ANNUAL REPORT 2021
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MILLENNIUM BRIDGE, LONDON
We know the Nordics by heart. With more than 160 years of Nordic Private Banking experience, we understand the unique challenges you face as a Nordic national living abroad. That is why we offer financial services tailored to your international needs.
To find out more, please contact Helena Whitmore or Daniel Wikehult +44 (0) 20 7246 4225 privatebanking@seb.co.uk Skandinaviska Enskilda Banken AB (publ) (SEB), London Branch sebgroup.com/privatebanking This communication is made by Skandinaviska Enskilda Banken AB (publ), London Branch for informational purposes only. Our London Branch is available to introduce you to the SEB Private Banking network outside the United Kingdom. SEB London Branch is authorised and regulated by the Swedish Financial Supervisory Authority. Deemed authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.
2021 in brief THE BEST OF TWO WORLDS As pandemic restrictions started lifting in 2021, we found ourselves in a new world where we could arrange and attend longed-for in-person events and meetings, while digital options were available when needed – the best of two worlds, making the SCC’s offering available to a wider audinece withing the community.
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2,600 POPULAR EVENTS CALENDAR Our events attracted more than 2,600 attendees in total in 2021, both virtually and in-person.
OPPORTUNITIES TO MEET In 2021, the Chamber executed more than 80 events in total – up from 72 in 2020.
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OPTIMISM IN THE CITY DESPITE BREXIT Almost 95% of financial services companies with a Swedish connection believe that The City will continue offering significant opportunities, despite Brexit, according to a survey the SCC performed in June 2021.
PLATFORM TO DISCUSS THE NEW RELATIONSHIP In 2021, the Chamber continued its New Relationship roundtables to offer members a platform to discuss post-Brexit challenges.
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66 A GROWING COMMUNITY In 2021, we welcomed 66 new businesses across all sectors to the membership.
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100 Excellent
HIGHLY RECOMMENDED MEMBERSHIP The Net Promoter Score measures the likelihood of respondents recommending the Chamber membership to someone in their network. In the latest SCC member survey, the members scored the Chamber 59.22, which qualifies as “excellent” on the Net Promoter Score scale.
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100+ SUPPORTING SWEDISH BUSINESSES We supported 120 businesses in 2021, in their UK market expansion and growth, through performing partner searches and matchmaking, market research and through our growth and accelerator programmes.
ENTERING THE NEW NORMAL As Covid-vaccines were being rolled out in the spring of 2021, society was gradually going back to normal, or was it? What impact has the pandemic had on business operations as we used to know them? In April 2021, The Link spoke to Linda Thiel Director of the White Arkitekter London studio, Bernie Charles, Head of HR at Handelsbanken UK, and Fredrik Bergsten, Managing Director at Kinnarps UK, about their experiences, what challenges they were facing, and how the pandemic will shape the future.
NEW PARTNERSHIP FORMED AT THE SCC’S BOOTCAMP With the aim of building a global platform providing erotica in audio format for women, co-founders Linnea Taube and Rosanna Thun were to launch their new digital subscription service ‘AVA stories’ in 2021. In April 2021, The Link spoke to Rosanna and chairman Lotta MalmHallqvist about their vision for the company and how their bonding at the SCC’s Bootcamp AccessUK led to an unexpected partnership.
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It is difficult to go into a new country, and depending on your previous experiences and your connections in that country you might need it more or less, but I think that no matter what you will always need some help. In the Nordic Scale Up UK programme, you can pick and choose from an abundance of experience what is right for your company. Charlotte Runius, CFO & Co-founder of Fenix Funeral Participant in the Nordic Scale Up UK programme 2021
RETURNING TO THE SKIES The aviation industry took a hard hit when airlines saw travellers disappearing in a matter of weeks due to the pandemic. SCC patron SAS was fast to adapt to the new environment and took the opportunity to introduce flexible solutions to its travellers and to update its fleet to one of the most sustainable and youngest fleets in the world. Learn more in the April 2021 issue of The Link.
SWEDISH BUSINESSES MAKING A MARK IN THE UK GAME INDUSTRY In April 2021, the Swedish Chamber of Commerce and Invest in Skåne brought together representatives for the Swedish and British game industries to share insights and learn from – and about – each other’s markets. Malmö-based game giant Sharkmob is only one of the many examples of how Swedish game studios take on the UK market.
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Crossing bridges Looking back at the past year, we once again find ourselves astonished by the unpredictability of our time. With both Brexit and the pandemic still ongoing, and most of us longing for stability, few would have foreseen something as drastic as a war in Europe. Yet here we are, and countries and businesses are once again forced to quickly change route and adjust to a new reality. Today, the need for agility is probably as important for the survival of a business, as is capital or strength. Looking at our community, we are not only growing in strength and numbers, but also in terms of adaptability.
Business leaders across industries, who would rarely find themselves in the same room, can meet, discuss and learn from each other’s successes and mistakes.
According to the SCC’s yearly member survey, 87% find the membership offering valuable or very valuable – a result that makes us both proud and motivated to keep going.
