Frontpage News 2016 Danish stock marke...

Danish stock market culture needs changing

17 March 2016

Press release
​Far too many small and medium-sized enterprises (SMEs) receive venture capital through the stock market. It impedes growth and job creation. According to the Danish Securities Dealers Association, which held its annual general meeting today, the Danish stock market culture needs to be changed.
Financing options for SMEs are not optimal. They need venture capital and that is a problem, as it restricts opportunities to create growth and jobs in society. SMEs are responsible for two-thirds of value creation and employment in the private sector.
“In order to ensure that these companies can continue to create growth and jobs in Denmark, they must have a sensible financial buffer in the form of equity or another form of responsible capital. We need to create better conditions for this to be possible,” Chairman of the Danish Securities Dealers Association, Claus Gregersen says. 

Growth, stock culture and stock market listings

The Danish Securities Dealers Association made it clear at its annual meeting that SMEs must have better conditions in order to go on the stock market and obtain capital for the benefit of jobs and savers’ coin purses. The Danish Securities Dealers Association is therefore launching a range of proposals on how the Danish stock market culture can be strengthened.
“There is a lot that suggests that it is the complexity of the Danish tax system and the high tax in particular that are hindrances to creating a wider Danish stock market culture. With our proposals, we are trying to come up with a range of ideas for how we can loosen up these barriers and change this culture,” Claus Gregersen says.
The proposals concern, amongst other things, more stock investments via pension payments, better possibilities for ownership transfer, less complicated taxation, exemptions for investments in SMEs and a so-called investment savings account.
“By introducing a Danish counterpart to the Swedish InvesteringsSparKonto (investment savings account), increasing the ceiling for annuity pension schemes, simplifying taxation of capital income and an adjustment of the rules on ownership transfer, we can increase the Danes’ desire to invest in shares in smaller companies and at the same time, give these companies better possibilities to obtain venture capital,” Claus Gregersen says.
You can find the entire memo (in Danish) about how we can strengthen Danish stock culture here:

Vækst aktiekultur og børsnoteringer – Analyse og forslag til løsninger
Further information:
Please contact Chairman of the Danish Securities Dealers Association, Claus Gregersen, tel.: +45 2122 7073
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