ANNUAL REPORT 2018
OUR WAY OF THINKING PROTECTS YOUR WAY OF LIFE Saab is a global defence and security company, present on all five continents. We are global and international, but remain rooted in Swedish values of trust, reliability, innovation and loyalty. Saab has been active in the UK for over 40 years, delivering advanced defence and security solutions to British Armed Forces and the Emergency Services. This strong relationship has not only im proved British defence capabilities, but has also strengthened both Swedish and UK economies, whilst keeping our people and society safe. www.saab.com/uk
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WE ARE THE CHAMBER As members of the Swedish Chamber of Commerce for the United Kingdom, we are all part of a strong business organisation tasked with inspiring, promoting and extending commercial and industrial relations between the UK and Sweden. We belong to a long line of members dedicated to the same mission since 1906. Founded by businesses – for businesses, we are today more than 400 members coming from across all sectors and industries, representing businesses of all sizes. From large corporates to SMEs and entrepreneurs - it is us, the members, that fill the Chamber with expertise, experience and stories that we can tap into through the network. The membership is an extended network of colleagues that goes beyond our office walls. We help each other by sharing our experiences, we meet up after work for drinks and a moment of socialising, or we make useful introductions. Perhaps you have forged a new partnership through the Chamber, or even met a new friend.
From sharing knowledge and know-how through one of our many forums or platforms, to mentoring some of our young professionals, we all contribute to the network in our own way. By our own involvement, we take part in shaping the Chamber to what we want it to be – today and in the future. Let’s continue on this journey and accelerate. The Swedish Chamber is one of the largest and most active Chambers in the UK and of the Swedish Chambers abroad. It is through our collective efforts that we make the Chamber dynamic and diverse, and the ultimate business platform, connecting Swedish and British companies across the North Sea. This is a few of us.
Jan Olsson, Chairman
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Don’t just hope for a better future. Plan for one. What does the future look like for you and your loved ones? We are all about helping you achieve your aspirations, and we acknowledge that everyone has a unique set of challenges. That is why we are genuinely committed to understanding you and your ambitions for the future. To find out what we can do for you, contact Helena Whitmore or Daniel Wikehult on +44 (0) 20 7246 4225 or privatebanking@seb.co.uk
Skandinaviska Enskilda Banken AB sebgroup.com/privatebanking
This publication is for informational purposes only. It does not constitute a financial promotion. Our London contacts are available to introduce you to the Private Banking network in SEB, but Private Banking services such as asset management are not provided from the UK and therefore any contractual relationship will be with the SEB entity actually providing such services. Please be aware that the value of investments can go down as well as up. Past performance is not necessarily a reliable indicator of future performance. Future returns are not guaranteed and a loss of principal may occur.
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CONTENTS The Council 6 The Committees 8 Countrywide network through regional Chapters
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The Patronship: a core group of member businesses
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Dear members 13 The United Kingdom: a great place for doing business
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A century of value creation 16 We help businesses establish, grow and develop
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Forums to meet and share ideas
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Sharing knowledge and best practise
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Strong business network for young professionals
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Finance 26
MEET THE MEMBERS The membership consists of businesses coming from a range of industries and sectors. Meet a few of these members, that can be seen on the cover and on page 3 in this annual report (from left to right on p.3). Magnus Lewis-Olsson President at Saab Market Area Europe, Middle East & Africa – the Swedish aerospace and defence company
Wilson Clarke CEO of Löfbergs UK – founded in 1906 (like the SCC), and one of the largest coffee roasters in the Nordic region
Dan Cornelius UK & Ireland Country Manager at Swedish Zound Industries, with brands such as Marshall, Urbanears and Adidas Audio
Sofia Radomska Managing Director at Oriflame Cosmetics, the Swedish beauty company with independent consultants, founded in 1967
Helena Whitmore Head of Private Banking UK at SEB London – one of the Chamber’s founding members and a leading Nordic bank
Tomas Gärdfors Head of Nordic and Partner at global law firm Norton Rose Fulbright
Danielle Lane UK Country Manager at Vattenfall, the Swedish power company wholly owned by the Swedish state, generating power in the UK
Jan Olsson CEO Nordics at Deutsche Bank and Chairman of the SCC Tania Tandon Entrepreneur and co-Founder of Tandon Hildebrand – a legal and business advisory service firm Niko Ek Regional General Manager Europe at Scandinavian Airlines – the flag carrier of the Scandinavian countries
Tracey Davidson CEO at Handelsbanken Wealth Management, one of the leading Nordic banks with a wide network in the UK
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THE COUNCIL The Council is responsible for the oversight of the strategy and management of the affairs of the Swedish Chamber of Commerce.
Chairman Jan Olsson Deutsche Bank
Managing Director Peter Sandberg SCC UK
Vice Chairman Dr Björn Savén IK Investment Partners
Vice Chairman Lars Olsson Stena Line
Vice Chairman Magnus Lewis-Olsson Saab Technologies
Honorary President H.E. Torbjörn Sohlström Embassy of Sweden
The Council is comprised of representatives of member firms from a cross section of industries and sectors, sizes and geographical origins. The various Committees report to the Council on an ongoing basis, and the terms of reference for the Council are included in the SCC’s Articles of Association.
