Five important things to keep in mind when doing business with Danes
Be prepared for honesty!
Danish business people are very direct – they say what they think. Business wise it is a great quality, since you will know what you are dealing with and will receive straight answers.
When the agreement is signed, the price negotiations start!
In business relations Danes are pragmatic, fast and not too cautious. It is easy to enter into an agreement with a Dane. He would however always like to have the pricing issue open for further negotiations and haggling is a national sport.
Danes keep their business life and private life separated!
Do not get surprised if the person you became good friends with yesterday at the pub keeps a distance and is slightly aggressive when you meet the next day for business negotiations.
Denmark is also digitalized, but not to the same extent as Estonia
Also in Denmark you can register a limited liability company within a couple of hours. All information from public authorities in Denmark is sent to your digital inbox.
Just be yourself but emphasize our Nordic features and our common history and Danes will feel more comfortable doing business with Estonians when they understand that we share much of our cultural background.
NJORD partner Karolina Ullman will be more than happy to help you if you have any questions regarding doing business with Danes.
During the first half of every year, all companies are working hard to submit their annual reports. Annual reports must be submitted within six months after the fiscal year has ended. The submission deadline is usually June 30. Since the management board of a company must assemble all shareholders or stockholders at least once a year to approve the annual report, the following topics should be considered under the Estonian law.
For a long time, the legal position for combined carriage of goods by road has been more or less unclear. The Danish Transport, Building and Housing Authority has however recently issued an executive order implementing the rules of the so-called 'Combi Directive' (EU Directive 92/106). The executive order will come into force on July 1, 2018. In addition to implementing the directive, the executive order contains some 'new' rules that will clarify to what extent it is possible for foreign carriers to perform combined transport to and from Denmark.
Travelling in Nordic countries during summer time might trigger your Estonian entrepreneurial mind to start thinking about how to reach these neighbouring markets with your products and services. Great! But, before you start, make sure to do your homework and do not expect anything to happen during the period starting from Midsummer until mid-August, as summer is long and lazy for our dear neighbours.