The old idiom “When in Rome, do as the Romans do” doesn’t just apply to Italy – it’s imperative when expanding your business in Sweden, too! Anytime your business wishes to serve another country, you’ll need to learn the way they do business and adapt your practices to meet their needs.

Just as you wouldn’t extend your hand to a Japanese CEO or use your left hand in Indonesia, you must also understand what’s acceptable and what’s forbidden when discussing and conducting business in Sweden.

One of the most critical elements when growing your footprint in Sweden is to master the way they speak. Using the correct terminology and adapting to the local vernacular will be party responsible for your success or failure.

Let’s look at some core business concepts in Sweden and how you can prepare your business for international success.

Core Business Concepts in Sweden

A country’s business is often based on the foundation of the country’s values. In Sweden, those values embody all aspects of modesty, equality, and respect for human rights. They’re an inclusive society that makes distinctions based on nationality rather than race or appearances. Socialist ideals are in abundance, along with an extensive welfare system.

In business, respect and consideration go a long way when arranging meetings, discussing topics, or making negotiations.

Most notable are the following:

• It’s customary to arrange meetings two weeks in advance.
• Business cards are shared at the beginning of meetings.
• Meetings are often informal enough to use a first-name basis.
• Small talk is virtually non-existent.
• Decisions aren’t often made during first meetings.
• Decisions usually require group consensus.
• Peak holiday periods are February through March and June through August.
• Refreshment breaks, called fika, are often used for informal meetings.

Understandably, it’s just as important to understand how to conduct business in Sweden as it is to talk about business in Sweden. American customs don’t directly translate into the Swedish business culture, and believing otherwise could be just as damaging as a linguistic mistranslation.

Swedish Translation Services Are Business Must-Haves

If you’re targeting the Swedish market, Investing in Swedish translation services is non-negotiable. Proper translations ensure you’re not only using the right vernacular, but also following proper business policy and practices for the Swedish business culture.

A professional translator helps you bridge this wide (and often scary) gap between American and Swedish business ideologies. Translators shift away from word-to-word translation in favor of localized linguistics that match the appropriate business cases.

To find out more about Swedish translation services and how translators can help you navigate the specifics of international business, contact Tess for a free consultation.

Check also:

• Swedish Culture 101: Holidays, Key Facts, Typical Traits & More
• 5 “Odd” Features of Swedish Business Culture that Actually Make Sense
• Don’t Let Cultural Ignorance Ruin Your Perfectly Good Translation (and Brand!)

As businesses grow, many owners begin to consider expanding internationally, yet it can be difficult to determine the best country for expansion. One country that businesses should consider is expanding and exporting to Sweden, which the World Bank Report says is the 14th easiest country for doing business.

There are several reasons why companies in the United States find it easy to do business in Sweden, with one of the most important being that English is widely spoken in the country. However, there are some things to understand before deciding to expand your business by exporting to Sweden.

4 Key Reasons for Doing Business in Sweden

1. Economic Growth

Sweden was able to avoid the financial problems that many other countries suffered during the recent economic crisis. Growth remains strong and economic experts predict that the gross domestic product (GDP) in Sweden will be at 2.6 percent in 2015. Unemployment is at 8.5 percent and industries expected to grow over the next few years include advanced manufacturing and engineering services along with information communications technology.

2. Market Opportunities

There are many market opportunities for US companies that export to Sweden. The country has had a long tradition of expertise in shipbuilding, mining, life sciences as well as engineering. There is an ongoing demand for products and services that increase productivity, such as IT products, safety, security equipment, and, like many countries, cyber security. Sweden is strongly committed to sustainability, so there are many opportunities for earth-friendly innovations. Sweden is an excellent test market for new technologies as citizens are open to new technology. English is widely spoken and the Swedish kroner is strong, making products produced in the US price competitive.