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Magnus Ahlqvist Securitas Security Services (UK)
Suzanne Bolinder Consido
Dr Béatrice Engström-Bondy Investor AB
Niko Ek Scandinavian Airlines
Mark Florman Time Partners
Alex Haddon IC Design
Claes Jacobsson Scania (GB)
Marielle Lindgren Ericsson UK & Ireland
Kerstin Mogull Tate Britain
Hans Otterling Northzone
Ola Rollén Hexagon
Mikael Sørensen Handelsbanken UK
Tania Tandon TandonHildebrand
Adine Grate
Alexander Goodwille Goodwille
Dr A. Maria Dahl AstraZeneca
Magnus Damberg SEB
Kristian Terling HSBC
Northern Chapter Annette Borén Hilti
Humber Chapter Camilla Carlbom-Flinn Carlbom Shipping
North Eastern Chapter Caroline Theobald, CBE Honorary Consul
Honorary Vice President Björn Askert Galgo (UK)
Honorary Vice President Count Bertil Bernadotte
Honorary Vice President Claes Dahlbäck Investor AB
Honorary Vice President Bo Lerenius, CBE
Honorary Vice President Karl-Johan Persson H&M
Honorary Vice President Jacob Wallenberg Investor AB
Honorary Vice President Ulla Nilsson
Honorary Vice President Sir Roger Gifford SEB London
Honorary Secretary Johan Aurén Accountum
YP Representative William Ranby Accenture
Honorary Solicitor Geraldine Elliott Reynolds Porter Chamberlain
CHAPTER CHAIRS
HONORARY MEMBERS
Honorary Vice President Dr Anders Wall Beijer Alma AB
IN ATTENDANCE
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THE COMMITTEES: SOUNDING BOARDS FOR OUR MANAGEMENT TEAM Six committees, comprised of professionals at member firms, act as sounding boards and support for the management team. The committees remain subordinate to the Swedish Chamber of Commerce, and report to the Council regularly. They meet on a quarterly basis and assist in the executive, financial, marketing and membership areas of the Chamber.
THE EXECUTIVE COMMITTEE The Executive Committee prepares the work of the committees for review by the Council. The committee also acts as a sounding board and support for the Managing Director of the Chamber. The Chair heads the Committee. Jan Olsson, Deutsche Bank, Chair Magnus Lewis-Olsson, Saab Technologies Lars Olsson, Stena Line Dr Björn Savén, IK Investment Partners Alex Haddon, IC Design Managing Director, SCC
THE FINANCE COMMITTEE The Finance Committee is responsible for overseeing the financial administration of the Chamber, including budget setting on behalf of the Council. The Committee ensures that adequate financial controls are in place and approves capital investment, any major or unusual items of expenditure, as well as any bad debt write-offs. The Committee recommends the financial accounts to the Executive Committee and Council. Lars Olsson, Stena Line, Chair Helena Whitmore, SEB London Kristian Terling, HSBC Johan Aurén, Accountum Christian Bjärnram Managing Director, SCC Financial Controller, SCC
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THE NOMINATION COMMITTEE The Nomination Committee is responsible for examination of skills and characteristics needed in candidates for the Council and for nomination of Council members. Magnus Lewis-Olsson, Saab Technologies, Chair Jan Olsson, Deutsche Bank Managing Director, SCC
THE MARKETING COMMITTEE The Marketing Committee helps the management team in formulating marketing, communication and public relations strategies. They also assist in generating ideas and content for the Chamber’s many events, recruiting headline speakers and in developing the Membership offer for attracting and retaining companies. Alex Haddon, IC Design, Chair Dr Aarti Anhal, beforenine Suzanne Bolinder, Consido Lena Björck, Alexander & Björck Johan Lundberg, NFT Ventures Managing Director, SCC Marketing & Communications Manager, SCC Events & Programmes Manager, SCC Membership Manager, SCC Business Service Manager, SCC
THE INDUSTRIAL FORUM The Industrial Forum is an informal group whose aim is to gather industry leaders and large corporations within the network to create new bonds and synergies. The group arranges two events each year, featuring some of the most prestigious keynote speakers in the Swedish-British business community. The Swedish Ambassador to the UK, H.E. Torbjörn Sohlström, is an Honorary Member of the Industrial Forum. Jan Olsson, Deutsche Bank, Chair H.E. Torbjörn Sohlström, Swedish Ambassador to the UK Managing Director, SCC
THE YOUNG PROFESSIONALS The Young Professionals (YP) is a suborganisation to the Chamber, and gathers young professionals with an interest in the Swedish-British business community. The YP was founded in 1994 and has around 200 individual members. The YP hosts up to 25 educational, inspirational and social events every year, each with different themes and focal points. The aim is to offer the members a good mix of social and business events throughout the year. William Ranby, Accenture Emilia Swiecicka, Vaimo Anna Tranchell, WMP Creative Louisa Adde, KPMG Matthew Blakemore, BBFC
COUNTRYWIDE NETWORK THROUGH REGIONAL CHAPTERS Swedish businesses operate across the United Kingdom. In fact, many have their entire or main operations outside of London. We provide a network that covers a large part of the country, with our regional Chapters in the North (Manchester), the Midlands (Birmingham), Humberside (Immingham) and in the North East (Newcastle).
