ANNUAL REPORT 2019
Integrated banking and wealth management We believe our customers’ interests should always come first, so our focus is on lasting relationships. We listen to what matters to you, your needs and priorities, and provide tailored solutions that can combine banking, wealth planning advice and investment management. Handelsbanken’s decentralised model is core to its success. Our customers benefit from dealing with people they know, and from swift, clear decisions made in the branch. To find out more about our distinctive local, relationship-based banking, go to: handelsbanken.co.uk/findmybranch We would be delighted to meet over a coffee to explore how you might benefit from a more personal banking relationship.
The value of investments and any income from them can fall and you may get back less than you invested.
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Our wealth and investment management services are provided by Handelsbanken Wealth Management and Heartwood Investment Management. Handelsbanken Wealth Management and Heartwood Investment Management are trading names of Heartwood Wealth Management Limited which is authorised and regulated by the Financial Conduct Authority (FCA) in the conduct of investment business and is a wholly-owned subsidiary of Handelsbanken plc. Handelsbanken is the trading name of Handelsbanken plc, which is incorporated in England and Wales with company number 11305395. Registered office: 3 Thomas More Square, London, E1W 1WY, UK. Handelsbanken plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 806852. Handelsbanken plc is a wholly-owned subsidiary of Svenska Handelsbanken AB (publ).
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Emerging stronger on the other side It is strange looking back at 2019 and the many milestones we celebrated, as the world is a very different place today. In the wake of the pandemic, societies and businesses have been challenged at unprecedented speed, shaking up our everyday lives, our ways of working, our supply chains, and in many cases our very business models. Nonetheless, it is important to both look back, at what was, and to look ahead, at what will come. Continuous learning, agility, digitisation and partnerships have emerged at the very core of our businesses, however these are hardly new trends, but have rather accelerated at super speed, as we needed it the most. The Swedish Chamber of Commerce in the United Kingdom was founded back in 1906, by businesses, for businesses. Since then, it has seen through two world wars and a Cold War, and it will see through this pandemic too. At the core of our business lies community, and that unique Swedish-British business relation. Beyond the pandemic, Brexit awaits us at the end of the year, and once again, we will serve as a platform for coming together, celebrating what unites us, and sharing ideas about the way forward. We will emerge stronger on the other side, in partnership. Looking at 2019, it was very much a year of change at the Chamber, and a journey towards something new, something positive and stronger (hence the tube map theme). Our focus has been on how we can best provide value to our wide range of members, looking at what a Chamber should be, and how we can be relevant today as well as moving forward. We grew a stronger team, fit to serve the many different needs of our members, from start-ups to large corporates. With new
accelerator and mentorship programmes, intimate roundtable events, large flagship Summits and conferences, a renewed focus on our members and the people behind them across our media channels (new and old), and new platforms for unique meetings, we are proud to have engaged a growing network, and met both old and new faces. The result is high member engagement, a happy membership (so the member survey says), and solid financial performance. This year, we hope to pull our community muscles together, fly the flag for the strong Swedish-British relationship, and celebrate the innovative strategies which will emerge stronger on the other side. We hope you will join us on this journey, as we look forward to working with you. Jan Olsson Chairman
Peter Sandberg Managing Director
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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 on +44 (0) 20 7246 4225 or privatebanking@seb.co.uk
Skandinaviska Enskilda Banken AB (publ) (SEB), London Branch sebgroup.com/privatebanking
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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 by the Swedish Financial Supervisory Authority and subject to limited regulation by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). Details about the extent of our regulation by the FCA and PRA are available from us on request.
2019 In brief 60
Over the course of 2019, the Swedish Chamber organised 60 events, from intimate roundtable discussions and exclusive forums, to networking events and major gatherings,filling 2,527 seats in total.
2019 saw the launch of a new website, a new series of podcasts and a revamp of the member magazine The Link - all to continue supporting and promoting Swedish-British business in the best way possible.
64 new businesses joined the Chamber as members in 2019. With 400+ members, representing all industries and sectors, the Swedish Chamber of Commerce for the UK is the largest and most active Swedish Chamber in the world.