3. Business Challenges

Despite the fact that Sweden is ranked as one of the best countries for expansion, exporting to Sweden does not come without challenges. There is strong competition from developing countries for market share in Sweden, mainly because as members of the European Union, developing countries are given significant duty reductions in order to promote economic growth in those countries. The Value-added Tax Rate (VAT) is 25 percent on items exported into Sweden. In addition, Sweden has a high cost of living, resulting in much more expensive labor and high individual tax rates. In fact, individual tax rates and labor costs in Sweden are some of the highest in the world.

4. Business Culture

The Swedish put a significant amount of credence in punctuality so it is critical that those doing business in the country be on time for meetings and social engagements. If you must be late, it is very important that you call and let the person you are meeting know as tardiness is considered poor etiquette in Sweden. Swedish people tend not to be spontaneous, preferring to schedule and plan their activities. If you are invited to dinner at the home of a business colleague while working in Sweden, gifts are expected. Flowers, wine, cake or chocolate are appropriate gifts. If there are young children, small gifts should be brought for them as well.

Swedish companies have less hierarchy than other countries so that managers are more accessible to employees. With less chain-of-command, it is not unusual for an employee to take questions or concerns directly to the head of the company. Employees are permitted to take frequent breaks, known as “fika” throughout the day. Those breaks are sacred and it is not unusual for employees or managers to be unavailable during those times.

Even More Reasons to Sell to Sweden

1. Sweden itself has 9 million inhabitants, but if you include its neighbors and the Baltic Sea region, you end up with about 100 million consumers. Sweden’s central location makes it attractive as a base for call centers and distribution centers, as well as direct marketing activities.

2. Sweden has among the top standards of living in the world.

3. Sweden is known as a country of early adopters, both for products and trends. Many companies are using Sweden to try out new products and services before launching them on a larger scale.

4. US Foreign Policy has ranked Sweden as the top three most globalized countries in the world, using examples such as Volvo, Saab, Ericsson and IKEA.

5. Ever since the Vikings, the importance of trade is firmly engrained in the country.

6. Sweden is committed to exploiting new technology and the country invests a lot in research and development. This makes Sweden a good center for collaboration, research labs and innovation.

7. The country provides excellent opportunities for international networking and collaboration with its enormous pool of technical talent and excellent educational system.

8. Sweden ranks among the top recipients of foreign direct investment, with the majority being technology based.

9. Sweden has been called the most wired and wireless nation on earth where most people have a computer and use the Internet daily.

10. The following sectors are popular opportunities for exports: Computer Software, Travel & Tourism, Computer Hardware, Biotechnology, Automotive parts, Telecommunications services, Renewable Energy Equipment, Pollution Control Equipment, Drugs and Pharmaceuticals, Telecommunications Equipment, Security and Safety Equipment, Sports and Leisure Products.

Choose Sweden for Your Next Market Launch

For companies considering expansion globally, Sweden offers many excellent opportunities. However, it is important to know some of the challenges you may face and to understand the culture of the business people you will work with should you decide to begin exporting to Sweden. Swedish Translation Services can help you with your marketing message, website and product info to reach the Swedish customer.

Photo Credit: Stuart Miles – freedigitalphotos.net

Check also:

• Doing Business in Sweden: 9 Helpful Resources
• Business Opportunities in Sweden: 4 Opportunities for Tech-Savvy U.S. Companies
• Ten Unwritten Rules of Swedish Business Etiquette
• Interesting Facts on Doing Business in Sweden from SACC

This article explains 5 aspects of Swedish business culture with an Anglo perspective in mind.

Science and Technology Center

Sweden is an advanced nation known for its high-tech market, so it should come as no surprise that business opportunities in Sweden are geared toward tech-savvy companies.

If your team has the knowledge and skills to stand proud alongside Swedish engineers and techies, keep reading to learn about 4 big opportunities for U.S. companies in Sweden.

1. Information Technology (IT)
Sweden is an IT superstar, consistently ranked among the top countries in the world in terms of networked readiness, global connectedness, and ability to use the Internet to improve people’s lives.

