February 2019

ISSUE 344 - FEBRUARY 2019 PREPARING FOR BREXIT

Link THE

THE SWEDISH CHAMBER OF COMMERCE FOR THE UK

The LINK ABOUT

The Swedish Chamber of Commerce for the United Kingdom is a business organisation aimed at inspiring, promoting and extending commercial and industrial relations between the UK and Sweden. Our membership comprises 400 influential firms, ranging across all sectors and industries, from large corporates to SMEs and entrepreneurs, located in both the UK and Sweden. Founded in 1906 - by businesses and for businesses - we have represented Anglo-Swedish companies and entrepreneurs, delivered first-class services and events for over a century.

S C C PAT R O N S

EDITORS OF THE LINK

LINNÉA LINDGREN

ERIK HELLDÉN

LUND UNIVERSITY SCHOLAR LINDGREN@SCC.ORG.UK

COMMUNICATIONS INTERN HELLDEN@SCC.ORG.UK

NOT A MEMBER YET? Visit www.scc.org.uk or contact the Secretariat on +44 (0)20 7224 8001 / info@scc.org.uk

The LINK THE CHAMBER

Dear Members, We have an exciting and eventful year ahead of us. I think you will all agree this is no understatement. This truly applies to the SCC too. We are launching a range of new initiatives, all aimed at providing added value, new insight, relevance and interesting connections for our Members. Following the general election in September last year, Sweden finally appointed a new government in January. The outcome of the election created a unique and problematically hung Parliament forcing new coalitions. The Social Democrats, under the leadership of Prime Minister Stefan Löfven, and the Green Party will remain in power, with a formal budget agreement in place with the Liberals and the Centre Party, formerly of the centre-right coalition. Business and trade organisations have welcomed the formation of a new government. In Britain, the stalemate of the Brexit process continues, after Theresa May’s government lost the vote on her deal in Parliament, with historic numbers. With the exit date – 29 March 2019 – looming ever closer, a cliff hanger seems inevitable. This puts pressure on businesses operating in the UK, and their preparations for the potential of a ‘no deal’ exit. The SCC continues to host a series of Brexit town halls and roundtables, aimed at providing a forum for its Members to discuss, share experiences, concerns and opportunities. Look out for events in our calendar on www.scc.org.uk. Brexit is also the theme of this issue of the LINK, and we

have taken the opportunity of looking at Brexit’s impact on a range of Member businesses, from those importing goods, those advising businesses in these challenging times, to those who are seeing opportunities. Beyond politics, the SCC is upping the game in its support for aspiring Swedish businesses. We are recruiting for a Business Services Manager, the first ever, to assist and support businesses setting up or doing business in, or with the UK. We are also proud to launch a ‘London Boot Camp’ in partnership with the Swedish Agency for Economic and Regional Growth (Tillväxtverket) aimed at helping Swedish businesses on their journeys to or through the UK. The fiveday programme, featuring workshops, company visits and meetings with financiers and inspirational entrepreneurs, will take place during London Tech Week in June, which includes the SCC’s Tech Forum and Tech Fest on 13 June. Lastly, I would like to extend a warm welcome to our newest members; BKL, Casall, Chilworth Manor Vineyard, Essity UK Limited, Jurek Rekrytering & Bemanning AB, KGH Customs Services UK Ltd, NFT Ventures, North Star Law, Oury Clark, Redgert Comms AB, Rowan Tree Capital and Telavox Ltd. We have also had the immense pleasure of welcoming four new Patrons; EF Education First, King, Klarna and Tetra Pak. The Swedish Chamber of Commerce is a community of businesses and entrepreneurs - let us all make them feel welcome.

PETER SANDBERG, MANAGING DIRECTOR SWEDISH CHAMBER OF COMMERCE FOR THE UK SANDBERG@SCC.ORG.UK

Donâ&#x20AC;&#x2122;t just hope for a better future. Plan for one. The LINK FEATURE

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Contents THE LINK • ISSUE 344 • FEBRUARY 2019 PREPARING FOR BREXIT

05 BUSINESSES PREPARING FOR THE BIG EXIT 09 THE IMPACT OF SHORT-SIGHTED POLICY 12 DR ANDERS WALL AWARDED FOR HIS LONG-TERM SUPPORT AT LONDON LUNCHEON 13 GETTING A GRIP ON CULTURAL DIFFERENCES 15 ON BREXIT 18 HELLO MEMBER: COOL COMPANY 19 MEMBER HIGHLIGHTS: IKEA & HOME GROWN 21 PREVIOUS EVENTS PHOTOS 31 YOUNG PROFESSIONALS 33 NEW MEMBER AND PATRON PRESENTATIONS 36 INTRODUCING NEW MARKETING AND COMMUNICATIONS MANAGER JONAS EKLUND 37 MEET JON WAKEFIELD, VOLVO CAR UK 4

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BUSINESSES PREPARING FOR THE BIG EXIT BY: LINNÉA LINDGREN

Ever since the referendum in June 2016 when the United Kingdom voted to leave the European Union (EU), clouds of uncertainty have circled over businesses. Harsh discourse, disputes, finger-pointing and threats, features of your typical divorce, have been every day occurrences. It is near impossible to predict all the future effects of Brexit but nonetheless 29 March is right upon us. Businesses do not have a single view about Brexit and depending on which sector your business operates in, the differences in opinions, concerns and preparations may differ considerably. What do our Members make of Brexit? How much of an adjustment is it for them? And what are they doing to prepare?

