenhagen. a good chance you will be successful in See the 'Resources' section of this Denmark. guide from page 79, or: www.gov.uk/government/ world/ Denmark is a member of the European organisations/uk-trade-investment Union (EU) so there are currently no -denmark#contact-us significant trade barriers in exporting to Denmark. [Source: Department for International Trade (DIT)] [Source: Department for International Trade (DIT)]
Visit the Website and download the free Mobile App Intellectual Property (IP) Intellectual property can:
Trademarks, designs, patents and copyright • have more than one owner are the principal forms of Intellectual Property (IP) protection available to • belong to people or businesses companies and individuals. • be sold or transferred Having the right type of intellectual property protection helps you to stop people stealing However, IP law – especially for patent or copying: protection – is not yet totally harmonised within the EU. • the names of your products or brands The Danish Patent and Trademark Office • your inventions is responsible for IP in Denmark. See: www.dkpto.org • the design or look of your products Contact the Intellectual Property Office • things you write, make or produce (IPO), the official UK government body responsible for intellectual property (IP) Copyright, patents, designs and trademarks rights including patents, designs, are all types of intellectual property trademarks and copyright, for further protection. You get some types of protection information or advice: automatically, others you have to apply for. www.gov.uk/government/organisations/ intellectual-property-office You own intellectual property if you: [Source: Department for International Trade • created it (and it meets the (DIT)] requirements for copyright, a patent or a design)
• bought intellectual property rights from the creator or a previous owner
• have a brand that could be a trade mark, e.g. a well-known product name
You usually will not own the intellectual property for something you created as part of your work while you were employed by someone else.
www. Denmark .Doing Business Guide .co.uk 65 I
www.export.org.uk
We can help develop new ideas and find ways to drive down costs and produce sustainable improvements in your export business. • Membership supports all aspects of your international trade • Leading UK authority on trading globally • Tailored training to support your business needs • Expert solutions for international trade
Exporting great ideas to you. Join us today Call: +44(0)1733 404 400 email: [email protected] Tax and customs considerations Customs The internal market of the European Union The UK and Denmark have signed a double (EU) is a single market in which the free taxation convention. The UK Government movement of goods, services, capital and has a 39-page document “1980 UK- persons is assured, and in which citizens Denmark Double Taxation Convention are free to live, work, study and do business. as amended by the 1996 Protocol” downloadable at: www.gov.uk/government/ Since its creation in 1993, the single market publications/denmark-tax-treaties-in-force has opened itself more to competition, created jobs, and reduced many trade The Danish Customs and Tax Administration barriers. The Single Market Act (see: SKAT provides more information on www.ec.europa.eu/growth/single-market/ taxation in Denmark. See: smact ) was put forward in two parts, in www.skat.dk/data 2011 and 2012, containing proposals to further exploit the opportunities afforded Value Added Tax (VAT) by the single market, in order to boost VAT is charged at 25% on all products and employment and improve confidence in services. European business.
Check with HM Revenue and Customs Therefore as a single market allowing the (HMRC) regarding VAT refund of business free movement of goods and services, no expenses incurred in Denmark. See: import duties are applicable. www.gov.uk/government/publications/ vat-notice Documentation Goods which are in free circulation within Company tax the EU can move between member states Companies are taxed at a flat rate of 23% without being subject to any documentation on income from Danish sources when the: requirements.
• company is registered in Denmark This does not apply to excise or controlled goods which still require documentation. • management is based in Denmark [Source: Department for International Trade The corporate tax rate will have fallen to (DIT)/HMRC] 22% by the end of 2016.
A special tonnage tax applies in Denmark in relation to the shipping industry. This tax is an alternative to the normal corporate income tax regime for shipping companies resident in Denmark. See the Danish Maritime Authority website for more details: www.dma.dk/themes/ jointheDanishmerchantfleet
Income tax Resident individuals are taxed on their worldwide income. You are deemed to be resident when you have lived in Denmark for six months. There are special rules for foreign experts. www. Denmark .Doing Business Guide .co.uk 67 t n o r f r e t a w y r a r b i L h s i n a D l a y o R d n o m a i D k c a l B n e g a h n e p o C
DENMARK
Women are highly regarded in business, with equal pay and access to senior positions, and a large number of organisations allow flexible working hours to assist working mothers manage both a family and a career. w w w . D e n m a r k . D o i n g B u s i n e s s G u i d e . c o . u k 6 9 BUSINESS ETIQUETTE, LANGUAGE & CULTURE K R A M
N Doing Business in Denmark E D
Business etiquette, language & culture The Danish language
Background The Danish language is a northern Germanic language. The Danish alphabet has 29 letters and uses the basic 26-letter Denmark is world-renowned for its focus Latin alphabet plus the three additional on sustainability, new Nordic food, bikes, letters Æ, Ø, Å. Danish (Dansk) is one of classic furniture design and for being the the North Germanic languages (also called happiest country in the world. Scandinavian languages).