NORTHERN CHAPTER
HUMBER CHAPTER
Chair: Annette BorĂŠn, Hilti Home to companies such as Hilti, Sweco, Tetra Pak, Trelleborg, Perstorp, ABB and Volvo.
Chair: Camilla Carlbom Flinn, Carlbom Shipping Home to companies such as DFDS Seaways, Carlbom Shipping and Stena Line.
NORTHEASTERN CHAPTER Chair: Caroline Theobald, CBE Home to companies such as Boliden, Ascom, Concentric and SSAB.
MIDLANDS CHAPTER Chair vacant.
All these regions have strong ties with Sweden and Swedish-British business. We offer a platform for business through the countrywide network of members and local activities, such as business networking events, in each chapter, led by the Chapter Chairs.
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THE PATRONSHIP: A CORE GROUP OF MEMBER BUSINESSES The patronship of the Swedish Chamber of Commerce consists of a core group of member businesses, all committed to the long-term support of the Swedish-British business community. The patrons are advocates for the members of the Chamber and in return, the patronship comes with a range of added benefits, exclusive access and invites as well as extended marketing and networking opportunities. Founded in 1992, the patronship has grown steadily and consists today of 46 member businesses that represent a wide range of industries, from the financial sector and manufacturing, to retail and tech. The patrons reflect the strength of the Chamber’s business platform and represent some of the largest brands in Swedish-British business. In 2018 we welcomed Klarna, Tetra Pak, SCA Graphic Paper, Accountum and LKAB to the patronship. Since the beginning of 2019 (YTD May), King, Haypp, EF Education First, Spotify and SSAB have also joined as patrons.
NEW PATRONS 2018 Klarna Klarna was founded in 2005 in Stockholm with the aim of making it easier for people to shop online. The company is now one of Europe’s largest banks and is providing payment solutions for 60 million consumers across 100,000 merchants in 14 countries. Klarna offers direct payments, pay after delivery options and instalment plans in a smooth one-click purchase experience that lets consumers pay when and how they prefer to.
Tetra Pak Tetra Pak is the world’s leading food processing and packaging solutions company, providing safe, innovative and environmentally sound products that each day meet the needs of hundreds of millions of people in more than 160 countries. The motto, “PROTECTS WHAT’S GOOD™,” reflects the company’s vision to make food safe and available, everywhere.
SCA Graphic Paper The core of SCA’s business is the forest, 2.6 million hectares in northern Sweden. Around this unique resource, the company has built a well-developed value chain based on renewable raw material from its own and others’ forests. SCA offers paper for packaging and print, pulp, wood products, renewable energy, services for forest owners and efficient transport solutions.
Accountum Accountum offers expert and tailored services including accounting, auditing, corporation tax and private client advisory. They have particular expertise in tax planning and compliance for ‘non-doms’ and owner managed businesses with Anglo-Swedish connections.
LKAB Luossavaara-Kiirunavaara Aktiebolag (LKAB) is a Swedish mining company. The company mines iron ore in Kiruna and at Malmberget in northern Sweden. Their production is sold throughout much of the world, with the principal markets being European steel mills, as well as North Africa, the Middle East and Southeast Asia.
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DEAR MEMBERS, It has almost been a year since I assumed my role as Managing Director of the Swedish Chamber of Commerce for the UK. For me it has been a fantastic journey.
people solving difficult problems. Also, our communications across all platforms is focusing increasingly on bringing our members to the fore, as with the front cover of this very publication. To name a few things.
I have met with hundreds of businesses and spent much of my first few months crossing the streets of London and Stockholm, making sure we listened to you. We also conducted a member survey in the autumn, again collecting your thoughts on the Chamber and our services. I still have lots of members to see, and look forward to meeting and hearing from every single one.
Business, and Britain-at-large, is heading for more uncertain times with the UK’s exit from the European Union. In times like these community and a sense of togetherness play central roles. The Chamber, often in partnership with the Embassy and the Ambassador himself, has provided a range of forums to discuss and learn about Brexit and implications to your businesses, and will continue to do so for as long as necessary.
