Where to grow your business 2015
Grant Thornton, a large international network of independent accounting and consulting firms, just published their annual Global Dynamism Index (GDI) report for 2015 “Going beyond borders: Where to grow your business”. This index combines 22 indicators across five growth areas to rank the business growth environment of the 60 largest economies in the world. Finland shared with Australia the third overall ranking after Singapore and Israel. Sweden ranked as fourth and Norway as 8th. According to Grant Thornton, Finland and Sweden would be the most dynamic economies in Europe from a business perspective. Finland and Sweden ranked high in “Business operating environment” and “Technology”.
In international comparison the strengths of the Nordic countries lies in political and legal stability, a well developed financing environment as well as advanced technology and high R&D spending.
Finland and Sweden should, according to Grant Thornton, offer very good opportunities for you to grow your business.
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Nordea Bank published an outlook for the Nordic countries
The economic performance of the Nordic countries still varies. Sweden is clearly in the lead, with high growth and rising employment. Also the Danish economy has entered a stable recovery phase, although at a more modest pace. Meanwhile, the otherwise strong Norwegian economy is losing steam due to the sharp drop in oil prices, and Finland is still lagging behind the other Nordics due to weak domestic demand and the slowdown of the Russian economy.
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Advantage of Finland’s lower corporate tax rate
On August 11th the Finnish crane and lifting company Konecranes announced an all-stock merger with the Connecticut based heavy equipment company Terex corporation. The new company will be based in Finland and be an industry leader with $10bn in annual revenues and a combined market value of $5.7bn. According to Financial Times the new company will be able to take advantage of Finland’s 20 per cent corporate tax rate — rather than the 35 per cent rate for US companies.
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Finland and Sweden “Sleeping Giants of Mining”
Finland and Sweden are shaping up as a new exploration frontier for mining companies, as they widen their global hunt for metals from nickel to gold, according to Sirius Resources NL.
A lack of exploration around existing mines in the two nations and a natural endowment of metals mark them out as a key target, Sirius Chief Executive Officer Mark Bennett said in an interview.
“Finland and Sweden are both really well endowed with gold, nickel, copper and zinc deposits,” Bennett said Monday in an interview in Kalgoorlie, Western Australia. “That’s our sleeping giant, if you like.”
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