In Norway, stimulation of the entrepreneurial spirit is a policy of national priority. Not surprising, knowing that the majority of the businesses our welfare will depend on 10 - 15 years from now do not yet exist. The general interest in starting one’s own business is stimulated for instance by competitions for prospective entrepreneurs and even TV programmes on how to transform business ideas into successful enterprises.
In simple terms one may say that Norway’s economic market and policy is based on the following pillars:
- Stabilize and counteract unemployment and inflation
- Stimulate industrial growth in all parts of the country
- Influence the structure of industry
- Influence the distribution of income
Regions with little industry are subject to more lenient taxation than other areas, for instance in the form of differentiated payroll tax. Also, credit institutions have been established to provide support to the regional industrial sector as well as agriculture, fisheries and certain other industries. The purpose of these schemes is to promote innovation, maintain traditional industry or prevent the sudden disappearance of local industry.
In addition to their financial and credit policies, the central authorities have implemented an income policy which involves taking measures to influence the outcome of the wage, agricultural and fisheries settlement negotiations and more.
The distribution of income is achieved primarily through the regulation of and rates for income tax and social benefits, including the National Insurance Scheme.
Tax agreements for research and development expenditures, as well as state support for research have been implemented to promote the growth of new industry..
Ministry of Trade and Industry