Focus has been on adding value and relevance. The Chamber has proven its relevance for over a century – after all, it was founded by businesses, for businesses, and some of our founding members are still supporters. Nonetheless we need to look forward and benchmark the services we provide. In the last year we have revamped the mentorship programme for young professionals in international business, we have introduced business culture training and an accelerator programme for Swedish tech businesses connecting them with London capital. We introduced ‘Business Breakfasts’ – intimate roundtables with great access to interesting speakers and smart
Our focus will be on mixing the intimate and super-relevant with the broader promotion of Swedish strength, whether it is sustainability, technology or innovation, and uniting with the UK ecosystems. Partnerships are the future. The Chamber plays a vital role as a catalyst in this, and we should continue strengthening what we think is the ultimate Swedish-British business platform, by joining forces. We want to safeguard the strength of the “Made in Sweden” label in the UK market, and want to ensure that we connect more widely than ever before.
The Chamber is a true champion of Swedish-British business in the UK, and it is only as strong as the members behind it. That is why I am particularly proud that we have welcomed lots of new members and patrons in 2018. I hope we can count on your continued support and enthusiasm in the coming year, as we continue our journey. Finally, I work with a fantastic, growing and dynamic team, made up of excited and passionate professionals with a wide mix of experience. The pace at which we have been able to introduce new initiatives and implement changes over the past year is truly an accolade to their passion, commitment and hard work. Special thanks also to my predecessor Ulla Nilsson, who has been a tremendous support in my initial year, and to the Council and Committees who give their precious time and share expertise to help drive the organisation forward.
Peter Sandberg, Managing Director Swedish Chamber of Commerce for the UK sandberg@scc.org.uk
THE SECRETARIAT
André Viktorsson Events & Programmes Scholar
Anna Crona Business Service Manager
Anna Ericsson Events & Programmes Manager
Erik Helldén Marketing & Communications Intern
Jonas Eklund Marketing & Communications Manager
Linnéa Lindgren Marketing & Communications Scholar
Lovisa Lindkvist Membership Intern
Nathalie Thiel Membership Scholar
Peter McNamee Financial Controller
Peter Sandberg Managing Director
Sofia Larsen Membership Manager
Sofia Rosenblad Events & Programmes Intern
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THE UNITED KINGDOM: A GREAT PLACE FOR DOING BUSINESS Many Swedish businesses see a successful expansion to the United Kingdom as a gateway to the rest of the world. That is probably one of the main reasons for the 1,000+ Swedish businesses already present in the country. It is easy to understand why. With London being the number one financial centre in the world and the UK the world’s fifth largest economy, it attracts both innovation, investment and talent, across most industries. Historically, the UK has been a politically and economically stable country. Brexit has naturally had an impact and businesses are looking at Brexit-proofing their operations in light of any changes to the trading relationship. Despite any concerns surrounding Brexit, London will remain at the centre of the global economy and was ranked second in the latest Schroders Global Cities 30 index for 2018,
compiled according to a range of factors, including the projected growth of the economy and disposable incomes. The Chamber was formed in 1906 to support Swedish businesses in the UK market – at a time of no single market – and will continue to support businesses trading and doing business in the country. In preparing Member businesses for Brexit, whether large or small corporates, the Chamber has hosted almost monthly Brexit meetings, in partnership with the Embassy and Business Sweden. We will continue supporting the membership with these forums, for as long as needed. Here are more key figures and reasons why the UK is a great place doing business.
#5 LARGEST ECONOMY IN THE WORLD
#1 FINANCIAL CENTRE IN THE WORLD (LONDON)
#6 SWEDEN’S 6TH LARGEST TRADING PARTNER
#1 HOTTEST SPOT FOR UNICORNS IN EUROPE
#1 FOR FORTUNE 500S EUROPEAN HQ 14Sources:
http://www.uncsbrp.org/, https://www.telegraph.co.uk/, https://en.wikipedia.org/wiki/Tourism_in_London, https://uk.reuters.com/, https://www.londonandpartners.com/
THE WORLD’S LEADING FINANCIAL HUB London is ranked as the leading financial hub of the world, followed by New York and Hong Kong, according to the Global Financial Centres Index 2018 (rating out of 1000).
London
796
New York
788
Hong Kong
755
The foreign exchange market has a daily global turnover of about £2.5 tn. London accounts for about £0.73 tn or 36.5 percent of the pie.
36,5%
RETAIL FUELED BY INTERNATIONAL VISITORS Retail is the single largest private sector employer in the UK - one in 10 people work in retail.
£358bn IN ANNUAL SALES
20.42m INTERNATIONAL VISITORS IN 2018
NUMBER 1 TECH HUB IN EUROPE The United Kingdom attracts more investment money for start-ups than anywhere else. It captured 53 percent of all start-up investment in the EU 2017. Start-ups raised £6.1bn in 2018, compared to 2nd ranked Germany at £3.6bn. The United Kingdom has the largest number of unicorns in Europe. 38% of all unicorns were based in the UK 2017. Twice the amount of unicorns in Germany and Sweden together.
