The Swedish government condemns Russia's invasion of Ukraine in the strongest possible terms.
Due to the tragic development in Ukraine, Business Sweden urges companies dealing with Russia to:
- Act with great caution and follow developments closely and continuously. More and stricter sanctions will probably be issued in the near future, and changes may occur from day to day.
- Raise the issue of possible business with Russia to the management of the company and bring in legal expertise to assess your compliance with sanctions and other rules.
- Contact your bank to discuss how/if they handle transactions with Russia.
- Review how your supply chain is affected by this.
For questions about sanctions, contact exportregler.
For the latest on the war in Ukraine and its impact on Swedish companies, please find Business Sweden’s collected information with FAQ’s and details about our support services here.
The world’s second largest economic entity
Currently as much as 73 percent of Swedish exports go to Europe, and there are plenty of business opportunities across most industries. A few industry segments that look particularly promising are the automotive industry, ICT, health care, food, energy and environment, and the creative industries. Thanks to Sweden’s highly developed digital infrastructure, our skills and experience within fibre optics are currently in high demand.
Europe may be geographically close, but it is worth remembering how diverse the region is. It consists of numerous markets that can vary significantly in terms of business trends and cultural conventions. Together, these markets make up the world's second largest economic entity, accounting for more than 20% of the global economy.
The region includes Sweden’s most important export market Germany, where around 1,500 Swedish subsidiaries have built up a solid reputation for their innovative and sustainable solutions. According to the data aggregation company Valuer, Berlin is currently the number one start-up city in the world. It is also worth noting that another five European cities feature on their top 10 list of start-up cities in the world: Helsinki, Stockholm, London, Copenhagen, and Amsterdam.
Focus on local culture and innovation
To keep up with the increasing competition, it is highly recommended to establish a local presence and get to know the business culture. Be sure to investigate local buying habits to make the most of the purchasing potential of your identified target groups. For Swedish companies it is also important to keep focussing on innovative solutions and stay on top of the rapid technological development. Any company that do or plan to do business with the UK are strongly advised to keep a close eye on the political development and be prepared to revise their Brexit strategy as needed.
Our presence in Europe
Business Sweden is represented throughout the region with 16 offices in key cities, from Madrid to Moscow. Together with our team of business developers in Sweden, we can support you every step of the way – from giving broad strategic advice to producing detailed market analyses. The Swedish office also has a team who can help European companies to establish a presence in Sweden.