In Denmark people strive to create a Over 98% of the population speak Danish, better environment by developing new although around 20,000 people speak and greener ways of living, greener German in the Nord-Schleswig region transportation, town planning, industry and bordering Germany. Greenlandic is an Inuit more. Along with the sustainable agenda, language, spoken by approx. 0.1% of the Denmark is a country with great cultural population. surplus, because of its wealth and prosperity. Art is often supported by the government If you are selling into Denmark, it is important and this gives abundant opportunities for to use Danish for all your communication artists to develop and express their creativity. materials, which will need to be of a very high quality. Do not use internet translation Many think of furniture design and sites, which are not always accurate. architecture when they think of Danish Consider what type of future relationship lifestyle and culture. Yet today, Denmark you want to have in Denmark, and how is perhaps equally famous for food, films much Danish you might need. For translation and sports. The world's best restaurant enquiries contact AST Language Services: "Noma" has introduced a whole new way www.astlanguage.com . of cooking with New Nordic Cuisine. Filmmakers such as Lars von Trier and As a common courtesy, as a UK business Susanne Bier have won a multitude of wishing to succeed in Denmark you will international awards, and one of the find that understanding and speaking a little world's best female tennis players, Danish – although possibly not essential – Caroline Wozniacki, is Danish. does indicate that you are serious about doing business there, and shows that you [Source: Ministry of Foreign Affairs of are keen to understand and appreciate Denmark] their local culture.
Money
The currency in Denmark is the Danish Krone, not the Euro.
Visit the Website and download the free Mobile App Danish society & culture Business protocol
Women in Danish society Titles Denmark is a very egalitarian society. In business, professional titles are often Maternity and paternity Leave are used followed by the surname, or simply particularly generous in Denmark, and Herr (Mr), Fru (Mrs) or Froken (Miss) plus fathers share many of the child-rearing the surname instead. It is not unusual to responsibilities. move to first names quickly, but best to wait until invited to do so. Women are highly regarded in business, with equal pay and access to senior Meetings positions, and a large number of • Always make appointments first, and organisations allow flexible working hours confirm in writing to assist working mothers manage both a family and a career. • Avoid arranging meetings between mid-June and mid-August as many Danish values Danes are on holiday Most Danes are modest, and are more concerned about group rather than individual • Always arrive at meetings on time – needs, talking in moderate tones and not doing anything to call attention to the Danes you are meeting will be themselves. punctual
Children are raised to be independent from • On arrival, shake hands with women an early age, and attitudes to marriage are first fairly liberal. Many couples live together and start a family without marrying. Business negotiation Homosexuality is legal and Danish law Danes are keen on attention to detail, care - allows same-sex marriages ful planning, consultation and consensus, considering concrete facts rather than Etiquette & customs novel sales techniques:
Greeting • Always agree and send an agenda Greetings tend to be casual, often using before the meeting, and keep to it first names. Handshakes are fairly firm, combined with direct eye contact and a • Decisions are made after consulting smile. Always shake hands with women with everyone involved first. • Ensure your presentations are clear Dining If invited to a Danish home for dinner, you • Maintain eye contact while speaking should bring a gift for the host, such as flowers, chocolate or wine.
www. Denmark .Doing Business Guide .co.uk 71 > Clear, consistent content is vital to making your business understood overseas. So don't leave it to chance.
> Well-known companies we already work with include: Serco, Experian, Intertek, IKEA and Caterpillar
> For a structured approach to translation, please read the article that follows
T: 0115 9705633 | E: [email protected] | www.astlanguage.com If you're reading this guide, the chances are you're either a seasoned exporter, or you're committed to investigating new export opportunities for your business. Whichever category you fall into, you'll have a good idea of the huge investment in time, effort and resources which is required for export success.
Your priority will be to get your product or service to market, and it's a fact of life that procurement of peripheral resources such as translation is often left to the last minute. In this article we'd like to demonstrate to you how building translation into the early planning stages of your export campaigns can pay dividends.
The internet, mobile connectivity and social media mean that now more than ever before customers, be they B2B or B2C, are buying goods and services within the context of a connected world of instant communication.