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61.18 SCC Net Promoter Score
-100
0
100 Excellent
When asked how likely members are to recommend the Swedish Chamber to someone in their network, the SCC scored 61.18, which ranks as “excellent” on the Net Promoter Score scale (SCC member survey 2019).
80% of members find the membership offering very or extremely good (SCC member survey 2019).
“Having been members of the SCC for over a century, we have seen the organisation evolve with the times. With a marked uptick in business-relevant activity the year or so in the run-up to the current crisis, the SCC has yet again adapted to reality and moved what is already a very interesting set of themed topics to an online offering, providing an intimate setting for topical and up to date discussions.” Tomas Gärdfors, Partner, Head of Nordic, Norton Rose Fulbright LLP
80% The Swedish Chamber of Commerce for the UK is the ultimate business platform for Swedish and UK businesses. We help businesses establish, grow and develop, through our wide range of business services, matchmaking, events and programmes. We represent some 400 businesses, from start-ups, to SMEs, unicorns and large multinational corporations, from across all sectors and industries. Founded in 1906 – by business and for business – we have connected the Swedish-British business community for over a century. Join us today, if you haven’t already.
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Making the CASE FOR THE UK For over a century, the Swedish Chamber of Commerce has raised awareness of Swedish businesses and their products and services in the UK. As a proud export dependent smaller nation, access to the greater world markets has always been instrumental for its growth and prosperity. The United Kingdom has long been one of our closest trading partners, dating all the way back to Queen Christina and Oliver Cromwell’s treaty of friendship and trade in the 17th century, offering Swedish businesses a large domestic market, but also historically access to markets much further away. In recent decades, the Swedish brand has strengthened in the UK, and buying ‘Swedish’ is associated with both quality and sustainability. These are values many Swedish businesses embrace, and have embraced for years, and would consider part of their DNA. Whilst brand Sweden is strong and healthy in the UK today, the UK brand as a natural stepping stone for Swedish exporters is somewhat challenged by Britain’s exit from the European Union. A number of our initiatives in 2019 have focused on strengthening and articulating the value that the UK market can provide Swedish businesses, such as our London Bootcamp and the Growth Readiness Programme. The Chamber consistently made itself available to the media last year, to support the Swedish press with an unbiased view from Britain (14
features in the national Swedish press), and participated and spoke at a number of seminars and events. Whilst 2019 probably enters the history books as one of the most politically chaotic in Britain’s history, some much needed clarity was provided towards the very end of the year with the general election in December. Brexit will happen. And with Brexit comes added and new complexities for Swedish businesses wanting to setup here. The Chamber has taken a number of steps to make sure we are fully prepared to help and support.
As part of our mission to explain the UK market to Swedish entrepreneurs and businesses, we have teamed up with valuable and relevant partners over the year, including the UK’s Department for International Trade, the British Chamber of Commerce in Stockholm, and the Embassy of Sweden and Business Sweden in London, to name some.
Business services have always been provided by the Chamber, but never before by a dedicated team. As of 2019 this changed. Today, the Chamber boasts a business services de-
As for Brexit, we have hosted numerous roundtables, town halls and seminars on the topic in 2019, and will continue doing so – under the “Future Relationship” umbrella moving forward, for as long as needed and requested by our members.
13.2bn
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partment team of three, a revamped service offering, and much needed internal learning as a result. Already in our first year, some 80 businesses were supported by the team.
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Top 5 Fastest-Growing Sectors in the UK
Best place in Europe to seek investments
Low threshold to enter the market
1. 2. 3. 4. 5.
The amount of venture capital investment into technology firms climbed to a record £10.1bn in 2019. This makes the UK the best place in Europe to seek investments, and third in the world, after USA and China.
The UK is ranked #9 for ease of doing business (in a survey of 190 measured economies by The World Bank). According to the World Bank, registering a company in the UK takes 48 hours and setting up a business takes 13 days on average, while the European average is 32 days.