When reflecting upon where we currently find ourselves, it could be described as crossing a bridge between the old and the new. Behind us, the old world built on our ‘old ways’ – comfortable, but not sustainable, nor appropriate during pandemics or wars. In front of us, in a distance, the state many would call “the new normal”.
Above all, this number proves the value of the community, especially in uncertain times. And the Chamber aims to continue supporting the members, and through advice, guidance and leadership, do what is needed for us all to arrive safely on the other side of the bridge.
For example, as we start bringing back our much appreciated (and missed) in-person events, we have decided to partially keep offering virtual events, as they open up a number of new possibilities for both speakers and participants.
We are still too far away to see the details of what this state will look like, although it has to be greener, and characterised by more flexibility. Down the road, some countries might find themselves drifting further away from each other – and others approaching each other, such as Sweden, Finland, and the NATO-alliance.
One of the key functions of the Chamber, is to bring together thinkers and stakeholders from different sectors, and provide them with platforms to exchange experiences and ideas.
We still have a long way to go before reaching stable ground on the other side. But while traveling towards it, many of our members seem grateful not to be doing the journey alone.
Jan Olsson Chairman
Peter Sandberg Chief Executive
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ALBERT BRIDGE, LONDON
87%
41%
45% 2021
2020
27% 12%
2019
2018
A HAPPY MEMBERSHIP 87% of members rate the overall value of the SCC membership as either high or very high, according to the latest member survey.
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VERY VALUABLE TO MEMBERS We see a move in members rating the membership as ‘very valuable’ from 12% in 2018, to 45% in 2021.
LARGEST SWEDISH EMPLOYERS IN THE UK Swedish businesses have been present in the United Kingdom for centuries and contribute to the UK economy and society through investments, innovation, people culture and not least through the thousands of job opportunities created. In fact – the ten largest Swedish employers alone, employ more than 55,000 people across sectors and industries in the UK. In 2021, The Link made it its mission to map out different aspects of the Swedish footprint in the UK in a series of features. In 2022, the SCC, in partnership with the Embassy of Sweden, will continue examining the footprint in a series of surveys.
In 2021, we were finally back with in-person events. The year’s event schedule was concluded with Outer Thinking on 2 December gathering more than 200 delegates to the conference.
SWEDISH BUSINESSES OPTIMISTIC ABOUT THEIR POST-BREXIT FUTURE Despite challenges at borders and additional paperwork involved when importing and exporting goods, Swedish businesses with a UK presence are optimistic about their post-Brexit future, showed a report from the Swedish Chamber on 5 March 2021.
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Spirit of the community The year of 2021 was a year of unpredictability. Starting off with the UK entering the third and final national lockdown caused by the pandemic, after which a spring of gradual easing of restrictions followed. At last came 19 July, also called the “Freedom Day”, where most legal limits on social contact were removed, and the final closed sectors of the economy could reopen. A platform for support and knowledge sharing Through months of uncertainty, the SCC community worked as a platform for support. The members saw how being able to use each other as sounding boards, listening to the thoughts of others, and letting each other in on knowledge, collectively created a clearer pathway to making informed and grounded decisions.
With members operating in 15+ different industries, the diversity of the SCC is vast, and with that comes lots of knowledge. The community consists of organisations such as authorities, financial services and institutions, communication agencies, law firms, construction companies, manufacturers, energy suppliers, retail companies, education providers, life science operations, and media institutions – only to name a few. Access to knowledge and experience in a broad spectrum of fields, support and help when needed, as well as excellent opportunities for networking and collaborations, are all things the SCC are very proud to offer its members.
When society opened for in-person events, the community was eager to get out and meet each other again. From the months August to December, the SCC hosted 20+ events with 18 of them being in person. No matter the size, whether a business breakfast of 20 people or a flagship event with 500 guests, the community spirit was evident. We view that as a reason to why the community keeps growing. During 2021, the Chamber was joined by 66 new members from across all sectors.
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GLENFINNAN VIADUCT, INVERNESS-SHIRE, SCOTLAND
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A GROWING COMMUNITY In 2021, we welcomed 66 new businesses, across all sectors, to the membership.
13 MORE PATRONS SUPPORTING THE COMMUNITY 13 businesses joined the SCC patronship in 2021, to support the Swedish-British business community. Today, the patronship consists of 64 businesses in total.
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The SCC’s sustainability summit Impact, on 23 September 2021.
REASONS FOR MEMBERSHIP
‘Raising awareness’ and ‘strenghtening the brand’ have moved up as main reasons for membership, knocking down introductions to fifth position.
EVENTS/NETWORKING
BREXIT: ONE YEAR LATER The UK officially left the EU on 1 January 2021. How far have we come after the official breakup? One year later, law firms from the SCC membership guided The Link readers through the most important changes made in key areas.