Hiscock, Managing Director, and Steve Cock, Director Customs Consultancy, a ‘no-deal Brexit’ will lead to massive logistical difficulties. They acknowledged that Brexit will mean a great deal more work for KGH, both as a customs broker and a customs consultancy. They said: “At this time, 65 million customs declarations are presented each year in the UK and Brexit will increase this by a minimum of 200 million. The same number of reciprocal declarations will be required in the countries of dispatch/receipt, so 200+ million declarations will also be required across the EU. As companies

The LINK spoke to four Member companies; international bank Danske Bank, customs advisory KGH Customs Services, international law firm Reynolds Porter Chamberlain and Swedish grocer and retailer TotallySwedish, trying to assess what Brexit means to their respective businesses and what challenges, or indeed opportunities, lie ahead. Europe’s largest independent customs broker, KGH Customs Services (KGH) expanded into the UK in May 2018, seizing a unique opportunity for their business growth. According to Des Des Hiscock, KGH Customs Services

try to adapt to this change, they will look to our consultants to set up customs warehouses or assist in the classification of their goods for customs purposes.” Some of the biggest challenges that the UK faces are the insufficient number of brokers, severe delays and a potential free trade agreement (FTA), as emphasised by Hiscock and Cock. The limited number of brokers within the industry and within HMRC will make it impossible to process the extra 200+ million declarations. “Delays are certain and this would go on for months. A deal with Europe will allow an orderly transition towards a FTA. If successful, in addition to considering how to classify their goods, companies will have to invest time in determining the origin of their goods in order to benefit from the FTA. This would be particularly true in areas where duty rates are high, e.g. automotive, textiles, food, etc.” NOT LETTING IT KILL THE FUN Annethe Nathan is the Founder and Owner of TotallySwedish. With two stores in London, Marylebone and Barns, and an online shop which offers UK wide delivery, TotallySwedish sells Swedish food products and a range of Swedish design products, books and gifts. Nathan said that it is hard to say at this stage what the biggest challenges for TotallySwedish will be as we still do

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not know what Brexit means in practice. Yet, as a business that relies on stocking food products from Sweden and with the majority of their customers being Swedes living in the UK, Nathan said that she can imagine that there will be many new levels of bureaucracy in importing stock, as well as potential additional taxes. In addition, she said that Brexit will almost certainly have an impact on currency exchange, which may affect TotallySwedish since a great amount of products are imported from Sweden. One specific concern for TotallySwedish is the fresh goods. Nathan said: “There is a concern that fresh goods may not clear customs in time to be sold before the expiry date. We are stocking up on dry goods but obviously cannot do anything about the fresh goods.” Even though the questions are still many and the effects of Brexit are not sorted out, Nathan was in good spirits stating that: “I have run TotallySwedish for more than twelve years and I have enjoyed every day of it! Although Brexit is a concern for us, as it is for everyone, I’m determined not to let it kill the fun!” Mikael Olai Milhøj, Senior Analyst at Danske Bank, chooses a balanced approach too. He said that while Brexit is bad in the long-term perspective, with lost benefits from free and open trade, Danske Bank does not think Brexit is an economic catastrophe, and thinks the cost is manageable. Unless we end up in a ‘no-deal Brexit’. According to Olai Milhøj, Brexit is first and foremost a British issue, but unfortunately there are negative spillover effects on the Nordic economies due to the large trading flows between the three Scandinavian countries and the UK. Finland is an exception and is only hit indirectly through the large trade flows

Annethe Nathan, TotallySwedish. Photo: Monika Agorelius

with Sweden. The UK market remains among the five biggest export markets for all three Scandinavian countries. Regarding the effects we can expect to see on trade, foreign exchange and business, Olai Milhøj stressed that it is highly dependent on the outcome of Brexit. He said: “In our base case with a ‘decent Brexit’, where the UK leaves the EU single market but on orderly terms, we think markets can start pricing

of the ‘no-deal Brexit’ risk premium, which should lead to a stronger GBP. The economic consequences should be manageable, as the relationship between the EU and the UK will remain close. This means that long-term growth in the UK and the EU would remain relatively unchanged”. On the other side of the coin, he said that a ‘no-deal Brexit’ would not mean the end of the world, but the short-term damages may be large as

KGH Customs Services

Danske Bank

KGH Customs Services has been providing customs brokerage services since 1963. Today, they offer a comprehensive range of border-related services to over 28,000 customers all over Europe.