Transport and logistics FinTech Construction Digital marketing and advertising Energy
Sources: https://www.scb.se/hitta-statistik/sverige-i-siffror/samhallets-ekonomi/ https://www.business.hsbc.com/business-guides/uk https://www.openbusinesscouncil.org/working-in-the-uk-the-top-5-fastest-growing-sectors/ https://www.telegraph.co.uk/technology/2020/01/15/uk-tech-investment-surges-record-101bn-2019-despite-brexit-fears/
Swedish footprint in the UK There are 1,000+ Swedish businesses active on the UK market, contributing to more than 100,000 job opportunities.
1,000+
Trade between The UK and Sweden Sweden exported goods to the UK for SEK82bn in 2019. Imported goods from the UK to Sweden reached a value of SEK65bn.
First point of entry The Swedish Chamber helped some 80 businesses during the course of 2019 to make a footprint in the UK through its business services.
80 “I am delighted and honoured to support the Swedish Chamber of Commerce in the UK as Council Member and Chair of the Finance Committee. The Chamber is through its business services, events and other activities a powerhouse for building and supporting business and cultural links between Sweden and the UK. A key example of this is the Chamber’s relentless commitment to the technology and life sciences sectors and its support for innovation and entrepreneurs.” Dr Astrid Maria Dahl, Head of Transactions, Executive Director, Business Development and Licensing, Oncology R&D, AstraZeneca
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CONTINUOUS LEARNING Staying competitive and innovative have always been key to success in business. Moving forward, businesses and teams will have to embrace both agility and continuous learning. One of the Chamber’s natural strengths is its network of successful entrepreneurs and business leaders, and one of the main benefits of our platform is their willingness to share insight and experiences. For us it’s been key to develop this platform further, and to focus on what we can bring to the table. In 2019 we launched a number of new events and programmes aimed at supporting with continuous learning and professional development, in collaboration with member businesses and peers from our extended network. Business culture can sometimes be harder to decipher, the more similar culture appears to be. With Britain, Swedes feel familiarity and comfort, however our business culture has a number of distinctive and different traits. We launched the first Business Culture Course in 2019, focused on dealing with cultural differences in employment, leadership, communications, negotiations and much more. Looking at our members’ unique experience, we leveraged a fantastic group of speakers to the benefits of those either new to the country, or new to Swedish or British business culture. The programme is now a staple in our activity calendar.
Our Young Professionals (YP) is a great example. The YP celebrated 25 years as a sub-organisation to the Chamber in 2019, and connects young professionals with each other, as well as business leaders from our community. For 25 years, it has been the leading YP network of its kind. Research has shown that a majority of today’s young professionals experience a so-called ‘quarter life crisis’. Last year, we launched a revamped Mentorship Programme, focused on professional development and career support for ambitious young talent from across all sectors. The 2019 cohort, which launched in January, included some 13 mentees (from financial services to unicorns), and 13 mentors, representing senior business professionals. Over the course of 12 months, the mentors
“The Chamber provides a unique platform to meet, learn from and, sometimes, help Swedish companies to navigate one of the world’s few really global business centres.” Magnus Lewis-Olsson, Head of SAAB UK
25 years of young excellence The young professionals celebrated 25 years as a platform for networking, personal and professional development for young talents in the Chamber network.
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Mentorship Programme The Mentorship Programme for the next generation of leaders offers a unique opportunity for young professionals to benefit from an exclusive twelve-month programme of group workshops and individual mentoring by experienced and successful senior industry professionals from across the Swedish-British business community.
and mentees gathered on a number of occasions to discuss issues relevant to modern work life and career development, in addition to individual mentor-mentee meet-ups. The programme was a success, and the 2020 cohort has grown to even larger numbers. For many young Swedes, as with exporting businesses, London is the first foreign work experience. In support, and throughout the year, the YP offers master classes, courses, and inspirational sessions and boasts a diverse network, of both Swedes and Brits. In 2020, further changes were made to the YP, bringing professional development even more firmly into its core aims, and also connecting them closer to the rest of Chamber.