However, this doesn’t mean there’s no room left for U.S. companies. Providing IT solutions to growing industries like education, healthcare, and business infrastructure and services presents a huge opportunity for techies interested in the Swedish market.

2. Healthcare and the Life Sciences
The healthcare industry is one of the biggest and fastest-growing on the planet. Healthcare is an especially profitable field in highly-developed countries like Sweden, where advances in technology and an aging population present new opportunities to improve the human condition.

Better yet, Sweden enjoys the highest per capita expenditures on life science research in Europe, creating an enviable environment for pharmaceutical companies and other players in the healthcare field.

3. Renewable Energy
As illustrated by viral international news reports that that Sweden has run out of garbage, Sweden’s commitment to renewable energy and sustainable living is difficult to rival.

As the country continues to move toward an even “greener” future, business opportunities in Sweden are plentiful for companies interested in the following areas:

Bioenergy
Biofuels
Solar power
Wind power
Geothermal heating
Waste-to-energy systems
Sustainable wastewater treatment
Electric vehicles

4. Manufacturing and Materials Technology
With plentiful natural resources, highly-skilled engineers, and a network of R&D centers focused on materials, Sweden is an attractive location for many players in the industrial and engineering arenas, especially those who wish to develop and test new materials.

This is particularly true for companies interested in cutting-edge areas like nanomaterials, bionanotechnology, and nanoelectronics. American companies looking to enter the nanotech field may wish to begin by reviewing a listing of nanotechnology companies in Sweden.

As you can see, many of the leading business opportunities in Sweden for U.S. companies are in fields that are becoming increasingly important all over the world. That should also come as no surprise, since Sweden tends to be on the cutting edge of research and innovation.

One last thing before you go: I have a professional background in IT myself, so if you are interested in pursuing the first of the business opportunities in Sweden listed here, please stop by my software and website localization page to find out how I can become a valuable member of your team.

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Although Sweden offers an open business environment relatively free of bureaucratic red tape, doing business in Sweden can still be confusing if you don’t know where to turn for assistance.

This article will help by introducing you to 9 great resources that can get you started on the right path.

1. Sweden.se

Sweden’s official promotional website, Sweden.se provides a reliable resource for facts about Sweden. The information on this website is broken down into 6 main categories: society, culture, traditions, nature, business, and quick facts.

2. Europages.co.uk/companies/Sweden/Sweden.html

Europages is a portal for and directory of European companies intended to encourage business-to-business interactions. The link above provides a list of Swedish businesses; looking through it could be your first step to finding a local partner.

3. Startupoverseas.co.uk

Startup Overseas is a resource intended to help you launch or expand a business outside of the United Kingdom. There, you can find information about starting a business in or expanding a business to Sweden, buying a business or franchise in Sweden, and importing or exporting to Sweden, along with a list of experts ready to answer your questions about doing business in Sweden.

4. Business-Sweden.se

Jointly owned by the government of Sweden and Swedish private industry, respectively represented by the Ministry for Foreign Affairs and the Swedish Foreign Trade Association, Business Sweden facilitates foreign investment in Swedish organizations and international growth for Swedish companies. Business Sweden can provide strategic investment advice, matchmaking and introductions to public and private Swedish companies and organizations, meeting arrangements in Sweden, and much more.

5. Swedish Chamber of Commerce for the United Kingdom

The Swedish Chamber of Commerce for the United Kingdom is a non-profit organization that promotes the exchange of ideas and experiences, along with networking and trade, between Sweden and the U.K. This organization can help you with various aspects of doing business in Sweden, including setting up introductions, references, company visits, and study visits, along with providing event management services.

6. Swedish-American Chambers of Commerce

SACC-USA is grassroots nonprofit organization that facilitates and supports trade, commerce, and investment between the U.S. and Sweden. This organization’s offerings include the Business Accelerator Program, the Swedish-American Membership Directory, the Entrepreneurial Days trade and networking event, and a Trainee Program designed to provide U.S. companies with qualified trainees from Sweden.