BEST PLACE TO SPOT A UNICORN
UNIQUE ACCESS TO TALENT: 357,900 DEVELOPERS IN LONDON 15
A CENTURY OF VALUE CREATION We represent member businesses from across all sectors and industries, from large corporates to SMEs, entrepreneurs and start-ups, in the United Kingdom as well as in Sweden. We are proud of having brought value to businesses for over a century. As represented on the front cover of this report, our membership is diverse, and with diversity comes a wide range of needs. Hence our service offering caters to a broad group of businesses, whether you prefer intimate discussion forums, larger conferences, professional development, corporate matchmaking, or other practical support for your business growth. We are an open network to the extent that welcome a broad mix of businesses within the Chamber, but our focus is always on making sure we have solid representation within the dynamic Swedish business community in the UK. This is our backbone, and the very foundation of our platform. In 2018 the Chamber initiated a project to update its CRM-system (dating back 15 years). The aim was to ensure that we communicate in the best and most relevant fashion with our members, use data appropriately, have our various platforms connect with each other and improve our internal processes and efficiency. Members will hopefully see the fruit of this initiative in the coming years, as we are able to target offerings more appropriately.
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THE MEMBERSHIP OFFERING We are continuously looking at clarifying the membership offering and to tailor it to the needs of our members. Here’s what we do for our member businesses.
ESTABLISH The Chamber assists businesses setting up in the UK and Sweden by providing unique market intelligence, support and access to the collective knowledge and experience of our membership. Many have taken this journey before.
GROW We help growing businesses by providing relevant updates, news and information relevant to running a business, by establishing unique connections and by providing mentorships and professional development programmes.
DEVELOP In collaboration with the member companies and peers from the Chamber’s extended network, we offer training programmes for personal and professional development. Together with our forums, seminars and roundtables, they form an invaluable knowledge asset for the members.
CONNECT We offer first class networking opportunities through our 50+ events per year, the online Member Directory and through matchmaking and member introductions. As a member, you are also invited to host, sponsor or speak at our events to raise your profile.
96%
OF MEMBERS FIND THE MEMBERSHIP VALUABLE, VERY OR EXTREMELY VALUABLE (based on member survey 2018)
OUR MEMBERSHIP REPRESENTING A RANGE OF INDUSTRIES 3% TRANSPORTATION & LOGISTICS
2% N/A 5% AUTHORITIES & ORGANISATIONS
12% RETAIL & CONSUMER GOODS 3% MEDIA & PRINTING 2% LIFE SCIENCES
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6% INFRASTRUCTURE & CONSTRUCTION 6% INDUSTRIALS & MANUFACTURING
33% BUSINESS SERVICES
NEW MEMBERS IN 2018
9% HOSPITALITY & ENTERTAINMENT
5% EDUCATION & TRAINING
13% FINANCIAL SERVICES
1% ENERGY & NATURAL RESOURCES
MEMBER COMPANY SIZES RANGING FROM SMALL, MEDIUM TO LARGE
BUSINESS SERVICES 33% of all members are in the Business Services industry, providing services in a range of areas.
L
15%
M
15%
22%
SOFTWARE AS A SERVICE
19%
MANAGEMENT CONSULTING
17% LAW
S
59%
16%
BRANDING, COMMUNICATION & PR
7%
ACCOUNTING & AUDITING
6%
WORKPLACE SOLUTIONS
4%
PRODUCT DEVELOPMENT & DESIGN
2% RELOCATION 1% TRANSLATION
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WE HELP BUSINESSES ESTABLISH, GROW AND DEVELOP The Chamber offers a range of business services to help both Swedish and British businesses establish, grow and develop. The business service desk provides consulting within strategy, marketing and communications for both members and non-members. In 2018 we initiated a strategic partnership with the Swedish Agency for Economic and Regional Growth (Tillväxtverket), with the aim to support Swedish start-ups to grow their
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businesses. The first result of this partnership is London Bootcamp, a one-week accelerator programme during London Tech Week 2019, where the participating businesses meet with leading tech experts and investors, and get customized company visits and meetings tailored to their specific needs. Another upcoming business services initiative is the Growth Readiness Programme, which allows start-ups, entrepreneurs and SMEs to prepare and develop their businesses for
future growth, by pairing them with experienced London-based venture capital and private equity investors. To put our business services at the very core of the Chamber’s operations, we have in early 2019 clarified and repackaged our offering and expanded the relevant team.
YOUR FIRST POINT OF CALL WHEN COMING TO THE UK MARKET ENTRY RESEARCH We research industries and identify opportunities, leads, partners and other factors that might affect your business, to create a baseline for entering the UK market.
MATCHMAKING AND INTRODUCTIONS We nurture collaborations that generate mutual gain through matchmaking and introductions with members of the Chamber.
MENTORSHIP AND ACCELERATION PROGRAMMES We organise programmes for start-ups to develop their businesses for investment and growth-readiness. The offering includes mentorship by professionals who themselves have made the journey from start-ups to established players in their industries.
GUIDES AND WHITEPAPERS To promote your business, we produce and distribute business guides and white papers, promoting your expertise and services to reach new potential customers.
