FOREWORD

The United Kingdom has many prominent industries, a thriving start-up scene and one of the most important financial hubs in the world, London. Thanks to low entry barriers and a large market size, there are a lot of opportunities in sectors where Swedish companies can fully leverage their strengths.

Sweden has a long-lasting trade relationship with the UK. Throughout England, Scotland, Wales and Northern Ireland, approximately 1,200 Swedish and Swedishrelated companies have established an office, and there are many more businesses that export from Sweden to the UK.

The UK has a plethora of industries and a healthy climate for start-ups to grow a successful business. With the City of London, it is also home to one of the largest financial centers in the world. There are not only lots of opportunities for Swedish companies to do business, but the UK also functions as a stepping-stone for international expansion, especially in sectors where Swedish companies can make a real difference. Examples of these areas are energy and cleantech, healthcare and life sciences, consumer goods and retail, and infrastructure and ICT.

Team Sweden in the UK(the Swedish Embassy, the Swedish Chamber of Commerce and Business Sweden) have conducted its first ever Business Climate Survey among Swedish companies in the UK, whose findings are presented in this report. The purpose of the survey has been to increase the understanding of Swedish companies’ performance in the UKand deepen our appreciation of the opportunities and challenges that the UKmarket poses. It sheds light on the key factors driving Swedish companies’ success in the UKas well as their strategies in the face of the current climate of uncertainty. In addition, it will hopefully serve as a reference in bilateral trade dialogues between Sweden and the UK.

There is no doubt that the global covid-19 crisis has major effects on the world economy, and Swedish trade is no exception. The results of this survey should therefore be considered in light of the recent developments. However, a key finding of the 2020 Business Climate Survey is thatthe UKremains a very important market for Swedish companies and that the trust in economic recovery is high among respondents.

Lastly, we would like to extend our most sincere gratitude to the participating companies and respondents which have contributed to this report.

H.E. Torbjörn Sohlström

Ambassador of Sweden to the United Kingdom

Gustaf Bergström

Trade & Invest Commissioner United Kingdom, Business Sweden

Peter Sandberg

Managing Director Swedish Chamber of Commerce for the United Kingdom