Why Sweden?
The Frontrunner
Sweden is often seen as a frontrunner in adopting new technologies and setting new consumer trends more broadly. Thus, in Sweden products and services can be tested where there are already demanding customers and high levels of technical sophistication. Nowhere else is average market take-off so rapid, and Sweden’s test market for new technologies is ranked third after Iceland and Japan.
Worldclass Research
Foreign investors can benefit from Sweden in many ways. One way is to tap into the skills and technologies in our industry clusters and research institutions. Of special note are the cleantech, ICT, life sciences, automotive and materials science industries. These are all areas where Swedish companies excel and compete at highest international level. (Source: Invest in Sweden Agency)
Competitive Labor Costs Combined With Low Corporate Taxes
Over the course of recent decades, Sweden’s cost position has become increasingly competitive. Total salary costs in Sweden for a basket of 15 professional and administrative jobs are considerably below those found in Japan, Germany and France. Costs for manufacturing labor show an even more competitive pattern, with Swedish salary rates placed second-lowest among ten European nations assessed by a grouping of Swedish labor unions. At a flat tax rate of 26,3 percent, Swedish corporate tax rate is significantly lower than in many other European countries and OECD nations. The nation also has decreased business costs in comparison to other European countries. Why Sweden has a attractive corporate tax climate after all is because of:
- Competitive corporate taxes
- Capital gain exemptions on sales of subsidiaries
- Tax-exempt intra-group dividends
- Full tax relief on interest
- Tax relief for foreign key personnel
- Absence of thin capitalization rules
- Comprehensive tax treaties for the avoidance of double taxation with most countries
For more details: Invest in Sweden Agency
Big Private Sector
Private owned companies represent 90 % of the industrial production in the country. Service companies stands for 70 % of BNP. Agriculture stands for approximately 2 % of BNP and also employs 2 % of the workforce in the country.
Responsible, Advanced and Innovative Thinking
Sweden is by no means the land of “lagom” or normal. Instead, it is seen abroad as rather special – and attractive. Global surveys show that Sweden is associated with qualities like a high degree of technical skills, innovative and user-friendly design, quality and professionalism, advanced environmental thinking and social responsibility. We’re also considered to work in a non-hierarchical way and with flat leadership, and we’re seen as honest and dependable, open-minded and cooperative, democratic and egalitarian. This is something you can use. Who doesn’t want to do business with a partner like that?
ICT- Sweden’s is one of the fastest countries to adapt to new technologies both when it comes to businesses, public and the private sector. With possibilities for good R&D, early innovation and adaptation Sweden’s the perfect country for ICT.
Cleantech- With a well known heritage of being environmentally friendly, worldwide recognition and being a world leader when it comes to CleanTech, there are plenty of business opportunities in Sweden.
Life Sciences- With access to cutting edge technology, six medical universities recognized for there research, that’s the reason why Sweden’s the fourth largest biotechnology in Europe.
View the list of 10 reasons to invest in Sweden on Currents Online >>>
To read more about competitive industries: Invest in Sweden Agency
Go to the SACC Industry Guides for more information on the 3 specific industries above >>>
