Do you know what the welfare state is? According to Wikipedia it is a “concept of government in which the state plays a key role in the protection and promotion of the social and economic well-being of its citizens”. But what does it mean in practice?
If you’ve read previous articles we wrote about being an entrepreneur then by now, you’ve already thought about the idea or the concept you want to build up. You’ve gathered the right group of people. You’ve thought about the investment you can make. But what about the tax issue?
The reason behind the high taxes is of course the welfare system. Everyone likes feeling safe about tomorrow, especially when you have a family, right? Denmark offers that, to both Danish people and foreigners. While paying taxes, you invest in the society, and you, as a part of this society will benefit directly.
We get what Casper is trying to say, but what if the taxes are simply too high? There is a risk of not being able to earn enough money. There is a risk of not having the possibility to pay to the government and cover your own living expenses.
The answer lies in motivation. It’s not about self-discipline either. You can discipline yourself to work day and night, to work during the weekends, but the motivation is the thing that keeps you engaged in long terms. Set the goal and be ready to give up something in order to get more in the future.
Young entrepreneurs should realise that they must turn their simple idea into a profitable one. Denmark offers one of the easiest ways to start a business with literarily 1 DKK. The government at the beginning of 2014 launched it this new program with start-ups in mind. You can register this type of company with only 1 DKK and then work your way towards the 50,000 DKK in share capital required to become an ApS later. This type allows you to start a business without the personal risk involved of an unlimited sole proprietorship company. So, your startup share capital will be 1 DKK and a registration fee of 670 DKK which is around €90.
So basically, if you want to start a project or create a company in Denmark, you would have the full support of the Danish government.
And that’s not all!
The sea of opportunities
As we already wrote, Casper Ravn-Sørensen is the angel investor that would be more than happy to enroll and help in your project.
I would say that if Denmark is your country, you want to work here and build your idea here – go for it. You will find right people to work with, find investors, such as myself and advantages that will help you start running. Of course, you will have to pay high taxes and be under control. You will have to follow the rules and follow the guidelines. But this is your decision. Just inform yourself before starting and take everything into consideration.
If you need more advices or tips from Casper, feel free to contact him personally!