SUPPORTING THE COMMUNITY
RAISING AWARENESS
+12%
STRENGTHEN BRAND
+21%
INTRODUCTIONS
400+ MEMBER BUSINESSES ACROSS INDUSTRIES AND SECTORS
Authorities & organisations, 6%
Industrials & manufacturing, 6%
Business services*, 36%
Infrastructure & construction, 6%
Education & training, 4%
Life sciences, 4%
Energy & natural resources, 2%
Media & printing, 2%
Financial services, 13%
Retail & consumer goods, 13%
Hospitality & Entertainment, 5%
Transportation & logistics, 3%
* Members within the Business services sector are active in the following sub-sectors: Accounting & Auditing, 7% Branding, Communication & PR, 12% HR & Recruitment, 9% Law, 19% Management Consulting, 22%
Authorities & Organisations
Business Services
Education & Training
Energy & Natural Resources
Financial Services
Hospitality & Entertainment
Industrials & Manufacturing
Infrastructure & Construction
Product Development & Design, 1% Relocation, 1% Software as a Service, 22% Translation, 1% Workplace Solutions, 6%
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Digital and in-person: Best of two worlds Today, it is easy to forget that during a large part of 2021, we were standing with one foot in a society defined by pandemic restrictions, and the other in what we imagined as a post-pandemic world. The UK was slowly easing its restrictions in the spring – businesses started opening up, only to see their stores, restaurants and offices closing again as the number of Covid cases were on the rise. During the first half of 2021, the Chamber continued to produce and carry out exclusively digital events and programmes. With plenty of experience from the previous year, virtual roundtables, post-Brexit discussions and the SCC’s Emerging Stronger series, as well as flagship events such as the Nordic M&A Forum and Tech Forum with more than 200 guests attending, were all carried out digitally. The Chamber’s accelerator programmes for Swedish startups and scaleups, such as AccessUK and Nordic Scale Up UK, were
also performed digitally, facilitating for the participants to expand their networks, and understanding of the market to start building a presence in the UK. It was seemingly with a sigh of relief that the community welcomed the restrictions to be lifted enough for people to start meeting again face to face in late summer. In September, attended by 20+ speakers and close to 150 guests, the new sustainability summit “Impact” was the Chamber’s first in-person major flagship event to be carried out in a long time. Also, the participating businesses of the digital growth programme Southern Sweden Tech Stars were able get together for their final meet-up in the autumn. And for the first time in two years, to round up the year, the Chamber carried out two of the most appreciated flagships in the events calendar in person – the Swedish-British Summit: Outer Thinking, and the Annual
Christmas Luncheon – although with limited seats available. Regardless of format, the members of the Chamber found great value in the 2021 range of events. In the latest member survey, 94% of members rated the events offering as either valuable or very valuable for their businesses. Also, events continued to be one of the main reasons for a membership. Although the in-person event format has been reinstated, there is still an interest in virtual events among the members. Two thirds of the respondents in the member survey say they are ‘likely’ or ‘very likely’ to attend a virtual event. We will continue organising events in a virtual setting, such as the popular event with Tom Standage, Deputy Editor of The Economist, predicting the world in early 2022. This is a way for us to make the Chamber’s event offering even more accessible across the membership.
For the second year, Tech Forum was organised as a digital gathering 2021. Focusing on artificial inteilligence and its many applications, the forum – featuring 20+ speakers and attended by 200+ guests – was opened by Rajesh Agrawal, Deputy Mayor of London for Business.
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HIGHLY APPRECIATED EVENTS OFFERING 94% rate the Chamber’s events offering ‘Good’ or ‘Very good’. Events are also stated as the main reason for membership in the latest member survey.
HELPING SWEDISH BUSINESSES ESTABLISH IN THE UK With its various accelerator programmes, business services and the newly launched Ecosystem Exchange series, the Chamber helped more than 100 businesses on their UK market expansion and growth in 2021.
94%
RATE THE EVENTS OFFERING GOOD OR VERY GOOD
MAIN REASON FOR MEMBERSHIP
On 9 September 2021, the participants of the SCC’s Nordic Scale Up UK programme met with mentors and senior speakers helping the businesses understand the UK funding landscape.
DIGITAL BOOTCAMP KICKED OF THE 2021 EDITION OF ACCESSUK In collaboration with Startup Sweden, in partnership with the Swedish Agency for Economic and Regional Growth (Tillväxtverket), the Embassy of Sweden and the British Embassy in Stockholm, the Chamber kicked off AccessUK with a four-day digital bootcamp, held between 7 and 10 June 2021. AccessUK is an accelerator programme specially designed for Swedish tech businesses looking to build a presence and connection with London and the UK. The programme continued throughout the autumn with individually tailored coaching and personalised meetings with experts, partners and prospective clients.
Top left: Cecilia Malmström (University of Gothenburg), Simon Nixon (The Times), Ambassador João Vale de Almeida, Magnus-Lewis Olsson (Saab UK) at Outer Thinking on 2 December 2021. Above: Jan Olsson (Deutsche Bank) at the Nordic Private Equity Forum on 18 November 2021. Left: H.E. Mikaela Kumlin Granit (Swedish Ambassador to the United Kingdom) at the Annual Christmas Luncheon on 3 December 2021.