Danske Bank is an international bank headquartered in Copenhagen, Denmark. It is the largest bank in Denmark and a major retail bank in the northern European region with over 5 million retail customers.

Reynolds Porter Chamberlain

TotallySwedish

Reynolds Porter Chamberlain is a corporate and insurance law firm founded in 1898 headquartered in London, United Kingdom with offices in Bristol, Singapore and Hong Kong.

TotallySwedish was founded in 2005 by Annethe Nathan and Teresia Bergsand. With two stores in London, Marylebone and Barnes, TotallySwedish sells Swedish food products and a range of Swedish design products, books and gifts.

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companies adapt to the new relationship Brexit process being intrinsically political, with more trade frictions. it has been impossible to definitely state how it will affect their clients until a final He also noted that in the long-run it deal is signed between the UK and the means that growth will not be as high EU. This they say, should be the same as previously, in particular in the UK. for any international law firm. Even When discussing how Danske Bank though the questions are still many, they will prepare for Brexit, Olai Milhøj said: strongly believe in continuing to provide “Unlike e.g. American and Asian banks, their clients with carefully substantiated we already have a bank licence in EU27 advice. They said that their clients have so we are still able to operate in the been concerned about the effect of European single market for financial Brexit for several reasons depending on services regardless of how Brexit ends.” sector. For example, clients have asked Olai Milhøj emphasised that Danske for advice on (i) how certain contractual Bank is following the negotiations for two clauses will be interpreted, especially reasons; Danske Bank wants to prepare jurisdiction and choice of law clauses, in and update its clients as well as be able various Brexit scenarios, (ii) applications to transfer insurance business to Europe as well as (iii) general corporate advice Geraldine Elliot, RPC relating to Brexit, including explanations of which laws will continue to function and which will not.

Mikael Olai Milhøj, Danske Bank

to help the clients based in the UK also after Brexit. He said: “We do our utmost to ensure Brexit hits our customers as little as possible.” POLITICS AND RAPID CHANGES POSE CHALLENGES Geraldine Elliot and Sukh Ahark, both Partners at Reynolds Porter Chamberlain (RPC), also highlighted the importance of providing their clients with advice as one of their key preparations leading up to Brexit. In order to do so, they have been monitoring the political and legal situation carefully to provide clients with updates as and when needed. However, they point out that as a result of the rapid changes over the last two years and the

The continued uncertainty around the leaving process and what the final deal will look like is the biggest concern. In addition, the uncertainty of a ‘no-deal Brexit’ is potentially a huge challenge for RPC’s clients which could be manifested in a number of ways, both legally and commercially. Elliot and Ahark raised several examples such as foreign exchange fluctuations, uncertainty for contracts previously governed by the law of an EU member state, the continued or discontinued membership in international bodies related to the EU as well as the mechanisms for enforcement of judgments from other EU member states Sukh Ahark, RPC will not necessarily remain intact. obligations under the contract. This “As the leave date gets closer, clients could be as a result of existing contracts might find it harder to plan effectively becoming unenforceable or because of for the future. One of the key risks is the operation of force majeure clauses. the volatility within the foreign exchange The second concerns the commercial market and the impact on supply chains relationship which exists outside the (including exports) and bringing goods contract. If that relationship is beneficial to market. This might expose various to both parties, it will be in the interests entities to a range of risks that they could of both to ensure that it continues. If, find expensive to hedge against”, they following Brexit, the relationship is no said. longer beneficial, certain contracts may simply not be renewed and counterparties But how can clients avoid contractual may look to Brexit as an excuse for early breaches and keep delivering the same termination. business experience to customers post Brexit? Elliot and Ahark highlighted two For more information on how to prepare separate key considerations that should for Brexit visit www.scc.org.uk. be taken into account. The first is whether the counterparty can discontinue its

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The impact of short-sighted policy Nobel Prize winning economists on Brexit, employment and the theories which made them famous WORDS: LINA SENNEVALL

Photo: UBS

It can be argued that one of the world’s most prestigious accolades you can be awarded is the Nobel Prize, whether you are a researcher, academic, scientist, author or economist. The LINK had the honour of speaking to two of these laureates; Norwegian Finn E. Kydland and Cypriot-born Christopher Pissarides when they visited London. We talked to them about their award-winning theories, Brexit and the biggest challenges ahead, whilst participating in the UBS event ‘Nobel Perspectives Live!’. The event is part of a UBS initiative, partnering with Nobel Laureates in Economics to explore the life and work of these great minds. The ambition is to inspire, educate and strengthen people’s understanding on the big issues shaping the world and our lives.