7. Stockholm International Fairs and Congress Centre

The Stockholm International Fairs and Congress Centre, known in Sweden as Stockholmsmässan, but colloquially called Älvsjömässan, arranges trade fairs in Sweden’s capital city, Stockholm. Stockholmsmässan’s website is a great place to find information about upcoming exhibitions and events, as well as learn how to run your own.

8. Fairlink

A subsidiary of Scandinavian Survey Group, Fairlink strives to be a center of excellence serving the conference and exhibition industry. This organization provides extensive information about and training for Swedish trade fair organizers and presenters.

9. Svensk Handel

The Swedish Trade Federation, is an organization for Swedish employers that serves the entire commerce and trade sector. This organization offers commercial development and establishment advisory services within the retail trade sector.

Of course, I also hope that I can be a helpful resource to you as you begin the process of doing business in Sweden, both through the information provided on this blog and through my professional English to Swedish translation and localization services.

I wish you the best of luck!

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Yesterday, I attended part of “The Swedish Grammar Day” (Grammatikdagen), a national event presented by language consultants in Sweden and the Swedish teachers of Sweden. Grammar is oftentimes thought of as boring, but these people are trying to change that. Why do we need grammar? We use grammar to systematize our language and to be able to discuss our language.

I loved to read and write when I was growing up. I was always carrying a book around, and used to write novels with my friends. Grammar and spelling came naturally to me, and I can usually see when a sentence looks wrong, or if a word is spelled wrong. I did not need grammar more than for the reasons mentioned above. I grew up in a small Swedish speaking town in Finland, with a very peculiar dialect. The dialect was used for speaking with people, but in school we had to use “proper Swedish” and all our media was in proper Swedish. So in a way, I grew up with two languages. Finland is also a bilingual country and we had to start learning Finnish from third grade in school, even though hardly anyone spoke it where I lived. In fifth grade, we started studying English and I have gradually added languages during my education, up to a total of six languages. When learning other languages it is very useful to know the grammar of your own language first, in order to be able to distinguish it from the grammar of other languages. You learn to systematize the languages. So, with my love for languages, my love for grammar grew.

I discussed with some Swedish language consultants yesterday, about being a language nerd, and we concluded that we really can say we are language nerd if we love to read this magazine called “Språk”, which discusses the development of the Swedish language and grammar. We think it is fun to discuss the intricacies of the Swedish language. That is nerdy! I am officially a language nerd and proud of it. It is good to be a language nerd if you are a translator. Are you a language nerd?

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• My Focus on Improving My Writing Skills in Swedish
  
• 6 Tips for Writing English for a Global Audience

As a Swedish translator I follow business news in Sweden, but particularly news from the Swedish American Chamber of Commerce (SACC). US and Sweden have a long history of thriving business relations with each other. Here are some interesting statistics about the Swedish business climate from SACC:

>> Sweden’s business sector is unique for its large number of multinational corporations in relation to the relative size of the national economy.

>> Sweden places third in economic competitiveness within the EU, after Switzerland and Denmark (Source: World Economic Forum, 2008-2009).

>> Sweden is ranked as number four in economic competitiveness (Source: World Economic Forum, 2009-2010).

>> Sweden is ranked number one when it comes to technological readiness (Source: World Economic Forum, 2009-2010)

>> In 2008, there were more than 12,800 foreign-owned companies employing a total of 620,000 Swedes. USA was the country with the most IT companies, 241 and almost 12,000 employees. (Source: Only in Swedish; Tillväxtanaly)

>> Sweden is foremost in innovation capability (Source: Global Summary Innovation Index; Trendchart, 2007).

>> The highest internet penetration in Europe; 80% (Source: Invest in Sweden Agency)

> Sweden was in 2008 ranked number 18 as one of the leading exporters and importers in world trade in commercial services. (Source: WTO)

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