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SWEDISH-BRITISH DINNER | 23 AUGUST 2021
Peter Burman (EF Education First), Ranj Begley (Readly), Nicole Melillo Shaw (Volvo Cars).
Björn Savén (IK Investment Partners), Mikael Sørensen, James Sproule (Handelsbanken).
IMPACT | 23 SEPTEMBER 2021
Lydia Whitaker (BoKlok), Simon Hicks (Foster + Partner), Victoria Hills (Royal Town Planning Institute, Lilli Matson (Transport for London), Prof. Alan Jones (Royal Institute of British Architects).
Hanna Grahn (Spotify).
Anders Engstrand (SEB).
Darren Wilson (LKAB Minerals), Tamsin Sewell and David Williams (SSAB).
Peter Jelkeby (IKEA UK and Ireland).
NORDIC PRIVATE EQUITY FORUM | 18 NOVEMBER 2021
Maria Perez Hultström (Priveq) and Ellinor Schrewelius (Verdane).
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Gabriel Mellqvist (Dagens industri).
Jan Jensen (White & Case).
OUTER THINKING | 2 DECEMBER 2021
Andrew Bowie (The Conservative Party), Fraser Nelson (The Spectator).
Peter Sandberg (SCC).
Simon Nixon (The Times), Ambassador João Vale de Almeida (Head of Delegation of the European Union to the United Kingdom), Magnus Lewis-Olsson (Saab UK).
Jason “Timbuktu” Diakité (artist) and Lisa Lindström (Doberman).
ANNUAL CHRISTMAS LUNCHEON | 3 DECEMBER 2021
H.E. Mikaela Kumlin Granit (Swedish Ambassador to the UK), Jan Olsson (Deutsche Bank) and Anna König Jerlmyr (Mayor of Stockholm).
The luncheon included a Lucia procession.
Luke Seaman and Alex Marsh (Klarna UK).
Håkan Winberg.
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Swedish-British relations more important than ever As we are transitioning towards the new normal, we are continuously reminded why a strong and supportive community matters. 2021 posed its fair share of challenges, in form of the pandemic, the aftermath of Brexit, and the alarming need of reducing our environmental footprint. Just a few months into 2022, we are faced with a changing security situation in Europe and the need of cross-border collaboration is more important than ever. Transitioning towards net zero Last year, while climate reports kept getting gloomier and gloomier, both Sweden and the UK took on ambitious sustainability goals. And in order to reach them, we all have to play our part, and expect to see measures affecting both Swedish and British businesses. In 2021, the Chamber hosted the Ecosystem Exchange: Greentech event, where Nordic and Baltic startups wanting to expand to the UK met their counterparts and were offered advice and support. We saw massive response at our sustainability event Impact, where businesses were keen to get involved. And going into 2022, we started a new long-term strategic sustainability partnership, working side by side with Skanska to support the green transition. The new normal Some would say that we have already entered the state referred to as ‘the new normal’. With restrictions being dropped and businesses changing their policies in favour of flexible workhours and remote working, we are starting to see the contours of what the post-pandemic society might come to look like. The SCC is bringing along a few new habits into the post-pandemic era. During COVID, we
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made all of our events virtual, and noticed that in some cases, this created opportunities and allowed participants from all corners of the world to join. Hence, even as we are happy to return to in-person events, we will continue to offer the possibility to join some of our events virtually. A changing Europe Officially, Brexit is now completed, but much still remains unsettled. The only thing that seems clear today, is that Europe looks different now than it did a few years ago.
updates that might affect our members. In 2022, we hosted a business breakfast on the security situation in Europe, featuring Air Chief Marshal Sir Stuart Peach, former Chair of the NATO Military Committee and Chief of the Defence Staff and Elisabeth Braw, Senior Fellow at the American Enterprise Institute, columnist and author – and featured Simon Nixon, Chief Leader Writer for The Times and Henrik Johnsson, Co-Head of Capital Markets and European Investment Banking at Deutsche Bank for a discussion on the same topic at our Executive Forum and Dinner.
As the UK is negotiating trade deals and exploring its future relationship with the surrounding world, hopefully opportunities can be found. Through seminars and online guides, as well as through individual advice, we have supported our members with questions they may have about the transition.
Finding a safe space in a strong community With all these events going on simultaneously, we feel lucky to be part of such a strong community. This is a place where a helping hand is never far away – we see plenty of examples where members support and offer advice to each other.
A changing security situation The relationship between the UK and the EU is not the only one changing – so is the one between Europe and Russia. Since the Russian invasion of Ukraine in the beginning of 2022, the tension between East and West has changed at warp speed.
We are not alone in the transition. And it feels good to know that even when the road gets rough, we are traveling in good company.