Buying decisions carried out in In non English-speaking markets, isolation of wider and constantly all of the above can be achieved changing sector, economic or by working with a reliable and social contexts are a thing of the professional translation partner. past. This means that increasingly any product or service has to be So how can really good translation supported with professional help build your export success: technical, marketing or other contextual content. • clear and accurate foreign- language branding and As examples of this, exporters need content will motivate foreign their technical documentation to customers to buy from you be easily assimilated, their marketing content to be compelling, and • consistent and harmonised their website to be informative messaging helps to convey and and memorable. Human resources reinforce your company's values departments on the other hand and ethos need sensitive localisation of policies & procedures in line • corporate and operational with local legislation, corporate risk through poor quality guidelines and house style. After all communication and an international expansion strategy misunderstanding is eliminated or company restructuring could easily be undermined by insensitive • overall brand integrity and internal communication. reputation are enhanced The following components are cost savings – with company key to a successful translation wordings for products, processes, project, and show how AST titles and descriptions translated can make the process of consistently. internationalising outward-facing and internal communications Terminology management simpler, more professional and more cost-effective: The key words used to describe your company’s products, Rigorous selection of translators services and processes support your brand and identity. This is AST’s ISO9001 certified and equally true in your foreign ISO17100 compliant processes language communications. mean that the company has Unfortunately, once translated it approved sector-specialist is often easy to lose control of key translators whatever the terms, leading to uncertainty as language and deadline to whether the translations are requirements, with experienced having the desired impact. proofreaders to give the text AST’s terminology management precision and professionalism to prevents this. Glossaries are really focus the reader’s attention. maintained in multiple languages and client terminology is checked Translation memory technology in each language by industry sector experts. As the glossary Client-facing documents grows it can be reused with each produced periodically often new project, so client content is contain sections which stay the always on-message and brand same and sections which need integrity consistent. updating. Similarly company websites and technical data or So there’s really no need for you manuals can contain identical to leave the “softer” aspects of paragraphs and sections. your export campaign to chance. Translation Memory technology Using a professional translation is used in this situation to identify company like AST provides a duplicate and legacy text. guarantee that your international The duplicates are logged and content will be clear, consistent reused – leading to reduced and effective. Whatever the turnaround times and resulting language. > YOU NEED YOUR SALES, TECHNICAL AND WEBSITE CONTENT TO BE TRANSLATED BY EXPERTS!
> We’re recognised as a UK leader for translating high profile, client-facing documents
> All our translators are rigorously selected so your text will be translated by the best people in the business
> We ensure you get premium quality translations every time, on time and within budget
No matter how urgent your assignment we can translate it.
T: 0115 9705633 | E: [email protected] | www.astlanguage.com I
Moving in the right direction • The leading UK authority on all aspects of international trade • Exporting excellence through education • Expert solutions to your export needs • Maximising your profit from International Trade
Our main aim is to help you achieve your export and international trade goals. If you do well, we do well. Join us today Call: +44(0)1733 404 400 email: [email protected] www.export.org.uk Public holidays 2016
Date: Day: Holiday:
th 24 December Saturday Christmas Eve
th 25 December Sunday Christmas Day
th nd 26 December Monday 2 Day of Christmas
Public holidays 2017
Date: Day: Holiday:
st 1 January Sunday New Year's Day
th 13 April Thursday Maundy Thursday
th 14 April Friday Good Friday
th 16 April Sunday Easter Sunday
th 17 April Monday Easter Monday
th 12 May Friday Prayer Day
th 25 May Thursday Ascension Day
th 4 June Sunday Whit Sunday
th 5 June Monday Whit Monday
th 5 June Monday Constitution Day
th 24 December Sunday Christmas Eve
th 25 December Monday Christmas Day
th nd 26 December Tuesday 2 Day of Christmas
www. Denmark .Doing Business Guide .co.uk 77 d o o w r e d n U x e l A f o y s e t r u o c e g a m I
DENMARK
Denmark is world-renowned for its focus on sustainability, new Nordic food, bikes, classic furniture design and for being the happiest country in the world. w w w . D e n m a r k . D o i n g B u s i n e s s G u i d e . c o . u k 7 9 RESOURCES
What does membership of the Institute of Export mean?
To most the Institute of Export simp ly plods away providing much needed qualifications to professionalise the industry however, did you realise that our helpline is one of the busiest and be st in the i nd ustry? It’s all part of membership and, if you need more than a pho ne call, w e can put together a project to fulfil your needs. 2015 saw the launch o f our Tech nica l Help for Exporters that recognises the volume of legislation and regulation that covers our industry and gives you the comfort of knowing that if you don’t know, you know someone who does!
