Export to Sweden
In Sweden, colleagues address each other in a casual way. From the classroom all the way to the boardroom, titles like ‘Mrs’ or ‘Dr’ are things of the past. Students and teachers, patients and doctors, employees and employers – everyone is on a first-name basis. Work clothing is often conservative, but casual. Employees may wear sandals or tennis shoes at the office, switching back to sturdier outdoor shoes when they head home.
The Swedish word ‘lagom’ is not just a word. It’s a concept that doesn’t easily translate into English. Essentially, ‘lagom’ means ‘just right’ or ‘adequate’ and can be used for just about anything. The ‘lagom’ concept or mentality exists in Swedish business as well. Employees, and many employers, often focus on doing exactly what’s needed and doing it well, rather than doing unnecessary things. This concept can be frustrating for foreigners to understand sometimes.
One distinct advantage for all Nordic countries for exporters is the common use of English in commerce. Business agreements are in English and reliable, travel and communication infrastructures are first-rate, and the area is one of the least corrupt, most high-tech, and most competitive regional economies in the world. Nordic countries are very dependent on international trade and experienced in exports, even with the high cost of labour and living costs. Although Nordic exports to the EU and GDPs are impacted some by financial problems of the southern EU countries, the Swedish economy remains strong, albeit with slower growth. For the foreseeable future, the main economic challenges for Sweden is the development of new job markets, especially for youth and entrepreneurs, with a high-cost welfare system without substantial increase in taxes. Sustainable development ranks high in importance to Swedish officials, and citizens. Swedish companies and the government express great interest in working with international companies on solutions to lower GHG, identified frequently in Sweden as “cleantech”. In parallel, Swedish companies also want to invest in overseas regions where sustainable infrastructure is supported strongly by regional governments. The Exportto Group organised a delegation from a dozen U.S. cities to visit Stockholm in 2010 when the city was the first EU capital, to work with companies on sustainable infrastructure and to develop commercial partnerships in this sector.
The Swedish word ‘lagom’ is not just a word. It’s a concept that doesn’t easily translate into English. Essentially, ‘lagom’ means ‘just right’ or ‘adequate’ and can be used for just about anything. The ‘lagom’ concept or mentality exists in Swedish business as well. Employees, and many employers, often focus on doing exactly what’s needed and doing it well, rather than doing unnecessary things. This concept can be frustrating for foreigners to understand sometimes.
One distinct advantage for all Nordic countries for exporters is the common use of English in commerce. Business agreements are in English and reliable, travel and communication infrastructures are first-rate, and the area is one of the least corrupt, most high-tech, and most competitive regional economies in the world. Nordic countries are very dependent on international trade and experienced in exports, even with the high cost of labour and living costs. Although Nordic exports to the EU and GDPs are impacted some by financial problems of the southern EU countries, the Swedish economy remains strong, albeit with slower growth. For the foreseeable future, the main economic challenges for Sweden is the development of new job markets, especially for youth and entrepreneurs, with a high-cost welfare system without substantial increase in taxes. Sustainable development ranks high in importance to Swedish officials, and citizens. Swedish companies and the government express great interest in working with international companies on solutions to lower GHG, identified frequently in Sweden as “cleantech”. In parallel, Swedish companies also want to invest in overseas regions where sustainable infrastructure is supported strongly by regional governments. The Exportto Group organised a delegation from a dozen U.S. cities to visit Stockholm in 2010 when the city was the first EU capital, to work with companies on sustainable infrastructure and to develop commercial partnerships in this sector.
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Sweden has knowledgeable consumers who enjoy a average per capita annual income higher than most of the rest of the world. Flexibility in distribution channels and consumer habits help mitigate government and EU controls.
Sweden often acts as a Nordic hub for many companies with new-to-market products. Whereas Stockholm can be a frequent stop for international visitors, depending on industry sectors, other major Nordic cities should be considered in travel itineraries. Agents and distributors are commonly used in the initial stage of market entry. First-hand visits are important since Nordic partners want first-hand assurance of company reliability and Nordic businesses want a likelihood of return on their investment of time. |
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The Nordic region also includes Iceland and also works in close cooperation with less developed Baltic partner posts in Latvia and Estonia. The Nordic-Baltic region represents a large and diversified region of 30 million people. As such, this region can be regarded as an economy the size of Canada’s or Spain’s.
Market Opportunities
Sweden is considered an ideal test market for new-to-market products, though an expensive one. Swedes are “early adopters”; or in
some cases, “adapters,” quick to follow or adapt to new trends, however demand for product quality is high, and would be market entrants should not underestimate the time it can take to do business in Sweden compared with say Denmark or Norway where the business culture is fundamentally different.
Market Opportunities
Sweden is considered an ideal test market for new-to-market products, though an expensive one. Swedes are “early adopters”; or in
some cases, “adapters,” quick to follow or adapt to new trends, however demand for product quality is high, and would be market entrants should not underestimate the time it can take to do business in Sweden compared with say Denmark or Norway where the business culture is fundamentally different.
