Starting a business is no easy feat, especially for women. However, Iceland has created an environment that is perfect for women entrepreneurs and business owners. With a thriving economy, a supportive government, and a strong female presence in the business sector, Iceland stands out as the perfect place to launch a female-led business. In this post, we will discuss four of the top reasons why Iceland is the best place to start a female-led business.
There’s no gender pay gap in Iceland
When it comes to supporting female-led businesses, Iceland is setting a great example. In fact, Iceland recently became the first country in the world to introduce a law to ensure gender pay equality. This means that any company with 25 or more employees must prove that they are providing equal pay for the same work, regardless of gender.
This is an important development for female entrepreneurs, as it means that they will no longer face discrimination when it comes to wages and salaries. Furthermore, this law has been very effective, with Iceland now having one of the smallest gender pay gaps in the world.
Icelandic women have been in the workforce for decades
Iceland is known for its progressive gender equality, and this applies to the labour force as well. Women have been able to pursue professional careers in Iceland since the turn of the 20th century, with some of the first Icelandic female workers being employed in the fishing industry. This trend has continued over the years, and today women make up around 45% of the labour force.
In addition to providing professional opportunities, Iceland has also made it easier for women to pursue their dreams and passions. For example, glacier caving in Iceland has become a popular activity for adventurous female travellers who want to explore the stunning beauty of Iceland’s glaciers. There are numerous companies that offer glacier caving tours and activities, providing opportunities for women to experience something new and exciting while also supporting the local economy.
Icelandic businesses are supportive of female entrepreneurs
The Icelandic government has been working hard to increase the number of female entrepreneurs in the country. To support female-led businesses, the government has implemented a variety of initiatives. One such initiative is a special loan program specifically designed to help female entrepreneurs get their businesses off the ground. This loan program, known as the “Women’s Business Initiative”, provides female entrepreneurs with low-interest loans and access to mentors and resources that can help them succeed in their business ventures.
The Icelandic government also offers a variety of grants and subsidies to female entrepreneurs. These grants are designed to cover costs associated with starting a business such as marketing, travel expenses, and training courses.
The cost of living and doing business in Iceland is relatively low
Iceland has a high standard of living, but its cost of living is relatively low compared to other European countries. The cost of renting an office space or a home is affordable and businesses are able to access government-funded subsidies to support the growth of their venture. In addition, the cost of energy and utilities in Iceland is among the lowest in Europe. For those wishing to start a business, there are no taxes on capital gains or corporate profits, meaning that entrepreneurs are able to keep more of their profits and reinvest in their business.