”We believe we receive an excellent return of investment from our membership with SCC. In addition to being able to leverage the chamber’s networking opportunities, the Chamber helps us stay connected with the UK business community, which is immensely important for us as an advisory firm, in order to keep a close contact with international existing or potential clients. The membership also provides us with positive recognition and exposure as a firm in relevant forums and at events.” Anders Fogel, Founding Partner of Fogel & Partners
Business Culture Course The Business Culture Course is targeted at Swedish, British or international professionals who have recently taken on a position in a Swedish or British company, giving insights into respective business cultures and provides participants with the tools necessary to understand and excel in their foreign workplace environments.
Brexit roundtables and townhalls The Swedish Chamber of Commerce has continually hosted Brexit related gatherings for its members, across all sectors and industries. From Brexit Town Halls to more intimate Brexit Breakfasts for various groups, these forums have offered an opportunity for businesses to update themselves, share experiences or find solutions to joint problems.
Virtual Roundtable Discussions The SCC’s Virtual Roundtables bring together tailored and differently composed, intimate groups of business leaders for interactive discussions. These by-invitation-only events take place virtually and follow the Chatham House Rule.
Business guides for SME’s Together with member businesses, we are producing guides to a range of topics relating to the setting up or running of a business, launching in 2020. The themes the span from tax, accounting and law, to marketing, HR and cyber security.
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PLATFORM FOR UNIQUE MEETINGS AND ENCOUNTERS What makes the Swedish Chamber of Commerce so special are all the unique businesses and professionals backing it. As one of the most active foreign Chambers in the UK, we offer first class networking through our 60+ events each year, and a diverse and interesting mix of activities. The membership comprises a wide range of sectors, industries and sizes of businesses, from entrepreneurs and SMEs to world leading businesses employing 10,000 people or more in the UK. Our 400 member firms all add to the community and a plurality of opportunities for establishing strong professional and personal relationships alike across sectors. Unique meetings and access are key ingredients. In 2019, the Chamber hosted 15 business breakfasts, giving intimate access to inspirational speakers, decision makers and influencers. The business breakfasts were introduced to give a platform for discussion, curated to connect and to slice the membership in interesting and sometimes surprising ways. From conversations with Rajesh Agrawal, London’s Deputy Mayor for Business, to H.M. Trade Commissioner Andrew Mitchell and Iain MacBeth, Head of Foresight at Transport for London, the roundtables give unique access to first-hand information.
In December, the first ever Swedish-British Summit was hosted, at Soho’s Ham Yard Hotel. The Summit, designed to create a more public platform for Swedish and British businesses, policy makers and influencers to meet, was a success. With 200 guests, the event wanted to strengthen the soft connection between Sweden and the UK, in light of Britain’s exit from the European Union. Discussing what unites us, as opposed to what divides us, and areas where we can learn from each other, the Summit addressed 21st century leadership, sustainability, people management and technological advancement. The speakers – from Håkan Buskhe at Saab to Fraser Nelson at The Spectator, Luke Griffiths at Klarna and a neuro scientist - engaged a participating audience and made the day memorable. The Summit – ‘Outer Thinking’ will return as a staple and flagship in the calendar.
In order for the Chamber to remain an interesting platform, oxygen and relevance are important. Recruiting the new generation of businesses has been a focus, and it’s been rewarding seeing many of Sweden’s unicorns claim their space as Patrons of the Chamber. But as important it is to see the next generation of Swedish businesses join the more established community, connecting with the wider UK business community is equally important. We do this through strategic invitations, interesting UK speakers, and activities reaching beyond London and into the regional heartlands. In 2019 we hosted receptions in Manchester, and in 2020 we’ve recharged our Midlands Chapter with a new chair, Jonathan Hofstetter, with the aim of more Midlands based activities. Regional activities also took place in our Humber and North East Chapters.
3% Transportation & Logistics 5% Authorities & Organisations
11% Retail & Consumer Goods
98% of members find the event offering good or very good (SCC member survey 2019).