DELEGATION VISITS The Chamber has strong ties with industry as well as governmental and non-governmental organisations. We organise delegation visits that maximise the opportunity to share ideas and to create opportunities for collaboration.
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FORUMS TO MEET AND TO SHARE IDEAS The Chamber offers a vast variety of events over the course of a year. From the intimate roundtable discussions under Chatham House Rule, to get-to-know-you receptions and larger forums and conferences focused on Brand Sweden and exchanging ideas, there is something for everyone. Most of our events are hosted in partnership with member businesses or with peers from our extended network. We believe this is the best way to provide relevant and interesting forums and leveraging the know-how from the community. During the autumn of 2018 we launched a new events series, the “Business Breakfasts”. They are intimate roundtable breakfasts, bringing together relevant groups of business professionals in either a peer-to-peer or sector specific focus. The breakfasts feature high- profile speakers from within their respective fields; and the diversity of speakers have included Professor Simon Anholt – the father of nation branding, Neil Cassley – Senior Communications Manager at PayPal and Mark Prisk, MP on Brexit and trade, to name but a few. We have also worked on boosting our sponsorship offering within events, and defining a strategy for how to work more long-term with financial sponsors. As part of this, the traditional Annual Christmas Luncheon had a headline sponsor for the first time in 2018, when Alpcot Capital Management supported the event. The sponsorship allowed the Chamber to focus on increasing the quality of the product, to the benefit of all. 2018 saw a wealth of fascinating speakers come through our doors, from Rickard Gustafson, President & CEO of Scandinavian Airlines, Johan Forssell, President & CEO of Investor AB, a long line of influencers and businesses active in smart cities and clean technology at our Urbanisation Forum in November, or tech start-ups and the wider tech ecosystem at the Tech Forum in June.
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Moving forward, the Chamber will continue focusing on a mix of events within its calendar. It will feature roundtables, drinks receptions, informative forums, headline conferences and traditional Swedish cultural events. Come 2019, we will be launching an additional series – Running a Business – focused on supporting SMEs and start-ups with business updates, and useful information for the day-to-day running of a business. We will also be introducing a Swedish-British Summit on the day before the Christmas Luncheon. The Summit will be a forum for business leaders, entrepreneurs and politicians from both sides of the North Sea, to meet, discuss and learn about the challenges facing us. The 2019 Summit will focus on “Outer Thinking” and 21st century leadership. Looking at our exciting and growing network of businesses – expect some fascinating speakers, themes and meetings in the new year.
EVENTS 2018 23 January Link Up Drinks at Home House 25 January *YP YP Spring Kick off at Jak’s Mayfair 31 January GDPR Breakfast at Royds Withy King 13 February *YP SCC Mentorship Meet-up III 20 February Welcome to the UK at the Stockholm Chamber of Commerce, in Stockholm 22 February *YP YP Cocktail Club at Bletchley 5 March Brexit Forum at SEB 15 March Change Management Forum: New Tech, Now What? at HSBC Private Bank
20 March Link Up Drinks at Kinnarps 26 March *YP YP Coffee Dreamshake Workshop 27 March Brexit Update at the Swedish Ambassador’s Residence 11 April Breakfast at Christie’s 16 April Branding Workshop at Home House 17 April *YP SCC Mentorship Meet-up IV 18 April ‘Legal, Tax and Wealth Structuring for UK RND’s and deemed domiciles’ at Danske Bank 18 April *YP YP Parliament Visit with MP Mark Prisk 27 April Financial Forum - Competitive Collaboration at Wayra UK 27 April The SCC Spring Event at Claridge’s 9 May Link Up Drinks - Summer Edition at Trunk Clothiers 10 May Brexit Discussion at Danske Bank 17 May *YP YP Company Insights: Facebook 24 May Industrial Forum with Rickard Gustafson, President & CEO of Scandinavian Airlines at the Swedish Ambassador’s Residence 4 June MEET Christer Gardell at Aquavit
TOTAL NUMBER OF EVENTS 2018
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6 June Culinary Adventure through the Nordics Joint event at Ekte Nordic Kitchen with the Nordic Chambers 7 June AGM & Luncheon at Home House 12 June Entrepreneurship Forum: START, SCALE, FAIL? at Google UK HQ 20 June Breakfast Meeting at Carnegie Investment Bank 22 June *YP YP Midsummer Drinks 30 August *YP YP Autumn Kick Off 4 September Brexit Update at the Swedish Ambassador’s Residence
TOTAL NUMBER OF ATTENDEES 2018
