Team Sweden in the UK (Embassy of Sweden, the Swedish Chamber of Commerce and Business Sweden – The Swedish Trade and Invest Council) have conducted the fourth edition of the Business Climate Survey among Swedish companies in the UK. The report explores the prospects for Swedish businesses in the UK, including opportunities for growth, as well as investigating areas for potential collaboration between the two countries.
The findings of the 2023 Business Climate Survey demonstrate that the UK remains a very important market for Swedish companies. Indeed, many Swedish companies have continued to invest and expand their operations in the UK despite some uncertainty.
Building on the previous years’ Business Climate Survey reports, we can see that companies’ economic results are stable. In terms of financial performance, 62 per cent of respondents reported a profitable performance and 14 per cent a loss.
In very similar findings to last year’s survey, 79 per cent of respondents reported that their customers take environmental considerations into account when making purchasing decisions. Only 16 per cent of respondents are of the sentiment that environmental aspects of a product or service affect purchasing decisions of customers ‘not at all’ or a ‘little’.
The Swedish brand is viewed as a key strategic advantage for businesses operating in the United Kingdom. In this year’s Business Climate Survey, 82 per cent of respondents deemed that the ‘Swedish Brand’ has at least partially contributed to their business in the United Kingdom.
Please download the report to fully overview the results with a detailed analysis.
ABOUT THE SURVEY
Team Sweden have carried out this survey to understand how Swedish companies that are actively operating in the UK perceive the market conditions and the economic prospects of their business.
The survey was sent out to over 400 company representatives. There are an estimated 1,500 Swedish companies in the UK. The answers were collected during March and April 2023. The survey was completed by 50 respondents.
We thank all those who contributed their insights and expertise to this report and hope it will contribute to a deeper understanding of the opportunities and challenges facing Swedish businesses in the United Kingdom.