3% Media & Printing 2% Life Sciences 7% Infrastructure & Construction 6% Industrials & Manufacturing 7% Hospitality & Entertainment 14% Financial Services
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400+
33% Business Services
98%
Member businesses across industries and sectors
5% Education & Training 1% Energy & Natural Resources
“The Swedish Chamber of Commerce in the UK is first and foremost a fantastic community to be part of, with members coming from a vast array of sectors. Their events, both large and small, are exceptionally well curated and professional. Their inclusivity is also a defining factor: they take the time to really get to know members and suggest helpful ways to get involved and make the most of this excellent network.” Linda Griffin, VP Public Affairs, King
Annual Cristmas Luncheon 2019, at The Landmark in London, with 500+ guests.
Swedish British Summit 2019: Outer Thinking, at the Ham Yard Hotel in London.
Dame Carolyn Fairbairn (Confederation of British Industry).
Tech Forum 2019 at Google’s London headquarters. Magda Lukaszewicz (Balderton Capital) with Heather Farmbrough (Forbes).
“All of us at EF hugely value our partnership with the Swedish Chamber of Commerce. Not only does our membership give us access to numerous thought-provoking events (both in-person and virtual) as well as associated networking opportunities with business leaders across multiple industries, but it also enables us to share our relevant initiatives and programmes with our fellow SCC members through newsletters as well as co-hosted webinars and dinners. We thoroughly enjoy working with Peter and his team, and look forward to an ongoing and mutually beneficial relationship.” Peter Burman, President, EF Education First
Link Up Drinks with Byredo at their London flagship store in Soho.
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Hélène Barnekow (Microsoft Sweden) presenting at Executive Forum.
200+ joined for Tech Forum 2019 at Google HQ.
Magnus Hall (Vattenfall) at the Swedish-British Dinner 2019 in Stockholm.
Anne Lewis-Olsson, Peter Högström (Cirio Advokatbyrå AB) at the Swedish-British Dinner 2019 in Stockholm.
YP business event at IKEA Greenwich.
Annual Crayfish Dinner 2019 at 1 Lombard Street.
Johan Lundgren (easyJet) and Nik Gowing (Thinking the Unthinkable).
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Pomp and Circumstance with the SCC Team at the Annual Christmas Luncheon 2019.
Count Bertil Bernadotte at the Annual Christmas Luncheon 2019, receiving the Member of the Year Award.
Breakfast with Julian David (techUK) at Charlotte Street Hotel.
Sir Roger Gifford (SEB) and Rajesh Agrawal (Deputy Mayor of London for Business).
Business Lunch with Marcus Samuelsson (Red Rooster) and Steve Edge (Steve Edge Design).
Leif Johansson (AstraZeneca) at Life Science Forum 2019.
Christian Schmidt-Jacobsen (Axcel), Petri Oksanen (Franscisco Partners), Jan Olsson (Deutsche Bank) at Nordic M&A Forum 2020.
Nordic M&A Forum 2020 vas hosted at Linklaters and welcomed 150 guests.
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ENABLER FOR GROWTH Many Swedish businesses see successful expansion to the UK as a gateway to the rest of the world. This is probably one of the main reasons for the 1,000+ Swedish businesses already present in the UK market. For over a century, the Chamber has been here to support businesses with know-how, experience, connections, door-openers and taking businesses, step by step into the UK. Using our local presence and extensive network, we enable businesses to develop and grow. In 2019, the Chamber launched its first London Bootcamp, in partnership with the Swedish Agency for Economic and Regional Growth and the UK Department for International Trade. The one-week accelerator programme, hosted during London tech week, targeted Swedish tech start-ups looking to build a presence and connection with London and the UK. Coming from different stages, the bootcampers were either ‘dipping their toes’ or trying to accelerate their newly formed UK operations. The bootcamp brought together valuable experience and expertise from the member network, put in front of those fresh to the market. The Chamber is very well positioned to facilitate this type of experience-sharing. As a follow-up to the London Bootcamp, we launched the Growth Readiness Programme in the autumn of 2019, connecting Swedish startups with London’s investment community. The one year programme offers a combination of workshops, presentations, matchmaking, mentorship and wider access to a powerful
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network of Swedish-British investment and tech professionals. For start-ups, it provides unique access to the largest financial centre and investment community in the world – and helps better position your business for capital raising and growth. For the investors, it provides a great network and connections into the Swedish start-up scene. Win-win. In follow-up to these initiatives, the business services department has ramped up its service offering in 2020, with practically supporting the setting up of start-ups in the UK, and introducing a new series of events called “Meet & Pitch”, where start-ups and SMEs connect with investors, sector by sector. The first event was hosted in March 2020, focused on medtech (in partnership with the Embassy of Sweden and the NHS), and the next one is planned for this autumn looking at proptech businesses (in partnership with PropTech Sweden).