2,547 2 October Retaining and Attracting Talent Post Brexit at Icons of Denmark 10 October *YP Bloomberg Company Visit 11 October Link Up Drinks - Beer Edition at London Calling Sweden 17 October *YP YP Cocktail Club ABQ Molecular Bar 18 October Business Breakfast feat. Professor Simon Anholt at SEB 30 October Meet the Swedish Press at The Royal Oak 6 November Brexit Update at the Swedish Ambassador’s Residence
22 November Business Breakfast feat. Neil Cassley, Senior Communications Manager, PayPal at Aster 24 November *YP Annual Christmas Dinner 2018 28 November Industrial Forum with Johan Forssell, President & CEO of Investor AB at the Swedish Ambassador’s Residence 7 December Annual Christmas Luncheon at The Landmark London 11 December Business Breakfast: Brexit Discussions at Danske Bank 11 December *YP Winter Drinks *YP = Young Professionals of the SCC
12 September White Cube Gallery Drinks
7 November Link Up Drinks with Old Mutual International at Aster
14 September Annual Crayfish Dinner at Ekte Nordic Kitchen
15 November Urbanisation Forum 2018: Connectivity at Google UK HQ
15 September *YP YP Annual Crayfish Party 19 September Brexit Update at Danske Bank 19 September Nordic Chambers Business Forum 2018: Business Agility at Equinor UK 20 September Annual Patrons’ Dinner at the Swedish Ambassador’s Residence 20 September *YP Yoga with Lumi Power Yoga
83% OF MEMBERS FIND THE EVENTS OFFERING VERY OR EXTREMELY VALUABLE (based on member survey 2018)
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EVENT HIGHLIGHTS
BREXIT FORUM, 5 MAR
BRANDING WORKSHOP, 16 APR
FINANCIAL FORUM, 27 APR
Sir Mark Boleat, Claes Jacobsson (Scania), Magnus Lewis-Olsson (Saab), Hans Norén (Stena UK)
Alex Haddon (IC Design), Erika NilssonHumphrey (Dappad), Mohamed Lasfar (Hästens Beds), Peter Edenholm (E Investment Analysis)
Niko Ek (Scandinavian Airlines)
LINK UP DRINKS, 9 MAY
INDUSTRIAL FORUM, 24 MAY
AGM, 7 JUN
Dag Wirdenius (Buildsafe), Jonas Zachrisson (Datscha)
Ulla Nilsson (SCC), Rickard Gustafson (Scandinavian Airlines), H.E. Torbjörn Sohlström (Embassy of Sweden), Jan Olsson (Deutsche Bank), Helena Sohlström
Camilla Carlbom Flinn (Carlbom Shipping Ltd), Magnus Damberg (SEB)
ENTREPRENEURSHIP FORUM, 12 JUN
Andreas Sjölund (Quinyx), Dr A. Maria Dahl (AstraZeneca), Elin Hammenfors (Quinyx)
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Rune Bentien (Google UK/Nordics)
Robert Falck (Einride), Jeff Skinner (London Business School)
ANNUAL CRAYFISH DINNER, 14 SEP
Kina Zeidler, Stefan Backlund (Trustly)
Christoffer Kurpatow (Skultuna), André Viktorsson (SCC), Lisa Brodin Ferraro (Persona Executive)
NORDIC CHAMBERS BUSINESS FORUM, 19 SEP
URBANISATION FORUM, 15 NOV
Michael Clark (Mannaz)
Jon Simpson (Google)
Anneli Pinchard (Saab), Patrick Soric (Danske Bank), Peter Sandberg (SCC), Karin Olander (Dagens Industri), Jan Olsson (Deutsche Bank), Jenny Gardner (Saab)
Linda Thiel (White Arkitekter), Iain Macbeth (Transport for London), Max Ryerson (StratForce)
ANNUAL CHRISTMAS LUNCHEON, 7 DEC
Jan Olsson (Deutsche Bank) and Dr Anders Wall, who was presented with the Inaugural Extraordinary Member Award
Count Bertil Bernadotte, Bicky Chakraborty (Elite Hotels)
Rajesh Agrawal (Deputy Mayor of London)
Jan Olsson (Deutsche Bank), Bert Nordberg (Vestas), Dr Anders Wall
The SCC team performing the traditional Pomp & Circumstance
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SHARING KNOWLEDGE AND BEST PRACTICE Supporting and promoting Swedish-British businesses is central to our communications strategy. From social media and the Chamber’s website, to newsletters and The Link magazine – we share the stories of our members across all our platforms, hoping to both inspire and to spread knowledge and best practice across the network.
The newsletters have been received very well since the launch with an opening rate of up to 45% of the approximately 2,700 subscribers.
In late 2018, we started working on a new website which will be launched in 2019. With an updated design and purposeful layout, the new website will be rigged to serve the Chamber’s requirements, as we explore new forms of communicating, for example through video content and podcasts (which we launched in spring 2019).
Our strategy – across all platforms – is to focus on the people that make up the membership base, and to share their knowledge, their journeys and successes, across the network. To include members on the cover of the magazine is only one way of doing this; another is through our new series of podcasts featuring members and peers from our extended network. You will be able to both see, hear and read lots more about our members in the coming year.
We launched two new bi-weekly newsletters in the autumn – the Upcoming Events newsletter and the Chamber Business Brief with relevant news for the Swedish-British business community and stories from the network.