The escalation affects all of Europe, with many countries increasing their spendings on military and defence, while managing rising prices on goods coming from Russia and Ukraine. Things that seemed almost impossible just a few months ago, such as Sweden joining NATO, are now seemingly possible. With the world entering another phase of uncertainty, the role of the community is more important than ever. Therefore, the Chamber has increased its coverage of information and
SWEDISH FINANCIAL SERVICES BUSINESSES OPTIMISTIC ABOUT FUTURE IN THE CITY Despite uncertainty about regulations, increased costs and administration that followed the UK’s withdrawal from the EU, Swedish financial services companies are optimistic about their future in London. Almost 95% of financial services companies with a Swedish connection believe that the City will continue offering significant opportunities in the future, according to a survey by the Swedish Chamber of Commerce for the UK, conducted in June 2021.
KNARESBOROUGH VIADUCT, NORTH YORKSHIRE, ENGLAND
NEW RELATIONSHIP BETWEEN SWEDEN AND THE UNITED KINGDOM On 15 June 2021, the Deputy Director General at the Confederation of Swedish Enterprise Anna Stellinger, explored the road ahead in the New Relationship Roundtable series, addressing implementations of the new trade agreement and businesses’ standpoint. Leaders from various large Swedish-British corporates shared and discussed their experiences of the new agreement, along with its opportunities and challenges.
MEET H.E. MIKAELA KUMLIN GRANIT In late-August 2021, H.E. Mikaela Kumlin Granit assumed office as the new Swedish Ambassador to the UK. A few months into her duties, The Link met with the Ambassador to discuss her career journey, passion for European affairs and why moving to the UK felt a bit like coming home.
SWEDEN-SCOTLAND BUSINESS EXCHANGE On 2 September 2021, together with The Aberdeen & Grampian Chamber of Commerce in Scotland, the Swedish Chamber of Commerce, in partnership with Invest in Skåne, invited delegates for an exchange mission for Scottish and Swedish businesses, looking at the opportunities and support available when setting up in respective country, and helping you with an ecosystem boost.
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The voice of the community Someone once said that rather than focusing on the obstacles in our way, we should focus on the bridges over them. This is something the members of the SCC have been excelling at in the past year – something we, without doubt, are proud to shed light on. Through the SCC’s communication platforms, we have shared the stories of our members tackling the challenges of Brexit, the pandemic, climate crisis, the changing world economy, and how they affect the member businesses on the UK market. This, by bringing forward experts within finance, law, human resources, public affairs, and tech – only to name a few areas – sharing their knowledge, experiences, and solutions with the rest of the community. The Link Magazine The SCC’s in-house magazine The Link is one of the main platforms for making the voices of the community heard. Released five times per year, distributed in 3,000 copies in print, and published online, the magazine masses approximately 10,000 readers per issue. Each article is also shared through our social media channels – reaching even further beyond the SCC membership. The magazine provides the readers with business insights, individual career stories, outlooks, and access to the community’s vast knowledge.
The SCC voice in the wider media The needs and opinions of our members are our core priorities, and we continuously work to establish the SCC as the main voice for the Swedish-British business community, increasing our influence in the sphere. During 2021, the SCC Public Affairs working group was established, consisting of eleven influential and experienced professionals from large Swedish corporations. One of the objectives of the working group is to strengthen the SCC’s role as a core figurehead in the Swedish-British relationship and to create media awareness. The initial project is called “Swedish Footprint in the UK” and aims to examine and showcase how Swedish businesses are contributing to the UK’s economy, society, and growth. Helping Swedish businesses understand the UK market To shed light on the endless possibilities and opportunities that the UK offers, we created a campaign together with the British Embassy in Stockholm called “From Sweden to the UK”. The campaign aims to help Swedish businesses understand the UK market and tap into the opportunities in different industries.
The initiative includes a website and a magazine, featuring Swedish businesses making it in the UK, including Klarna, Minesto, Volta Trucks, and Vattenfall, sharing their success stories, lessons learned, and valuable tips for others looking to expand to the UK. During 2022, the campaign continues with more business cases, such as Veg of Lund, BoKlok, and SSC Space.
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MEMBER BUSINESSES SHARING THEIR INSIGHTS 256 member businesses were featured and introduced to The Link readers in 2021. The Link is published five times per year, printed in 3,000 copies and distributed online, with a readership of 10,000 per issue. First printed as “The Link” in 1979, the first SCC magazine was published as “The Anglo-Swedish Review” in 1936.
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SWEDEN UNITED KINGDOM THE WORLD FROM SWEDEN TO UNITED KINGDOM THEN THE WORLD
What the UK makes a to the gateway res the wo t of rld
SWEDEN UNITED KINGDOM THE WORLD
KEY SECTOR REVIEWS | THE CLUSTERS AND ECOSYSTEMS GREEN ENERGY | SMART CITY TECHNOLOGY | TECH | LIFE SCIENCES | ELECTRIC VEHICLES
BUSINESS CASES Lessons learned and tips from Swedish businesses that are making it in the UK KLARNA | SHARKMOB | MINESTO | VOLTA TRUCKS | VATTENFALL | DOCTRIN | + MORE
With the campaign ‘From Sweden to the UK’, The Swedish Chamber and the British Embassy in Stockholm are shedding light on the opportunities for Swedish businesses in the UK. Available as a magazine and website, the campaign features Swedish success stories, including Klarna, Vattenfall, Sharkmob and Volta Trucks, just to name a few.
