Nick Olsen, a Danish fitness aficionado relocated to the U.S. after falling in love with a woman from Utah. His voyage has led him to a successful career in the fitness industry in Salt Lake City, crafting unique workouts and building innovative equipment.
His multicultural lifestyle flavors his unique approach to fitness, combining his Danish origins with a newfound American way of life. Olsen even established a popular fitness venture in the U.S., x365 Fitness.
Despite his divorce, he elected to remain in America, appreciating the country’s business opportunities and his responsibility to his two children residing in Utah.
Olsen contends that the U.S. promotes entrepreneurship more than Denmark, nurturing a climate of risk-taking at the outset of business ventures. He reveals that the U.S. embraces a more open approach towards new businesses and innovation, compared to Denmark.
Setting up a business in Denmark, according to Olsen, can be a tasking process, requiring weeks to obtain necessary tax identifications before opening a bank account. This lengthy process can limit the business operation’s autonomy as it gradually becomes bank-dependent.
Alternatively, the U.S. provides a simpler, cost-effective model, where the Internal Revenue Service assigns immediate Employer Identification Numbers (EINs) to new businesses, allowing swift establishment of bank accounts. This aids even small businesses with limited budgets in getting their business off the ground.
But the Danish welfare system, while providing comprehensive protections for individuals, might be prohibitive for businesses. This system obliges entrepreneurs to pay high taxes to offer their employees benefits, thereby complicating business operations. The U.S., on the other hand, maintains lower taxes and less rigorous welfare obligations, thereby allowing businesses to thrive.
Olsen stresses that his U.S. base presents an advantageous business environment, better aligned with his career goals. Despite recognizing Denmark’s merits, he holds the U.S. in higher regard for its focus on freedom and entrepreneurial risk-taking.
After 15 years in Salt Lake City, Olsen concludes that the U.S. offers a more attractive proposition for business ventures, citing greater opportunities for success and wealth creation.
Combining his Danish experiences with the U.S.’ less bureaucratic business environment, Olsen explores new professional expansion avenues in America. He suggests that the American business culture’s competitive and fast-paced nature perfectly complements his personal aspirations and career objectives.
