There has been a rapid increase in the number of foreign companies that are opening up for business in the Swedish market in recent years. Countries like Finland, Norway, Russia, Ukraine, Lithuania, Latvia, and Estonia are taking advantage of the friendly and highly competitive Swedish business environment to invest in the countries rich economy.
Stockholm, which is regarded as the economic capital of Sweden, has witnessed a rise in the number of businesses, business development and other forms of investment. Many big companies such as Spotify, King, Erricson, Klarna, etc. are all doing business in Stockholm because of its favorable business climate.
There are several reasons why Sweden remains the hub of investment in the world, and they include the following:
- Connectivity
Stockholm enjoys good road and internet connectivity. It is no longer news that Amazon’s web service is establishing data centers in Stockholm. Amazon believes that Northern Europe and the Nordics can easily connect to their services. Over 93 percent of the Swedish population makes use of the internet on a regular basis, which puts them among the top ten countries with the highest internet users in the world.
- Stockholm is an international hub
Stockholm is not just a gateway to the Nordic nations. It is also a great place to do business for both the local and international markets. The city is regarded as an internationalized business center. Goods and services are exported from Sweden to the rest of the world, which gives the country a profound knowledge of international cultures that promotes a healthy business environment for most foreign investors.
There is no communication barrier as the business communities in Stockholm speaks fluent English, thus paving the way for companies from all over the world to thrive in the region.
- Space for growth
With the good economic and political stability in the country, Sweden is a place that offers expansion and growth for many new and existing companies. Sweden has a large market that can accommodate the growing number of companies in terms of workforce and sales. Getting the required skilled manpower to carry out industry operations is not an issue because Sweden is a country that has a readily available, highly skilled workforce.
- Tech-heavy industry
Sweden has a lot of tech-heavy industries that make up the highly competitive business environment. These industries contribute to the growing rise of industrialization that has placed Sweden among the top destination for investment.
- New opportunity
If you are looking to explore a new business opportunity in terms of investment, then one very significant place that should come to your mind is Sweden. There are lots of untapped potentials in the business world that Sweden provides to both local and foreign investors.
- Low energy costs
Cost of power is one of the critical criteria for setting up a business in a particular location. Sweden boasts of a 98% highly renewable source of power. In the EU, Sweden provides the cheapest cost of power with a focus on green and sustainable energy development.
Investing in Sweden is both profitable and highly beneficial to different organizations but globally and locally. The country still has a lot of unexploited markets that boast of a very high purchasing power. If you want your business to thrive well in Sweden, ensure that your products and services are contemporary and innovative.