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The Viking Spirit: BAM In and From the Nordic Region

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We share 4 short excerpts of BAM stories both in and from the Nordic region. For the full case studies, see the BAM Global Think Tank report on BAM In and From the Nordic Region.

BAM In the Nordic Region

Hans Nielsen Hauge: Changing a nation 200 years ago

We might call Hans Nielsen Hauge the first social entrepreneur in the Nordic countries. Indeed it would also be true to say that he carried the values of business as mission as he clearly had a huge impact on individuals and society in financial, social and spiritual aspects.

As a serial entrepreneur he started as many as 30 companies in Norway within a period of 4 years in 1800-1804 – that is almost one company every second month. Busy man! These companies were not micro enterprises but rather larger scale industries such as factories, mills, ship yards, mines and printing presses.

Hauge traveled – mostly by foot – throughout most of Norway, from Tromso in the north to Denmark in the south. He held countless revival meetings, often after church services. In addition to his religious work, he offered practical advice, encouraging such things as settlements in Northern Norway and helping people start businesses.

As a social entrepreneur Hauge wasn’t motivated by becoming rich and did not pay dividends to shareholders. He was rather motivated to serve society. He plowed money back into the business and then turned operations and ownership over to others and moved on. His followers started many other industries in turn and in a period of extreme economic crisis, when almost all the prosperous timber barons and iron works owners went bankrupt because of the Napoleonic wars, he showed a way to prosperity for anyone with initiative. This led to a new rise in Norwegian economics some years after the independence in 1814. In this matter Hauge was but one of several contributors, but he was one of the most influential. He was especially influential in the way he combined economics and Christian morals: modesty, honesty and hard work, among others. Read more