Denmark has a strong point of departure for entrepreneurship, but although between 14,000 and 18,000 new businesses are set up in Denmark each year, only five per cent of the entrepreneurs develop into high-growth entrepreneurs.
The main challenge in Denmark is to create an environment and culture that support entrepreneurs and especially high-growth entrepreneurs.
Action is needed in several fields:
Administrative burdens
The administrative burdens regarding setting up a business are relatively low but afterwards the administrative burdens increase significantly. Lower administrative burdens is also a necessity to enhance the competitiveness of the European single market and hence strengthen the entrepreneurs and SMEs in Denmark and EU.
Education
Primary school and lower secondary school should strengthen and support a strong independence culture. Upper secondary and tertiary education levels should offer courses in entrepreneurship. In general it is important to change the pedagogy and didactics of the traditional teaching and hereby strengthen the creativity and an entrepreneurship culture.
Taxation
The current level of taxation reduces the entrepreneurs' incitements to start a new company.
Access to finance
Access to finance has an significant impact on the performance of the entrepreneurs. Well functioning capital markets ensure entrepreneurs and SMEs access to the necessary growth capital and working capital. At the European level the European Investment Bank (EIB) plays a significant role in ensuring that entrepreneurs have access to "risk" capital.
Exit barriers
It is not enough just to look at the entry barriers and the general framework conditions. To ensure a successful entrepreneurship policy we also need to ensure successful transfer of businesses.
One of the main tasks in the coming years is to inform potential buyers of the possibilities in relation to buy an existing company. And in connecting with this support the emerging market for buying and selling of companies.
DI Entrepreneur
To support entrepreneurs in Denmark, DI has launched DI Entrepreneur. New companies established within the last five years and with at least one employee besides the entrepreneur can be associated to DI free of charge for one year.