Innov atio n is key to the success of the Groups, and those who attend our Institute an d ne w idea s i nclude our training courses or study with us,
Ne w Export er package. This allows a enables us to represent the industry at business to enter a ne w marke t secure government levels in both the process in the knowledge that they have an and delivery of policy for international und erstanding of how t hey will op era te trade. These views also help us to and comply with any specific ensure that the training programmes regulations and s tan dards . Practical are effective and pertinent to the help and assistance is always industry needs. Our Diploma in World available from the Inst itute so a n y C usto ms Compliance and Regulation additional training can be tailored is testament to the way we listen to our to the business and the te am t hat members’ needs. This was driven by needs the knowledge. Nis san, Adidas, John Lewis and many others and will neatly dovetail into any The work of the IOE also e xten ds AEO work ensuring that quality to representing membe rship views. standards are met at manager and Knowledge gained from our members’ junior staffing levels. feedback, those who get involved with the forums and Special Interest
www.export.org.uk
Starting in 1935, the Institute commit - We need to engage the next genera - ted itself to bu i lding co m pete nce and tion in thinking about how world trade growing confidence for businesses works and how it will be great for trading in goods and services, which British businesses. They need to know at the time, was a far reaching remit. how items arrive in the shops which, in Over the years this remit has seen us turn, will begin to spark ideas. As these develop from simply providing training young people join companies they will in short course format over a day, or bring a fresh outlook that all things are perhaps two, into a fully-fledged Ofqual possible especially if you operate Awarding Organisation that operates globally. specifically to deliver international trade education.
This status allows our individual Why not call us and get involved? members and corporates alike to be It has never been more important that sure that they are part of a quality we act as an industry to help – we organisation with plans for growth need experts and commitment to integrated with a sustainable future for professionalising international trade the global prosperity of UKPlc. from businesses large and small – help your institute to stay ahead of Part of our work includes mapping the curve. existing qualifications to roles and produc ing tr aining needs analyses to ensu re staffing progression and con tinuity. The need to upskill our w orkfor ce to match those of our The Institute of Export competitors is a key element vital for Export House growth. Our focus is on recognising Minerva Business Park, Lynch Wood, that Intern atio nal trade needs specific Peterborough, Cambridgeshire, kn owledge, coup led with a strong PE2 6FT, UK belief that we must start to talk to our Telephone: +44(0)1733 - 404400 young people at an earlier stage. Fax: +44(0)1733 - 404444
Lesley Batchelor OBE, FIEx (Grad) - Director General, The Institute of Export
Focusing on qualifications. A focus on qualifications - but why do we need them?
I’d like to tell you about my story, it’s ok it won’t take too long but I think it’s similar to a lot of people that work in international trade.
I left school with no ambition to do anything other than help my mum make ends meet. I wanted to be a seamstress but we couldn’t afford the material for the interview so I went into an accounts department at a large pharmaceutical company. Luckily for me they recognised a hard worker and asked me to work in various departments. After a year they asked me which one I like the best and without even thinking I said “international”, and that was my career set out for me.
Working in international trade I found that So I spent the next two years, two nights a I needed to understand so many different week at night school honing my skills and things - from how trade agreements building a knowledge and understanding of impacted a sale to the legal aspects of all aspects of the trade I had entered “by trade and how different systems worked in the back door”. Finally, exhausted but with terms of contract and disputes. Getting paid a full understanding of how planning and brought about a whole new set of issues control worked, I passed and became a and this really made me learn and think Graduate Member of the Institute of Export, about the implications of offering credit and suffix MIEx (Grad) in 1991. how it can be used to your advantage. Well, many things have changed since Things I learnt about logistics and the then, as after many years of working in paperwork that was needed to support a international trade, I took over at the helm, trade were empirical and slowly I became steering the qualifications and the Institute sure of my knowledge. The problem was, towards a better place. We have now that when I wanted to move on to the next gained Ofqual Awarding Organisation status company, I