In an opinion piece in Swedish online news site Realtid, SCC Chairman Jan Olsson shares his thoughts on the future of The City in the light of Brexit and the pandemic. Despite the challenges, London has resiliently remained one of the leading financial centres in the world.
24 THE VOICE OF THE COMMUNITY Throughout the year, the Chamber was featured 24 times in UK and Swedish national press, including North East Times, Forbes, Dagens industri, Svenska Dagbladet and Dagens Nyheter, just to name a few.
99%
MORE MEMBERS RATE COMMUNICATIONS AS ‘VERY GOOD’ In the most recent member survey, members rated the SCC communications as either ‘good’, or ‘very good’. The share of members rating the communication ‘very good’ increased by 11% compared to previous year.
9,000+
EXPANDING THE NETWORK By the end of 2021, we were closing in on 9,000 followers on LinkedIn, only to break the barrier in May 2022. In twelve months, the following increased by 16.4%, giving the SCC the largest following of all Swedish Chambers internationally.
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The Board of Directors The Board of Directors is responsible for the oversight of the strategy and management of the affairs of the Swedish Chamber of Commerce. The Board of Directors 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 Board of Directors on an ongoing basis, and the terms of reference for the Board of Directors are included in the SCC’s Articles of Association.
Chairman Jan Olsson Deutsche Bank
Chief Executive Peter Sandberg SCC UK
Honorary President H.E. Mikaela Kumlin Granit Embassy of Sweden
Katherine Ainley Ericsson
Dr A. Maria Dahl Innovent Biologics
Niko Ek Scandinavian Airlines
Kristian Elvefors Volvo Cars
Anders Engstrand SEB
Alexander Goodwille Goodwille
Adine Grate Skiff Capital
Linda Griffin Kry/Livi
Christer Gruvris AstraZeneca
Alex Haddon IC Design
Viveka Hirdman-Ryrberg Investor AB
Peter Jelkeby IKEA
Magnus Lewis-Olsson Saab
Alex Marsh Klarna
Kerstin Mogull
Dr Björn Savén IK Partners
Mikael Sørensen Handelsbanken
Tania Tandon TandonHildebrand
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Kristian Terling HSBC
Honorary Members Honorary Vice President, Björn Askert, Galgo Honorary Vice President, Count Bertil Bernadotte Honorary Vice President, Claes Dahlbäck Honorary Vice President, Bo Lerenius, CBE Honorary Vice President, Ulla Nilsson Honorary Vice President, Karl-Johan Persson, H&M Honorary Vice President, Dr Anders Wall, Beijer Alma Honorary Vice President, Jacob Wallenberg, Investor AB Honorary Vice President, Håkan Winberg
Hélène Barnekow Ascension
Dominic Fernandez-Ares Stena
Peter Burman EF Education First
Mark Florman Time Partners
In attendance Honorary Secretary, Johan Aurén, Accountum Honorary Solicitor, Geraldine Elliott, RPC YP Representative, Matthew Blakemore, British Board of Film Classification
The Committees 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 NOMINATION 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.
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, Chair Adine Grate, Corporate Advisor and Non-Executive Director Jan Olsson, Deutsche Bank Peter Sandberg, SCC
Jan Olsson, Deutsche Bank, Chair Peter Burman, EF Education First Dr Maria Dahl, Innovent Biologics Adine Grate, Corporate Advisor and Non-Executive Director Alex Haddon, IC Design Magnus Lewis-Olsson, Saab Dr Björn Savén, IK Investment Partners Peter Sandberg, SCC
THE MARKETING COMMITTEE
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. Dr Maria Dahl, Innovent Biologics, Chair Birgitta Albåge Gough-Cooper, Lazard UK Johan Aurén, Accountum Kristian Terling, HSBC Astrid Trolle Adams, Logos Legal Services Helena Whitmore, SEB Peter Sandberg, SCC Anna Mackel, SCC
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 Benjamin Webb, Deliberate PR Peter Sandberg, SCC Jonas Eklund, SCC
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 West (Manchester), the Midlands (Birmingham), Humberside (Immingham), in the North East (Newcastle), and in Scotland (Edinburgh). 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. NORTH WEST CHAPTER
MIDLANDS CHAPTER
Chair: Annette Borén
Chair: Jonathan Hofstetter
NORTH EAST CHAPTER
SCOTLAND CHAPTER
Chair: Caroline Theobald CBE
Chair: Mike Christopherson
Chair: Camilla Carlbom Flinn
The role of the Trainee & Scholarship Committee is to ensure the future success of the historic and successful trainee and scholarship programmes delivered by the Swedish Chamber of Commerce, often in partnership with Swedish scholarship donors, organisations and businesses. The committee also overlooks and plans for the programmes’ alumni activities. Peter Burman, EF Education First, Chair Geraldine Elliott, RPC Kristian Elvefors, Volvo Car Tania Tandon, TandonHildebrand Peter Sandberg, SCC Christoffer Waldemarsson, SCC THE EXECUTIVE 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. Mikaela Kumlin Granit, Swedish Ambassador to the UK Peter Sandberg, SCC THE YOUNG PROFESSIONALS
REGIONAL CHAPTERS
HUMBER CHAPTER
THE TRAINEE AND SCHOLARSHIP COMMITTEE
The YP Committee is responsible for the Young Professionals (YP) network of the Swedish Chamber of Commerce. The YP offers unique inspirational business and educational events, social networking opportunities and personal development through its mentorship programmes.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. Matthew Blakemore, BBFC, Chair Louisa Adde, KPMG Katarina Anderson Käppi, London Borough of Waltham Forest Victor Hedenberg, Association of MBAs Petter Nilsson Wihlbäck, Klarna Ellen Rooth, Aon Inpoint Susanna Sandell, Finquest Anna Tranchell, Harlequins Gabrielle Törnberg, Kindred Scholars, SCC
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Tony Young (NHS England), Craig Oates (Doctrin), Dag Larsson, (Doccla), Asif Dewan (Joint Academy), Caroline Mellstig Theimer (Zenicor Medical Systems), Dee Mathieson (Elekta).
