Go Nordic? Get a free education and then start a business
The Nordic countries Finland,Norway,Iceland and Sweden are some of the very few countries in the world that actually offers free university studies to citizens from all over the world. Even though it’s become a bit harder to get into a university as a Non-EU citizen it’s still very much possible to get free high level tuition at several well renowned places. If you are a EU-citizen most of the studies are completely free from any cost, however in the wake of Brexit, UK students going to Scandinavia might soon have similar terms to the one US students have today.
All public colleges in Iceland are free for American citizens and this includes The University of Iceland located in the capital Reykjavik, however you will have pay an annual registration fee of ISK 75,000 (around £600). Most Norwegian institutions do not require fees from the students and many of their master’s degrees are taught in English. In Sweden many universities provide free PhD tuition in English or Swedish, but you will need a residence permit before you enter the country and US students have to apply to study in Sweden (application fee is 900 SEK about £90). In Finland studies used to be free and some still are but in many cases US students now have to pay for their university studies.
Adjusting to the Scandinavian mentality can be quite challenging, as people up north in general are not very outgoing and open. But you should not see this as a sign that people don’t like you or are not interested, this is just the way most people go about their lives in countries close to the north pole. Once you get to know the Swedes and Finns they are friendly and loyal. If you like the Scandinavian lifestyle and manage to adopt to the new culture, the Nordic countries in fact have a lot more than just free tuition to offer. Norway is one of the most beautiful countries in the world and people are crazy about skiing. Sweden are very progressive and are pushing equality on every level of the society. Denmark has a little bit more continental feel to it and they are if you are into medical studies and work this is a great country to get your career going. Finland and Iceland are more traditionally Nordic countries, with high emphasis on education and and knowledge.
Getting into business after studies
I recent years tech startups and small business have boomed and the gig economy also is growing in the Nordic countries. Stockholm is considered the startup capital of Europe since Spotify and Minecraft.
The Nordic countries has great infrastructure and low corruption levels making it very easy to start a new business. On the other hand taxes are high and hiring people are really expensive.
Even so, Scandinavia really is quite a good place for young entrepreneurs to start their own business as the competition is considerably lower then in other places around the world and setting up a business is not to expensive.
Sure applying for an ordinary job position certainly is possible with a good education, still it is certainly also possible to start your own small business and work as an consultant. Truth be told this is probably the best way to get a good salary quickly, as many companies are really screaming for highly qualified technicians, programmers and legal advisers.
If you do decided to stay after your studies and are willing to try building your own business you should be aware that it’s quite hard to get hold of financing. Business bank loans are in general very hard to get hold of and most people are forced to finance their early startups lending money from family and friends.
As a foreigner without a local network the hardest part would probably be to get the ball rolling. But if lack of money really is whats hindering your progress you could also look in to alternative startup financing options like crowdfunding and EU-backed SEF-loans.
Once your business is up and running, you will probably at first find the taxes unjust and far to high but just remember that the same taxes are being used to finance some other students university studies!
*This is a collaborative post.