had nothing to show I had that for the qualifications and have worked hard knowledge. It was frustrating to find that the on ensuring we are ready for the next 80 knowledge that I had accumulated over 11 years of representing the industry and years wasn’t evidenced in any way and that standing as guardian of professional no-one knew exactly what I knew. I was standards in international trade. lucky enough to get my next job with a well-known Japanese computer company OFQUAL* awarding status is hard but it made me realise that if I wanted a earned and we are proud to be the only career, I needed to get qualified. professional body operating in this international trade environment. IOE Qualifications in brief a. International Physical Distribution www.export.org.uk/professional-qualifications b. Selling Services, Skills and Software Overseas Level 1 Young International Trader c. Or one of: (Available electronically) Level 2 International Trade Logistic i. Doing business & communicating Operations ** in Arabic speaking markets Level 3 Certificate of International Trade ii. Doing business & communicating Certified International Trade in Spanish speaking markets Adviser iii. Doing business & communicating Level 4 Advanced Certificate in in German markets International Trade iv. Doing business & communicating Level 5 Diploma in International Trade in Chinese markets Diploma in World Customs v. Doing business & communicating Compliance and Regulations in Russian markets Level 6 Foundation Degree jointly delivered with ***Anglia Ruskin The series of modules above carry University language skills training, the focus being Higher Apprenticeship in on basic business language needed and International Trade - the first business culture so far. Finally, eBusiness internationally will be Our courses at level 3 onwards are launched summer 2016. delivered online using a blended learning technique which involves the support of an The Diploma in International Trade - expert tutor for each topic. The IOE online level 5 is equivalent to the second year of campus offers a range of learning tools, a degree and is accepted as entry level for:- from power-point presentations and videos to online chats and forums for the students. BSc (Hons) in Management Practice - The Institute has a success rate of 95% International Trade with Plymouth University in helping our students through these -Online 24 months academic programmes. MSc International Trade, Strategy and The Advanced Certificate in International Operations with Warwick University - 36 Trade - Elective modules have been added months part residential to the level 4 Advanced Certificate syllabus. In addition to the three core modules of Business Environment, Market Research & Marketing and Finance of International www.export.org.uk/professional-qualifications Trade, students can now choose a fourth will give you more detail and a contact who elective module from: will talk you through your options.
*The OFQUAL Register of Regulated Qualifications contains details of Recognised Awarding Organisations and Regulated Qualifications in England (Ofqual), Wales (Welsh Government) and Northern Ireland (Ofqual for vocational qualifications and CCEA Accreditation for all other qualifications). ** International Trade Logistic Operations is delivered through our approved centres *** Anglia Ruskin University is Entrepreneurial University of the Year www.teamrelocations.comwwwwww.teamrelocations.com
Global relocation for a changing world Team Relocations
Team Relocations delivers integrated relocation, moving and specialised employee mobility services on a global, national and regional basis for many of the world’s leading multinational organisations and government agencies.
Our services are more than just ‘transactional’. We have a proven track record of managing corporate global relocation programmes, whether on a regional or tri-regional basis. We work with you to tailor the combination of services you receive, to best meet your requirements, as well as those of your employees.
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Flexibility: 6ROXWLRQVWDLORUHGWR\RXUVSHFLÀFUHTXLUHPHQWV ensuring the needs of your employees are fully met
Cultural Fit: Flexible, responsive and accessible service approach fully aligned with your business’ core values and working practices Single Point of Coordination: Single Team Relocations contact throughout the relocation process, providing UHJXODUEULHÀQJVDQGIXOODFFRXQWDELOLW\IRUWKHTXDOLW\RI service delivery Integrated Systems & Reporting: Fully integrated IT solution and service model that streamlines points of contact for your employees S N O I
T The Institute of Export
A Export House S
I Minerva Business Park
N Lynch Wood
A Peterborough
G PE2 6FT, UK R O
Tel: +44 (0) 1733 404400
G Website: www.export.org.uk N I T R O P P U
S In the past five years, we have provided:
• £14 billion worth of support for UK exports; • direct support for more than 300 customers supported directly, with many thousands more benefiting through export supply chains; • nearly 2000 individual guarantees, loans or insurance policies.
