Renowned for its business-friendly environment with world-leading talent and innovation, as well as a market of more than 69 million consumers, the United Kingdom has long been one of Sweden’s most important trading partners.
This report presents the sixth edition of the Business Climate Survey of Swedish companies operating in the UK. Respondents representing the community of businesses originating from Sweden described mostly positive financial performances that are expected to continue, with 60 per cent reporting their companies were profitable and 77 per cent expect their industry turnover to increase.
The UK government recently secured a new trade deal with the EU to help smooth the post-Brexit relationship between the two. While expected to reduce friction in areas such as regulatory cooperation and customs processes, it fails to achieve full alignment and leaves many practical challenges regarding cross-border trade unresolved. So, careful planning and adaptation will remain essential for Swedish firms with supply chains or customers on both sides of the Channel.
The ‘Swedish brand’ continues to be a strong asset for companies with a presence in the UK market. The findings indicate that the proportion of respondents identifying the Swedish image as a contributor to success has increased since last year. The results of this year’s survey also show a surprisingly sharp decline in environmental considerations by customers in the UK when making purchasing decisions.
Meanwhile, broader geopolitical shifts are shaping the landscape in other ways – as the UK takes on a more prominent role within NATO and increasing defence spending. This may create opportunities in sectors such as advanced manufacturing, clean technologies, and cyber resilience – areas in which many Swedish companies are well-positioned to contribute.
Want to read a full overview of the survey results with detailed analysis? Download the report today.
ABOUT THE SURVEY
Team Sweden in the UK conducts the annual Business Climate Survey to gain a deeper understanding of the perceptions of market conditions for Swedish companies active in the UK, as well as their economic prospects and potential challenges. This year’s survey featured the participation of 63 Swedish companies active in the UK market. The respondents represented mostly businesses with professional services or industrial profiles. The majority were small, but more than a third were large companies.
We sincerely thank all participants for their valuable insights, which have been instrumental in shaping this year’s edition of the Business Climate Survey in the UK. Team Sweden in the UK is proud to continue fostering strong bilateral relations between Sweden and the UK and supporting the growth of Swedish companies in the UK market.
