The Nordic countries (Sweden, Finland, Denmark, Norway and Iceland) consistently rank among the most entrepreneurial and business-friendly nations in the world.
Nordic life celebrates the individual and these countries value a capitalistic system that is centered around innovation. People from Nordic countries have a high level of education that focuses from a young age on problem-solving and critical thinking. Most people are multilingual and in recent years, the region has topped the global happiness rankings done by the UN Sustainable Development Solutions Network.
Examples of well-known companies that started in the Nordic countries include: Lego, Spotify, IKEA, Oatly, Ericsson, Volvo, Vestas, ABB, Maersk, Electrolux, Kone, Carlsberg, Takeda Pharma, Novo Nordisk, H&M, and Icelandair.
Many companies from outside this region test new products and concepts in these countries before the most promising ones are rolled out into larger markets, like the UK, Germany and the US.
A few examples of companies from this region that have expanded to the US are Einride, Klarna, and Local Greens USA. Einride is a Swedish electric autonomous freight company that is working with Coca-Cola, Oatly, Lidl, Electrolux and others. Klarna is a Swedish fintech company that provides online financial services,including online storefronts, direct payments and post-purchase payments. Local Greens USA is a Finnish indoor farming company.