b s UK Export Finance is the operating name of the Export Credits Guarantee Department e t (ECGD). UK Export Finance is the UK’s export credit agency, serving UK companies of For more information and to arrange a all sizes. We help by providing insurance free consultation with an Export Finance to exporters and guarantees to banks Adviser, visit to share the risks of providi ng export www.gov.uk/making-exports-happen finance. In additio n, we ca n make loans to overseas buyers of goods and services New business enquiries: from the UK. e . Telephone: +44 (0) 20 7271 8010 Email: [email protected]
British Expertise 23 Grafton Street, London W1S 4EY
Tel: +44 (0)20 7824 1920 Fax: +44 (0)20 7824 1929 www.britishexpertise.org
E + 0 S N O I T A S I
Alternatively, you may contact the team N
in Copenhagen directly: A G
Department for International Trade R O
Denmark
The British Embassy G
Kastelsvej 36-40 N I
The UK Department for International DK-2100 Copenhagen T
Trade: Denmark R O
If you have a specific enquiry about the Email: [email protected] P Danish market which is not addressed by P the information in this guide, you may Commercial enquiries U S contact: (Monday to Friday, 10am to 12pm)
Email: [email protected] Tel: +45 (0) 35 44 51 06 Tel enquiries: +44 (0)20 7215 5000
The British Chamber of Commerce The British Chamber of in Denmark (BCCD-BIU) is a bilateral Commerce in Denmark Chamber for business people in Odd Fellow Palace Denmark, operating in accordance Bredgade 28 with its Articles of Association. It is 1260 Copenhagen K a self-financing organisation that gets Denmark. its primary income from member subscriptions. Telephone: +45 31 18 75 58 E-mail: [email protected] The vision of the British Chamber CVR: 17 15 32 18 of Commerce in Denmark is to be a “prominent promoter of business and President & CEO: culture throughout Europe and beyond, Mariano A. Davies through the global network of British Email: [email protected] Chambers.” Tel: +45 31 18 75 58 Mobile: +45 40 85 34 49
www. Denmark .Doing Business Guide .co.uk 87 S
T Translation / Language Services R E P
X AST Language Services E
T AST Language Services Ltd
E Unit 8
K Ayr Street
R Nottingham A NG7 4FX M United Kingdom
Phone: +44 (0)115 970 5633 Fax: +44(0)845 051 8780
Email: [email protected] www.astlanguage.com
Financial Services
Bibby Financial Services
Bibby Financial Services Ltd Endeavour House Banbury Office Village Noral Way Banbury Oxfordshire OX16 2SB
Phone: 0808 301 6017
Email: [email protected] www.bibbyfinancialservices.com
Law / Legal Service
Lundgrens Law firm P/S
Lundgrens Law firm P/S Tuborg Havnevej 19 DK-2900 Hellerup Denmark
Tel: +45 3525 2535 Visit the website: www.lundgrens.dk S
Airline / Corporate Travel T R E P X E
T
Norwegian Air E K R
Call us on +44 (0)330 828 0854 A M Find flights at: www.norwegian.com/uk
Engineering, Design & Consultancy
Ramboll
Contact: Lars Ostenfeld Riemann
Email: [email protected] Tel: +45 51616897
For further information, please visit www.ramboll.com
Commercial Real Estate / Office Space
Sadolin & Albæk A/S
Sadolin & Albæk Corporate Solutions Palægade 2-4 DK-1261 Copenhagen K
T: +45 70 11 66 55
W: www.sadolin-albaek.dk/en/ kompetencer/corporate-solutions-sacs
Partner and Director: Lau Melchiorsen S
T Accountants / Professional Business Services R E
P Sheltons Denmark X E
T Omogade 8, 2nd floor
E DK-2100 Copenhagen
K Denmark R
A www.SheltonsGroup.com
M [email protected] +45 45 46 10 88
Andrew Woods, Director: [email protected]
Relocation Services
Team Relocations
Copenhagen: Kanalholmen 31-33 DK-2650 Hvidovre, Denmark Tel: +45 70 10 51 00 Fax: +45 36 86 00 95 [email protected]
London: Drury Way, London NW10 0JN. United Kingdom Tel: +44 20 8784 0100 Fax: +44 20 8955 1400 [email protected] Website: www.teamrelocations.com
ICT / Telecommunications
3 (Hi3G Denmark Aps)
If you need a professional communication partner, do not hesitate to contact 3Business:
3 (Hi3G Denmark Aps) Scandiagade 8 2450 København SV Denmark
Website: www.3.dk/business If you can not get a new or replacement passport in time to travel, you may be able to get an emergency travel document.