We have now also launched a new series of events called “Running a Business”, solely focused on knowledge sharing, whether it’s best practice in marketing, accounting, finance or sales, we bring our members to the stage, and have them share their experiences. Kicked off in 2020, the Covid-19 pandemic offered a suitable launch pad, with a series of events aimed at supporting SMEs on employment rights, government subsidies, and leading teams online. The Chamber is a platform, and an enabler. We see our greatest value in connecting the dots, and bringing know-how together. Our strength is the strength of our network, and we will continue working on how best to act as a conduit of knowledge for our members.
Taking the firsts steps The Swedish Chamber helped 28 startups to take their first steps on the UK market through its London Bootcamp and Growth Readiness Programmes.
Building a network 37 matchmakings and meetings were facilitated through the London Bootcamp Programme in 2019.
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Helping Swedish Businesses Some 80 Swedish businesses were helped to start building their presence in the UK through the Swedish Chamber’s business services in 2019.
London Bootcamp London Bootcamp is a one-week accelerator programme especially designed for Swedish tech businesses looking to build a presence and connection with London and the UK. The programme takes place during London Tech Week and is open to Swedish tech businesses and start-ups.
“It was great to meet the companies and not let the current situation stop us supporting healthcare companies to help us solve many challenges that are as important today as they were a few months ago.” Tony Young, National Clinical Director for Innovation at NHS England (on the Meet & Pitch series)
Growth Readiness Programme The Growth Readiness Programme is designed for start-ups or businesses looking to expand their networks in the UK and get first-hand advice from experienced venture capital investors on their growth journey.
“For us the Growth Readiness Programme has been an excellent way to further grow our UK network of investors and industry professionals. The programme has given us a never before experienced connection to investors, with conversations on business opportunities and challenges, both during our 1-2-1s and in settings together with other entrepreneurs. A big praise to the SCC for being agile and restructuring the programme in order to continue creating value, when the world turned upside-down during covid-19.” Erik Wallin, CMO and Co-founder of Northfork
Meet & Pitch Meet & Pitch is a series of events connecting the UK investor community with the brightest up and coming businesses on the Swedish startup scene. Each event, featuring speed-dating and pitching sessions, will be focusing on different industries and sectors. The first Meet & Pitch, organised by the SCC on behalf of the UK Department for International Trade, focused on Swedish businesses within life science, biotech and health tech. A second Meet & Pitch taking place in late 2020, will invite businesses and stakeholders of the PropTech industry to meet with London based experts and attend a crashcourse about the UK market.
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SHARING THE STORIES OF OUR MEMBERS Last year saw great effort in updating and strengthening our messaging and profile across all communications platforms. With a brand new website, unprecedented PR, updated Link magazine, new podcast series, a successful social media strategy and an increased readership of our newsletters, we are reaching wider and deeper into the Swedish-British business community.
Telling the stories 132 member businesses were featured in the Link magzine in 2019. The Link is published 5 times per year, is printed in 3,000 copies and has an estimated annual readership of 30,000.
In 2019, we decided to go back to the very core of our business, and focus on our members. A visit to our website, reading the Link magazine, or browsing our social media, one noticed a distinct story being told about our members, the people behind them, the products they sell, the services they offer, their stories, their challenges and their successes.