LIFE SCIENCES ECOSYSTEM EXCHANGE In partnership with the Department for International Trade (DIT), NHS, and the Embassy of Sweden, the Swedish Chamber of Commerce for the UK invited Swedish Life Science, Medtech and Digital Health companies to learn about the opportunities and challenges businesses currently face when entering the UK.
“COMPANIES OFTEN DO NOT ANTICIPATE THE TIME REQUIRED FOR AN IMMIGRATION APPLICATION TO BE PROCESSED” Following the UK’s exit from the EU, a new immigration system was introduced for working, living and studying in the UK. Whether you’re a startup, want to know what organisations to register with or how to recruit staff from overseas there are various immigration routes and visa alternatives to consider. Deirdre Murphy, Solicitor at SCC member firm North Star Law answered a Q&A on the new immigration system in the June 2021 issue of The Link.
OVERCOMING SUPPLY CHAIN CHALLENGES IN LIGHT OF BREXIT AND THE PANDEMIC In 2021, the UK was experiencing serious disruption and delays in deliveries of petrol and other essential goods, with both the pandemic and Brexit as culprits. In the November 2021 issue of The Link, Niklas Hedin, CEO of SCC member firm Centiro, discussed the learnings businesses can take with them from these events, to ensure more resilient and flexible supply chains.
At the fourth volume of the Emerging Stronger series, on 19 May 2021, we asked ourselves whether “it really takes a pandemic for us to accelerate innovation?”. The discussions featured Katarina Berg at Spotify, Johan Wibergh at Vodafone Group, and Rachel Samrén at Telia, and were moderated by Nik Gowing, Thinking the Unthinkable.
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The team The fourteen strong team at the Chamber is primarily divided into four departments: Business Services, Events & Programmes, Marketing & Communications and Membership & Community.
MANAGEMENT & OPERATIONS
Peter Sandberg Chief Executive
BUSINESS SERVICES Helps members and businesses with a range of business services to support both Swedish and British businesses establish, grow and develop. Accepting enquiries from all businesses, but members are prioritised and enjoy discounted rates on the services (some are free to members). Services include UK setup, market entry research, matchmaking and partner search, production of guides and whitepapers, as well as organising mentorship programmes and acceleration and growth programmes for businesses and delegation/study visits.
EVENTS & PROGRAMMES As a membership organisation, one of the Chamber’s main objectives is to connect people and to facilitate business opportunities. We do this in part by organising numerous events and activities throughout the year, creating platforms to network. The nature of the events reflect our large and diverse membership base. As such, they range from being intimate round table discussions, over informal networking drinks to larger forums/ conferences with 200-250 attendees, and covering niche sectors and broader general themes. We also organise a number of programmes and training courses.
MARKETING & COMMUNICATIONS The marketing and communications team is responsible for the Chamber communications, across all platforms – including print and online, marketing and PR, social media and podcasts. The team creates the member magazine, the Link, which is published five times per year featuring stories and news relevant to the network. The team also oversees the website, social media, artwork and our public relations strategy.
Anna Mackel Finance & Operations Manager
Anna Crona Sara Rolén Head of Business Services Swedish Chamber of Commerce for the UK Scholar
David Molin Elof Hansson Foundation Scholar
Mathilda Börjesson Head of Events & Programmes
Martina Falkenberg Sparbanksstiftelsen Finn Scholar
Julia Jamison
Jonas Eklund Head of Communications
Saga Palmér Marketing Executive
Mathilda Kennett Fund for Swedish Youth Abroad Scholar
Christoffer Waldemarsson Membership and Community Manager
Douglas Tönnberg
Anna Hallin
MEMBERSHIP & COMMUNITY The membership and community team act as the spider in the web, keeping in regular contact with our member businesses, making sure data is up to date, and that members get the best benefit out of their memberships. They also support with member to member introductions and make sure we grow the membership with new and interesting businesses.