Get an emergency travel document You can apply for an emergency travel document (ETD) if you are abroad and your passport has been lost or stolen, damaged or expired, and you can not get a new or replacement passport in time to The British Embassy in Cophenhagen travel. develops and maintains relations between the UK and Denmark. Their work covers If you are due to travel in the next 24 a range of issues including political, hours, contact us as soon as possible. commercial, security and economic Call us before making an appointment questions. if you have never applied for a British passport before or if you are applying The Embassy works closely with the for a child under the age of 16. Book an Danes on responding to the financial appointment for an emergency travel crisis, minimising the threat from terrorism, document in Copenhagen building a strong and stable EU and on creating peace and security in Afghanistan. Support if you have been arrested They explain UK policies to the Danish We will do all we can to contact you within government, non-government organisations 24 hours of being told that you have been and media. They also report Danish views detained or arrested, and will give you a and policies to the British Government. prisoner pack with information for British prisoners in Denmark. We cannot get you The Embassy supports British defence out of prison, prevent the local authorities interests in Denmark, including developing from deporting you after your prison links between the British and Danish sentence, or interfere in criminal or civil militaries. They deal with trade and court proceedings. investment issues including helping British companies do business in Denmark and Notarial and documentary services Danish companies do business with Britain. We may be able to offer notarial services, including Administer an oath, affirmation or The embassy works closely with the British affidavit and Make a certified copy of a Council Denmark on educational and British passport. cultural issues and with VisitBritain who deal with tourist enquiries for the UK. Contact us: Services for British nationals British Embassy Copenhagen Kastelsvej 36-40 Urgent assistance DK-2100 Copenhagen Denmark If you a re in Denmark and you urgently need help (e.g. if you’ve been attacked, Email: [email protected] arrested or there has been a death), call +45 35 44 52 00. If you’re in the UK and Consular / passport enquiries: concerned about a British national in [email protected] Denmark, call 020 7008 1500. Telephone: +45 (0) 35 44 52 00 Get or renew a passport The British embassy can not help with passport enquiries. Contact Her Majesty’s Opening hours: Monday to Friday, Passport Office if you need help. 9am to 5pm www.Denmark.DoingBusinessGuide.co.uk
Visit the Website and download the free Mobile App
View this guide online
Website and Mobile App features include:
• Latest business news • Up-to-date travel advice • Interactive ‘Supporting Organisations’ and ‘Market Experts’ profiles • Essential contact details • Listings with links to up-and-coming trade shows • Links to the Department for International Trade (DIT) support services.
Powered by Useful Links Intellectual Property: Intellectual Property Office: Country information: www.ipo.gov.uk BBC Website: www.news.bbc.co.uk/1/hi/country_ Market access: profiles/default.stm Market access database for tariffs: www.madb.europa.eu/madb/indexPubli.htm FCO Country Profile: www.fco.gov.uk/en/travel-and-living- Standards and technical regulations: abroad/travel-advice-by-country/country- British Standards Institution (BSI): profile www.bsigroup.com/en/sectorsand services/Disciplines/ImportExport Culture and communications: CILT – National Centre for Languages – Intellectual Property Office: Regional Language Network in your area: www.ipo.gov.uk www.cilt.org.uk/workplace/employer_ support/in_your_area.aspx National Physical Laboratory: www.npl.co.uk Customs & regulations: HM Revenue & Customs: Trade statistics: www.hmrc.gov.uk HM Revenue and Customs (HMRC): www.uktradeinfo.com/statistics/ Economic information: buildyourowntables/pages/table.aspx The Economist: www.economist.com/countries National Statistics Information: www.statistics.gov.uk/hub/index.html Trading Economics: www.tradingeconomics.com Trade shows: British Expertise Events: Export control: www.britishexpertise.org Export Control Organisation: www.gov.uk/beginners-guide-to- DIT Events Portal: export-controls www.events.trade.gov.uk
Export finance and insurance: Travel advice: British Insurance Brokers Association FCO Travel: (BIBA): www.biba.org.uk www.gov.uk/browse/abroad
UK Export Finance (formerly ECGD): FCO Foreign Travel Insurance: www.gov.uk/government/organisations/ www.gov.uk/guidance/foreign-travel- uk-export-finance insurance
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t / / & a o r k d o o Danish Embassy in the UK: w r
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merchantfleet/Sider/Tonnagetaxand y s
e seafarerstaxation.aspx t r u o c Danish Patent and Trademark Office: e g
a www.dkpto.org m I Danish Standards Agency: www.ds.dk/en/standards
Danish State Railways: www.dsb.dk/om-dsb/in-english
Denmark in the UK (Ministry of Foreign Affairs of Denmark): www.storbritannien.um.dk
Denmark National Weather Service (DMI): www.dmi.dk/en/vejr World Bank Group economy rankings: www.doingbusiness.org/rankings Invest in Denmark (Ministry of Foreign Affairs of Denmark): World Economic Forum Global www.investindk.com/Establishing-a- Competitiveness report: business-in-Denmark www.weforum.org/reports/the-global- competitiveness-report-2016-2017-1 Ministry of Foreign Affairs of Denmark: www.um.dk/en Danish websites: Scanlines: About Denmark (Ministry of Foreign www.scandlines.com Affairs of Denmark): www.denmark.dk/en Statistics Denmark: www.dst.dk/en British Chamber of Commerce in Denmark: www.bccd.dk
Copenhagen Capacity (Invest in Greater Copenhagen): www.copcap.com
Danish Business Authority: www.csrgov.dk
Danish Customs and Tax Administration (SKAT): www.skat.dk/data.aspx?oId=70538&vId= 0&lang=US www. Denmark .Doing Business Guide .co.uk 95
Doing Business in Denmark
Trade Shows
A trade show is a method of promoting a business through the exhibition of goods and services, an organised exhibition of products, based on a central theme, where manufacturers meet to show their products to potential buyers.