In 2019 we will continue to review all aspects of the Chamber’s communications. With the April 2019 issue, The Link magazine underwent a slight revamp when it comes to design and contents. Going forward, more members will be featured in each issue, representing different industries and sizes of companies.
99%
THE LINK 5 issues/year Printed in 3,000 copies Readership estimated to 30,000 annually
SOCIAL MEDIA FOLLOWING December 2018 LinkedIn: 4,385 Twitter: 2,440 Instagram: 747 Facebook: 776
NEWSLETTERS 2 bi-weekly newsletters Approx. 2,700 subscribers Opening rate 33-45% Click-through rate 5-13%
Link THE
THE SWEDISH CHAMBER OF COMMERCE FOR THE UK
OF MEMBERS FIND THE SCC COMMUNICATION GOOD OR VERY GOOD
TRUNK CLOTHIERS & REFERANZA
(based on member survey 2018)
FAGERHULT & LÖFBERGS The love for fika brought them together
IN CONVERSATION On fandom & customer loyalty
LONDON TECH WEEK Join in on the celebrations at London Bootcamp & Tech Forum
ISSUE 345 - APRIL 2019
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1-10.indd 1
01/04/2019 15:00:45
STRONG BUSINESS NETWORK FOR YOUNG PROFESSIONALS The Young Professionals’ (YP) network will be celebrating 25 years in 2019. Over the years, the organisation has moved towards a clearer business focused agenda, whilst still providing social networking opportunities for young professional interested in the Swedish-British connection. Today, it represents some 200 professionals, represented across all industries. The YP offers a range of events, from after-works and traditional Swedish events on the social side, to company visits and seminars on the more professional end. Membership of the YP also gives access to a number of SCC events, which YP members often make use of. The Chair of the YP Committee also attends the SCC Council meetings to represent the voice of the young professionals. In 2018, the Committee underwent a strategic overview of the organisation’s service offering, and reviewed both events and communications. An ambitious plan was set up to grow
Mentorship Programme participants 2019 and strengthen the YP’s social media presence and to make the platforms more interactive for the members.
UPDATED MENTORSHIP PROGRAMME One of the most significant SCC and YP initiatives was the launch of the updated Mentorship Programme, which kicked off in
January 2019. Dr Aarti Anhal was selected as programme director, in a move to provide more long-term stability for the programme. Following an improved marketing strategy, the one-year programme saw an almost 400 percent increase in the number of applications received compared to previous years.
SCHOLARSHIPS We are proud to offer talented and creative young individuals the opportunity to gain international business experience by joining the Chamber and the Young Professionals organisation. In 2018, this opportunity was made possible by generous scholarship donations from Hvitfeldska Gymnasiet, Investor AB, Lund University, the Scholarship Fund for Swedish Youth Abroad and Sten A Olssons Stiftelse.
DONORS 2018
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FINANCE SWEDISH CHAMBER OF COMMERCE FOR THE UNITED KINGDOM (A company limited by guarantee)
Statement of comprehensive income for the year ended 31 December 2018 2018
2017
£
£
643,408
644,106
(138,838)
(148,302)
504,570
495,804
(516,164)
(494,789)
OPERATING (LOSS)/PROFIT
(11,594)
1,015
Other income
320,000
-
512
11
PROFIT BEFORE TAX
308,918
1,026
Tax on profit
(59,908)
(1,029)
POFIT/(LOSS) FOR THE FINANCIAL YEAR
249,010
(3)
Unrealised (deficit)/surplus on revaluation of tangible fixed assets
-
(4,332)
Movement in deferred tax relateing to revaluations
-
922
OTHER COMPREHENSIVE INCOME FOR THE YEAR
-
(3,410)
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
249,010
(3,413)
Turnover Cost of sales
GROSS PROFIT Administrative expenses
Interest receivable and similar income
OTHER COMPREHENSIVE INCOME OF THE YEAR
26
Extracted from the audited financial statements of the Swedish Chamber of Commerce for the United Kingdom for the year ended 31 December 2018. The financial statements of the Swedish Chamber of Commerce for the United Kingdom are audited annually by: Calders (1883) LLP Chartered Accountants and Statutory Auditors 16 Charles II Street London SW1Y 4NW
Statement of financial position as at 31 December 2018 2018
2017
£
£
15,797
17,489
2
2
15,799
17,491
FIXED ASSETS Tangible assets Investments
CURRENT ASSETS Debtors: amounts falling due within one year
309,604
201,471
Cash at bank and in hand
802,675
593,220
1,112,279
794,691
(425,017)
(358,131)
Creditors: amounts falling due within one year NET CURRENT ASSETS
687,262
436,560
TOTAL ASSETS LESS CURRENT LIABILITIES
703,061
454,051
PROVISIONS FOR LIABILITIES Deferred tax
NET ASSETS
(2,992)
(2,992) (2,992)
(2,992)
700,069
451,059
6,190
6,190
693,879
444,869
700,069
451,059
CAPITAL AND RESERVES Revaluation reserve Profit and loss account
27
28