We wanted to humanise and show what we are made of; businesses and the professionals behind them. From across our platforms, we share the stories of our members, hoping to both inspire and to spread knowledge and best practice across the network. You will be able to both see, hear and read lots more about our members in the coming year.
Hub for communications A new webiste with focus on the member offering and services was launched in 2019. The website is the hub of the Chamber’s communications, generating approximately 12,000 page views and 5,000 monthly visits.
Reaching wider 3,300 subscribers receive the Chamber’s newsletters every week, with upcoming events and news from the Swedish-British business community.
132 12,000
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3,300
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Making a mark in the press The Swedish Chamber was featured 14 times in the national Swedish press over the year. Trending topics were Brexit and how the Chamber helps Swedish businesses to establish and grow in the UK.
Growing our following By the end of 2019, the Swedish Chamber had 5,729 followers on LinkedIn. This was an increase of 30% from the previous year. The Chamber also grew its following across its other social media platforms: Twitter: 2,530 (+4%) Instagram: 1,051 (+40%) Facebook: 941 (+20%)
99% of members find the SCC communications good or very good (Member survey 2019).
Streaming on Spotify and Apple podcasts In 2019 the Swedish Chamber launched a podcast series featuring members and professionals from the network. The podcasts are available on Spotify and Apple Podcasts. In total, the podcasts have been streamed 1,000+ times across all platforms.
99% Linda Griffin, VP Public Policy at King, and Mats Granryd, Director General of GSMA.
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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. 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.
Chairman Jan Olsson Deutsche Bank
Managing Director Peter Sandberg SCC UK
Honorary President H.E. Torbjörn Sohlström Embassy of Sweden
Vice Chairman Dr Björn Savén IK Investment Partners
Vice Chairman Lars Olsson Stena Line
Vice Chairman Magnus Lewis-Olsson Saab
Magnus Ahlqvist Securitas Security Services
Suzanne Bolinder Consido
Peter Burman EF Education First
Niko Ek Scandinavian Airlines
Mark Florman Time Partners
Alex Haddon IC Design
Claes Jacobsson Scania
Marielle Lindgren Ericsson
Kerstin Mogull
Hans Otterling Northzone
Ola Rollén Hexagon
Mikael Sørensen Handelsbanken UK
Tania Tandon TandonHildebrand
Adine Grate Corporate Advisor and Non-Executive Director
Alexander Goodwille Goodwille
Magnus Damberg SEB
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, Sir Roger Gifford, SEB 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
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Dr A. Maria Dahl AstraZeneca
In attendance Honorary Secretary, Johan Aurén, Accountum YP Representative, William Ranby, Accenture Honorary Solicitor, Geraldine Elliott, RPC
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 FORUM
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.
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 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 Birgitta Albåge Gough-Cooper, Lazard UK Johan Aurén, Accountum Dr Maria Dahl, AstraZeneca Kristian Terling, HSBC Astrid Trolle Adams, Logos Legal Services Helena Whitmore, SEB Managing Director, SCC Financial Controller, SCC
Magnus Lewis-Olsson, Saab, Chair Jan Olsson, Deutsche Bank Adine Grate, Corporate Advisor and Non-Executive Director 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 Benjamin Webb, Deliberate PR Managing Director, SCC Marketing & Communications Manager, SCC Events & Programmes Manager, SCC Membership & Community Manager, SCC Business Service Manager, SCC
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, Chair Anna Tranchell, WMP Creative Louisa Adde, KPMG Matthew Blakemore, BBFC
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 West (Manchester), the Midlands (Birmingham), Humberside (Immingham) and in the North East (Newcastle). 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.
NORTH WEST CHAPTER
HUMBER CHAPTER
Chair: Annette Borén, Hilti
Chair: Camilla Carlbom Flinn, Carlbom Shipping
NORTH EAST CHAPTER
MIDLANDS CHAPTER
Chair: Caroline Theobald, CBE
Chair: Jonathan Hofstetter, Fieldfisher
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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 Department and Membership & Community.