Taking part in overseas exhibitions is an effective way for you to test markets, attract customers, appoint agents or distributors and make sales. The DIT's Tradeshow Access Programme (TAP) provides grant support for eligible SME firms to attend trade shows overseas.
Participation is usually as part of a group, a great advantage for inexperienced businesses, and is usually led by one of the DIT's Accredited Trade Association (ATOs). ATOs work with the DIT to raise the profile of UK groups and sectors at key exhibitions. For more information, visit: www.gov.uk/guidance/tradeshow-access- programme.
IOE’s events: www.export.org.uk/latest-news/ international-trade-events
10 Times (formerly BizTradeShows.com): www.10times.com/denmark
British Expertise Events: www.britishexpertise.org
EventsEye.com online database: www.eventseye.com
DIT online events search facility: www.events.trade.gov.uk
www. Denmark .Doing Business Guide .co.uk 97 Simon Chicken – Event Director of Going Global Live: Europe’s leading event for expanding your business overseas
Hi Simon, can you tell us about how Going Global Live started? The Prysm Group had been running The Business Show for 10 years. The Business show is Europe’s largest event helping UK based companies grow domestically. It became apparent that many of our 20,000+ visitors were looking to expand internationally. There was a need, and there was a gap in the market, so we launched Going Global Live at Why is it important for SMEs to ExCeL in November 2014. We’ve done attend the event? 4 events so far and currently (as of May Research has shown businesses are 11% 2016) working on the next show which more likely to survive if they export their takes place on 17th & 18th November at products, Great Britain is currently in a Olympia. fantastic position where we have good trade deals in place and British products What can people expect to find at are in high demand. At Going Global Live Going Global Live? we put all the suppliers and services Think of it as a trade show and conference. companies will need to meet in order for Visitors who come to the event will get up them to achieve international expansion, to date advice from world leading experts all under one roof. Trying to meet with all on the most attractive markets and over - of these people would take years to seas opportunities, and be able to speak arrange and do, at the event you can do it to suppliers & service providers who can in 2 days! If you are serious about taking help with the challenging project of your business to the next level, the event international expansion. is a must attend. If you were to start trading in a new market, which country would that be and why? Iran. This is a massive market which is just opening up, and I would want to get there before my competitors. More importantly, I need an excuse to put a trip to Shiraz on business expenses. A city that is famous for poetry, roses and wine needs to be visited. I’m guessing the food is unbelievable too.
Finally, what are you aims going forward? We’ve reached a point where the event has firmly established itself. Visitors leave our events with advice and knowledge they need to grow their company’s further, however we still feel the event can reach a whole new height. So we’re expanding the team and increasing the size of the exhibition. The show has the potential to be four times the size it is now, in terms number of exhibitors, seminars, and visitors at the event.
K R A M N E D
Disclaimer
Whereas every effort has been made to No liability is accepted by IMA, IOE, the ensure that the information given in this British Embassy Copenhagen, the British Guide is accurate, neither International Chamber of Commerce in Denmark Market Advisor (IMA), the Institute of Export (BCCD), UKEF, DIT, or the FCO for any (IOE), the British Embassy Copenhagen, loss or damage (whether consequential the British Chamber of Commerce in or otherwise) which may arise out of or in Denmark (BCCD), UK Export Finance connection with the report. No warranty is (UKEF), Department for International Trade given, or responsibility accepted as to the (DIT), or the Foreign & Commonwealth standing of any individual, firm, company or Office (FCO), accept liability for any errors, other organisation mentioned. omissions or misleading statements and no warranty is given or responsibility accepted Contains public sector information licensed as to the standing of any individual, firm, under the Open Government Licence v3.0. company or other organisation mentioned.
The purpose of the Doing Business Guides, prepared by International Market Advisor (IMA) is to provide information to help recipients form their own judgments about making business decisions as to whether to invest or operate in a particular country.
The report's contents were believed (at the time that the report was prepared) to be reliable, but no representations or war - ranties, express or implied, are made or given by IMA, the IOE, the British Embassy Copenhagen, the British Chamber of Commerce in Denmark (BCCD), UKEF, DIT or the Foreign and Commonwealth Office (FCO) as to the accuracy of the report, its completeness or its suitability for any purpose. In particular, none of the report's contents should be construed as advice or solicitation to purchase or sell securities, commodities or any other form of financial instrument.
I
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