The main Swedish industries include motor vehicles, telecommunications, pharmaceuticals, industrial machines, precision equipment, chemical goods, home goods and appliances, forestry, iron, and steel.
The large amount of multinational corporations present in Sweden has not only created an important domestic market, it has also paved the way for a world-class infrastructure. Sweden’s strong public finances, sound banking system, political stability and well-performing economy make it a robust place to run a business.
These are the major macroeconomic features of the Swedish investment environment:
- Forward thinking and business friendly
Sweden has an international business environment that is modern, open and business friendly. Skilled professionals, polished business procedures, and receptivity to international partnerships make it an easy country to operate in. Also, the Swedish corporate tax rate is low by international standards and is solely based on a company’s annual profit.
- Sharp brains and open minds
Synergies generated by the close connection between Swedish universities, research institutes and the private sector leverage the R&D output. After Silicon Valley, Stockholm is the second most prolific tech hub globally. Spotify, King, Truecaller, Klarna and Mojang are just some of the Swedish startups that have received international attention recently. Add to those well-known brands such as IKEA, Volvo, H&M and Ericsson and it becomes clear why Forbes has listed Sweden among the top five best countries to do business in.
- Quality and efficiency at heart
Swedish labour costs remain competitive as Sweden has one of the world’s most well educated workforces and at the same time the most productive and hard working. Empowerment of personnel and delegation of decision-making ensures a bottom-up, problem-solving approach that shows impressive results with regards to quality and productivity.
- Full access to Europe
As part of the European Union, Sweden provides easy access to a market of 28 countries and 500 million consumers. The Nordic market only – Sweden, Denmark, Finland and Norway – makes up the 11th largest economy in the world. The large amount of multinational corporations present in Sweden has not only created an important domestic market, it has also paved the way for a world-class infrastructure.
- Stability and sustainability by default
Sweden’s strong public finances, sound banking system, political stability and well-performing economy make it a robust place to run a business.
- In addition to these features, the most important benefit for moving and working in Sweden is the social welfare and support system that offers security for family and children second to none anywhere in the world. See video below for more details.