Seminar - Business Opportunities in Denmark
Inga Lapinskaitė-Mikalauskė, Board Member of the Lithuanian Chamber of Commerce in Denmark, was recently invited as a guest speaker at the seminar "Business Opportunities in Denmark," hosted by Kauno prekybos, pramonės ir amatų rūmai (Kaunas PPA). During her presentation, she delved into various aspects of doing business in Denmark. In this article we will explore the key topics covered in this insightful session.
Denmark: A country of stability and opportunity
Lapinskaitė-Mikalauskė kicked off the seminar by highlighting Denmark's status as a global leader in stability, transparency, and growth. Her slides showcased Denmark's impressive GDP, exceeding $355 billion, and its well-established reputation for a high standard of living, strong infrastructure, and a robust business environment.
Further she focused on specific sectors in Denmark that offer promising opportunities for businesses. Lapinskaitė-Mikalauskė pointed to:
Renewable Energy: Denmark's position as a frontrunner in renewable energy was emphasised, with Esbjerg being a prime example – a city aptly nicknamed the "wind energy capital."
Pharmaceuticals: The presentation highlighted Denmark's leading role in the pharmaceutical industry, creating high-value healthcare solutions.
Food Production: The focus on sustainability and high quality in Danish food production.
IT and Telecommunications: Inga's slides showcased Denmark's reputation for IT innovation, with the country being a pioneer in implementing the "smart cities" concept.
Understanding the Danish business landscape and Danish consumers
The seminar delved into the core principles that shape Danish business culture. Lapinskaitė-Mikalauskė's speech emphasised the importance of openness, transparency, and equality. Open communication, a willingness to embrace new ideas, and valuing everyone's contribution were identified as essential aspects of succeeding in the Danish market.
Understanding Danish consumer preferences is crucial for success. The seminar explored following Danish-culture related preferences:
High-quality products with a focus on sustainability
Appreciation for design and innovation
Brands that tell a story, are authentic, and have a clear value system
Cultural considerations for Lithuanian businesses
Inga dedicated a portion of her presentation to cultural considerations for Lithuanian businesses entering the Danish market. Open and direct communication, marketing that reflects Danish values of equality and inclusivity, and leveraging traditions like "hygge" to build connections were all identified as key strategies.
Navigating the legal landscape and the role of trade unions
The seminar also provided a foundational understanding of the Danish legal system, emphasising its clarity, efficiency, and adherence to international standards. Key regulatory acts governing business were also discussed.
Lapinskaitė-Mikalauskė also explained the significant influence of trade unions in Denmark. Their role in advocating for worker's rights, shaping labor market policies, and collective bargaining. The importance of potentially joining employer associations for businesses entering the market was also emphasised.
Nuotr. © Kaunas PPA