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Platform for young talents to grow We are proud to offer talented and creative young professionals the opportunity to join the Swedish Chamber of Commerce and to gain international business experience through the SCC Scholarship Programme - all made possible through generous scholarships grants and donations. The Scholarship Programme lasts for 12 months and has served as a platform to launch many successful alumni careers over the years. The first formal scholarship programme was launched back in the early 1980s, through the Wall Foundation setup by Dr. Anders Wall. However, internships have been provided
throughout the Chamber’s history, including to H.M. King Carl XVI Gustaf of Sweden, back in 1972. Today, many of its alumni are business leaders at large multinational corporates, senior marketing directors or founders and entrepreneurs. In 2021, four different foundations and scholarships supported our work, and offered a platform for young aspirational students. Many thanks to our donors in 2021.
“WE WANT TO INVEST IN A FUTURE THAT IS GOOD FOR US AND FUTURE GENERATIONS” In 2021, the SCC was able to offer a brand new scholarship for a bachelor or masters student at the School of Economics and Management at Lund University, through a generous scholarship donation from the Sparbankensstiftelsen Finn in Lund. Katarina Andrén, Director of Sparbanksstiftelsen Finn, tells us more about the initiative in a Q&A in the April 2021 issue of The Link.
SCOLARSHIP DONORS 2021
Elof Hansson Foundation
Scholarship Fund for Swedish Youth Abroad
Sparbanksstiftelsen Finn
“I HAVE ALWAYS DREAMT OF AN INTERNATIONAL CAREER” At its 114th AGM on 3 June 2021, the Swedish Chamber welcomed three of the four new young talents to the SCC Scholarship Programme. See what they had to say about their expectations and hopes for the coming 12-month period.
The SCC Scholarship Thanks also to those members that made donations to the scholarship in 2021.
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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 longterm support of the Swedish-British business community.
Founded in 1992, the patronship has grown steadily and consists today of 64 member businesses that represent a wide range of industries, from the financial sector and manufacturing, to retail and tech.
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.
The patrons reflect the strength of the Chamber’s business platform and represent some of the largest brands in Swedish-British business.
LEARN MORE ABOUT THE PATRONS In each issue of The Link magazine we meet one of the SCC patrons to learn more about the business, to get sector insights and to understand how they are tackling the greater trends. In 2021, SSAB, SAS, LKAB Minerals, DFDS, and EF Education First were among the featured patrons. Scan the QR code to read the full features.
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WESTMINSTER BRIDGE, LONDON
NEW PATRONS 2021 EY EQT HSBC Invenio Growth LKAB Minerals Loomis Miltton Public Affairs Nefab Readly SigmaRoc SnusDirect Stena Stora Enso
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13 businesses joined the patronship in 2021.
NEW PATRONS 2022 (YTD) Fogel & Partners Linklaters NFT Ventures Stirling Square White & Case
64 SUPPORTING THE BUSINESS COMMUNITY The patronship today consists of 64 patrons across industries and sectors.
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Statutory Accounts SWEDISH CHAMBER OF COMMERCE FOR THE UNITED KINGDOM (A company limited by guarantee)
Statement of income and retained earnings for the year ended 31 December 2021 2021
2020
£
£
Turnover
1,010,247
660,301
Cost of sales
(216,834)
(60,834)
793,413
599,467
(754,260)
(627,698)
39,153
(28,231)
Income from fixed assets investments
123,239
15,992
Amounts written off investments
(12,382)
(288)
-
426
150,010
(12,101)
(7,105)
455
142,905
(11,646)
1,170,353
1,181,999
1,170,353
1,181,999
142,905
(11,646)
1,313,258
1,170,353
GROSS PROFIT Administrative expenses
OPERATING PROFIT/(LOSS)
Interest receivable and similar income
PROFIT/(LOSS) BEFORE TAX Tax on profit/(loss) PROFIT/(LOSS) AFTER TAX
Retained earnings at the beginning of the year
Profit/(Loss) for the year RETAINED EARNINGS AT THE END OF THE YEAR
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Extracted from the audited financial statements of the Swedish Chamber of Commerce for the United Kingdom for the year ended 31 December 2021. 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 30 Orange Street London WC2H 7HF
Statement of financial position as at 31 December 2021 2021
2020
£
£
23,734
13,728
1,106,949
765,445
1,130,683
779,173
FIXED ASSETS Tangible assets Investments
CURRENT ASSETS Debtors: amounts falling due within one year
299,796
268,169
Cash at bank and in hand
403,627
573,459
703,423
841,628
(510,257)
(441,746)
Creditors: amounts falling due within one year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES
193,166
399,882
1,323,849
1,179,055
PROVISIONS FOR LIABILITIES Deferred tax
NET ASSETS
(4,401)
(2,512) (4,401)
(2,512)
1,319,448
1,176,543
6,190
6,190
1,313,258
1,170,353
1,319,448
1,176,543
CAPITAL AND RESERVES Revaluation reserve Profit and loss account
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