We at 1Office have been witnessing growing number of foreign companies entering the Swedish market, specially in the last two years. The interest towards Swedish market comes from Estonia, Latvia, Lithuania, Poland, Finland, Norway, also Ukraine and Russia.

Some of the reasons why companies have chosen Sweden as their new destination have to do with the world-class infrastructure, highly-skilled workforce, low level of corruption, little bureaucracy and a friendly business culture.

Swedish business climate is very favourable for foreign direct investments. That is why it does not come as a surprise that it is a country of innovation. Companies such as Ericsson, Volvo, Astra Zeneca and Sandvik have emerged from Sweden. Spotify, Klarna and iZettle are businesses that were built on innovations.

Access to the European Union and Nordic market

Sweden joined the European Union already in 1995. As part of the Union, Sweden provides access to a market of 28 countries and 510 million consumers.

As the largest market in Scandinavia, Sweden is the ideal location for centralised construction operations in Northern Europe. For its size, Sweden is one of the world’s biggest beneficiaries of foreign investment.

The Nordic economies are among the countries in the Western World with the best macroeconomic performance in the recent ten years. Sweden, Norway, Denmark and Finland are in the top 10 largest economies in the world, with a high level of purchasing power.

Stable and innovative economy

Sweden’s strong public finances, sound banking system, political stability and well-performing economy make it a robust place to run a business. Sweden boasts excellent infrastructure through extensive public investments. The government has allocated SEK 522 billion (€56 billion) for infrastructure projects over the next decade.

It is also one of the top countries in the world in terms of R&D investments, in relation to GDP. Swedish companies benefit from working closely with research institutes for new materials, and with industry to develop products for them.

Conclusion

Even though the country has an unexploited market with strong sales potential and purchasing power, the competition is naturally fierce. To do well in Sweden make sure your products and services are innovative, contemporary and you have integrated after-sale service well into your value proposition.

Source: The Swedish Trade & Invest Council