ABOUT THE SURVEY

Respondents provide a nuanced view of an improved British business climate

When considering why Swedish companies choose to establish themselves in UK, certain criteria present themselves, such as UK’s strong and largely stable economy; its central position in Europe; high GDP per capita; and large population of 67 million. However, the Business Climate Survey aims to go beyond these criteria to gain a deeper understanding of the Swedish experience of doing business in the UK.

For the third year in a row, Team Sweden has carried out the Business Climate Survey, calling on Swedish companies active in the UK, regardless of size or industry, to report back on how they perceive economic and market conditions, and to comment on factors such as sustainability and innovation levels. Through the turbulence of the past three years, the Business Climate Survey has given a snapshot of how Swedish companies in the UK are experiencing the consequences of worldwide events such as the COVID-19 pandemic and the resulting extreme global disruption, and, more recently, the war in Ukraine. Responses can also be used to identify trends within industries and differences depending on company size and length of time in the UK, adding nuance to the results and allowing a more detailed picture of the UK business to emerge.

This year, the survey was sent out to 287 company representatives. There are an estimated 1,500 Swedish entities in the UK, however according to our research it is fairly common for large Swedish companies to own multiple entities in the UK.

The answers were collected during March and April 2022 and with a record 41 respondents providing answers, more than the previous year’s respondents. Looking at the respondents, 20 percent were small companies, 24 percent medium and 56 percent large. Regarding industry 24 percent of firms were from the industrial sector, 27 percent from professional services, 24 percent from consumer goods and the remaining share from other sectors. There was also a range of company age, 16 percent were newcomer companies founded after 2016 and experienced (post 2000) companies at 34 percent, lead by mature companies by 50 percent.

After collating survey results, we conducted a number of in-depth interviews with leading representatives from Swedish companies in the UK. These discussions helped provide a more nuanced understanding of the survey results, and enabled a more open-ended discussion of topics such as the impact of the war in Ukraine on company forecasts, or views on government legislation to further the UK’s investment into digital services.

Finally, it should be noted that any statistics presented in this report are solely indicative of our respondents’ experience in the UK market. Furthermore, the response period coincides with Russia’s invasion of Ukraine and the subsequent ongoing war, therefore responses should be read in light of these recent developments.

SIZE OF COMPANIES

SIZE OF COMPANIES

NOTE: Global employees. Small 0-249 (20%) Medium 250-1000 (24%) Large >1000 (56%)

NOTE: Global employees. Large >1

MAIN INDUSTRY

MAIN INDUSTRY

AGE OF COMPANIES

-2015). Newcomer (2016-)

NOTE: Industrial: 24% Professional Services: 27% Consumer Goods: 24% Other: 25%

AGE OF COMPANIES

NOTE: Mature (-2000). Experienced

NOTE: Mature (-2000) Experienced (2001-2015) Newcomer (2016-)