You may think of Norway as a scenic place, with mountains, fjords, midnight sun and northern lights. Or perhaps you know about the nation’s slow, but steady transformation from a Viking society to a progressive welfare state based on openness and equality.
What you may not be aware of, however, is Norway’s qualities as a market for your business. In fact, there are a number of reasons why doing business in Norway provides great opportunities.
Let’s look at a few of them.
An unique economic position
When assessing Norway´s quality as a place for business a good place to start is to compare the country to the rest of the OECD nations.
The numbers are clear: Norway is ranked highly in all important aspects related to economy, employment, wages and living standards, according to the OECD Better Life Index.
The average household net adjusted disposable income per capita in Norway is USD 39 144 a year – compared with the OECD average of USD 30 490. About 75% of the working-age population aged 15 to 64 has a paying job which is higher than the OECD employment average of 66%.
The wages and other monetary benefits that come with employment are an important aspect of job quality. On average Norwegians earn USD 55 780 per year compared with the OECD average of USD 49 165. Should Norwegian workers become unemployed, they face an expected 2.8% loss of earnings, compared to the OECD average of 5.1%.
The green shift is already here
Equally important are other structural backbones of Norwegian society, such as a high level of education, social security, universal health care, high productivity and well-adjusted work-life balance – all factors relevant to the high ranking in the OECD Index.
But just as essential – and increasingly so – is Norway’s culture of innovation, which has spearheaded the nation’s position as a global leader in energy, technology and the maritime sector.
Norway`s culture of innovation – combined with rich natural resources, including renewable energy – has allowed Norway to embrace the green shift, and assume as a pioneer in the journey towards the zero-emission society of the future.
Norway’s technology clusters and innovation communities can provide your company with expertise, networks and potential business partners – allowing you to turn sustainability into a great business opportunity.
A good place to get started
Setting up shop in any new market can sometimes feel like a daunting task. Thankfully, Norway is one of the easiest countries in the world to do so, both for established companies and for start-ups, according to The World Bank’s Business Enabling Environment survey.
Thon Eiendom is one of Norway's leading property companies. With approximately 90 shopping centers in it`s portfolio and 65,000 square meters of retail premises in Oslo’s high streets, it’s a good place to get started.
Thon Eiendom is an award-winning company when it comes to innovation and sustainability, and the doors are open to new businesses. Carl Nicolai L. Vold, Head of Development in Thon’s Shopping Center Division.
– If you rent a space in one of our shopping centers, you’ll be be a part of an established community of businesses. Being part of marketing and sales campaigns, as well as local activities, helps facilitate growth in both your customer base and your turnover, says Vold.
For further advice on how to start doing business in Norway, the official investment promotion agency, Invest in Norway, provides a handy online guide with contact information and other useful tips. Your next step could be getting in touch with Thon Eiendom.
– Feel free to contact us. We’ll be happy to guide you along the way, says Carl Nicolai L. Vold