Management & Operations
Business Services Helps members and businesses with a range of business services to support both Swedish and British businesses establish, grow and develop. We accept inquiries 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 our 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 our 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.
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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Peter Sandberg Managing Director
Peter McNamee Financial Controller
Anna Crona Business Service Manager
Madeleine Hjalber Sten A. Olsson Foundation for Research and Culture Scholar
Baltsar Lindgren Intern
Mathilda BĂśrjesson Events & Programmes Manager
Anna Dahqvist Thuresson Scholarship Fund for Swedish Youth Abroad Scholar
Philip Rask Intern
Jonas Eklund Marketing & Communications Manager
Sara ApĂŠria Handelsbanken UK Scholar
Hedvig Astberg Intern
Sofia Larsen Senior Manager Membership & Community
Henrik Barkman Gull & Stellan Ljungberg Foundation Scholar
Emilia Nordin Intern
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 various scholarship programmes. Generous scholarship donors have made these opportunities possible. 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. In 2019, six different foundations and scholarships supported our work, and offered a platform for young aspirational students. Many thanks to our donors in 2019.
SCHOLARSHIP DONORS 2019
Hvitfeldtska Gymnasiet & Göteborgs Köpmannaförbund
Lund University
Gull & Stellan Ljungberg Foundation
Scholarship Fund for Swedish Youth Abroad
The Sten A. Olsson Foundation for Research and Culture
Handelsbanken UK
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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 50 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.
Supporting the business community The patronship today consists of 50 member businesses across industries and sectors.
50 New Patrons 2019 EF Education First King Haypp Spotify SSAB Gunnebo Entrance Control Quinyx Securitas
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Council & Patrons’ Forum In 2019 the Chamber launched the annual Council & Patrons’ Forum in Stockholm. The purpose of the Forum is for the Council and the patronship to address future challenges and opportunities together, and discuss how best we can add value to the joint efforts within the Chamber framework.
Executive Forum The Executive Forum is one of the Chamber’s most exclusive events series, dating back to the 1990s. The purpose of the Forum is to gather senior business leaders from within the network and the patronship to create new bonds and synergies. Over the last few years, it has attracted some of the most prestigious keynote speakers in the Swedish-British community. In 2019, Hélène Barnekow, CEO of Microsoft Sweden was invited to speak at the Ambassador of Sweden’s Residence.
New Patrons 2020 (YTD) DFIN Mercuri Urval Trustly Husqvarna Swedish Match
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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 improved 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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FINANCE SWEDISH CHAMBER OF COMMERCE FOR THE UNITED KINGDOM (A company limited by guarantee)
Statement of comprehensive income for the year ended 31 December 2019
Turnover Cost of sales
GROSS PROFIT Administrative expenses
OPERATING PROFIT/(LOSS) Other income Interest receivable and similar income
PROFIT BEFORE TAX Tax on profit PROFIT FOR THE FINANCIAL YEAR
2019
2018
£
£
794,970
643,408
(187,067)
(138,838)
607,903
504,570
(606,655)
(516,164)
1,248
(11,594)
600,453
320,000
1,454
512
603,155
308,918
(115,035)
(59,908)
488,120
249,010
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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 2019. 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 2019 2019
2018
£
£
19,551
15,797
-
2
19,551
15,799
FIXED ASSETS Tangible assets Investments
CURRENT ASSETS Debtors: amounts falling due within one year Cash at bank and in hand
Creditors: amounts falling due within one year
313,795
309,604
1,353,587
802,675
1,667,382
1,112,279
(495,192)
(425,017)
NET CURRENT ASSETS
1,172,190
687,262
TOTAL ASSETS LESS CURRENT LIABILITIES
1,191,741
703,061
PROVISIONS FOR LIABILITIES Deferred tax
NET ASSETS
(3,552)
(2,992) (3,552)
(2,992)
1,188,189
700,069
6,190
6,190
1,181,999
693,879
1,188,189
700,069
CAPITAL AND RESERVES Revaluation reserve Profit and loss account
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