Home » Business Ideas » Doing business in Norway? Get the tips

Doing business in Norway? Get the tips

It is easier than ever to do business in Norway, as many requirements have been eliminated. Norway is ranked as one of the most business-friendly nations in the world. Also, it has a strong economy. It would be stupid not to start your own company. The population may be small but tis purchasing power will surprise you. There are countless opportunities for entrepreneurs looking for work. So, what are you waiting for? Keep on reading to discover what it takes to succeed in Norway.

Understand the business culture

If you want to do business in Norway and registrere bedrift, have a good understanding of the business culture. To be more precise, become familiar with the values, beliefs, and practices of the country. Not surprisingly, Norwegians strongly believe in egalitarianism. This means that al people are equal and they deserve equal rights and opportunities. You are unlikely to see a hierarchy, flat structures, or informal communication. Managers do not exert their authority, responsibilities are shared, not to say that titles are never used. People address each other by their names. Relationships are based on respect for competence and punctuality is appreciated. If you invite people over for lunch or dinner, do not serve too much alcohol. Since you are the one making the invitations, you will pay the bill.

Become fluent in the local language

You have to speak the language if you want to invest in Norway. If you od not speak the same language as your business clients, you will not be able to communicate efficiently. Besides learning how to say hello, good-bye, thank you, please, etc., you must master the technical language of accounting. So, after you registrere firma, look into the accounting terminology. Learn everything there is to know about revenues, expenses, assets, liabilities, and so on. You will be dealing with financially educated clients, so it is best to know the words. Learning Norwegian is not as hard as you may think. If you are an English speaker, it will be a breeze because it is a Germanic language. Translation agencies are available in case you need help.

Know the business laws and regulations

Companies are subject to many laws and regulations, which are related to employment intellectual property, as well as other matters. When you are ready to start bedrift and transform your dream into reality, find out everything you can about the current rules and regulations. The legal system is impartial and efficient, so there is predictability when doing business. Business law is based on the principle of freedom of contract. This translates into the fact that private, as well as public individuals, can form agreements without restrictions. It is a good idea to register your company with the Central Coordinating Register for Legal Entities. The role of this entity is to preserve information about juristic persons. Registration is free of charge. If you have more than five employees, you are obliged to register with the Norwegian registry. Provide relevant information about your legal entity.

Recent Posts