businessman Alfred Nobel signed his last will and testament, giving the largest share of his fortune to a series of prizes in Physics, Chemistry, Physiology or Medicine, Literature and Peace. Namely, the Nobel Prizes. It was Nobel’s wish that the bulk of his fortune would be awarded to individuals who had during the preceding year conferred the greatest benefit to humankind. Ever since 1901, five years after Nobel’s death, the Nobel Prize has been honouring individuals from all around the world as well as putting Sweden on the map. The Sveriges Riksbank Nobel Prize in Economic Sciences was first introduced in 1968 and since then, 81 laureates have been presented the award.

his Nobel Prize. He went on to explain that the prize was awarded to him and his research colleague Edward Prescott for two reasons; one was related to business cycles and a new framework to analyse these and the other was the theory of why central banks should be independent.

According to Kydland, the extent to which banks are independent varies a lot. “In the old days, the German Bundesbank were the champions of good monetary policy. It was consistent and you could depend on what they were doing. Another country we have studied which is on the other end is Argentina, where the monetary policy is about as bad as it gets.” He added that the Scandinavian “You should ask my wife to explain it. countries also rank highly among the When I try to do it, it takes ten minutes, countries with good monetary policies. but my wife does it in one sentence. “After 2004, I have spoken to the heads She says, ‘he showed why central banks of the Swedish and Norwegian central On 27 November 1895, the Swedish should be independent’,” Finn E. Kydland banks and they claim that they are very inventor, entrepreneur, scientist and said when asked about how he earned much aware of our theory and that it influences their thinking”, Kydland said. When being asked about the biggest challenges ahead in his field of research, Kydland emphasised the importance of short-sightedness. He explained: “To me, the biggest risk is that nations will succumb to the time inconsistency problem which in laymen terms just means that policy becomes very shorttime oriented instead of thinking about the long run. A notable example of shortsightedness is from three-four years ago when I predicted that we were likely to see more and more countries impose trade restrictions. I must admit that I did not predict that the big push would come from the United States, but here we are and see what happened. In my view, this Finn E. Kydland and Moderator. Photo: UBS

The LINK FEATURE is an example of something that looks together with a single price that will tempting to naïve politicians in the short satisfy everyone. There is something that run.” interferes there. Something that doesn’t match.” Kydland also pointed out that the way of thinking is one of the reasons why some Pissarides and his research colleagues Latin American countries have seen then started to look at what the reasons slower growth than for example Asian could be for this friction and what keeps countries like Japan and Hong Kong. employers and employees apart. “It’s “Some Latin American countries just usually skills requirements that the willy-nilly impose trade restrictions and employer want that are different from are not realising that it’s a bad idea. If you what the worker can offer but it’s not try to protect domestic industries it gives always that black and white,” he said. He those industries less incentive to be added that other factors include other job more productive over time which means opportunities that need to be considered that in the long run, it actually reduces the nations productivity.”

more about tech and the impact it will have. We published a study, we called it ‘the job creating and job destruction’. We are seeing that today with jobs being created by the development of AI but there is also job destruction. I think there is a good balance, but workers must make the transition from destroyed jobs to the created ones.” Although tech can be seen as an opportunity as well as a challenge, Pissarides pointed out that the biggest future challenge in his field is inequality. He said: “New tech companies have

BREXIT IS SHORT-SIGHTED Another recent example of shortsightedness is the UK’s decision to leave the European Union, according to Kydland. He said: “The main problem with Brexit and the discussion around it is the amount of uncertainty there is. In order to make important decisions in the field of economy there needs to be a sense of what the future government policy is going to be. The Brexit discussion has introduced a lot of unnecessary uncertainty.” Fellow Nobel laureate Christopher Pissarides agreed with Kydland and said that Brexit creates a lot of worries and concerns for businesses as well as individuals. Pissarides, who was awarded the Nobel Prize in 2010, has mostly done research on the labour market and macro economy and said that the debate around immigration before the Brexit referendum “was naïve”. He said: “To think that immigration is taking jobs is complete nonsense. You should see it in a more rational way. Ask yourself where bottlenecks are and what they can contribute with. In fact, I would say that overall, immigrants contribute more to a country than they take out of a country. This is especially true for the immigration of Europeans in the open market.” Pissarides was awarded the prize for his “analysis of markets with theory of search frictions”. He explained that he had researched the reason why unemployment levels were rising while there were jobs still available and what connection this had to the support that governments give the unemployed in different countries. “We noticed something that we call friction in this case. It means that you can’t quite bring the supply and demand of labour

Christopher Pissarides. Photo: UBS

as well as the government support offered. Pissarides said: “Suppose the government comes along and says we are going to give you some support, some income, then the pressure on you to make a quick decision is reduced, it’s practically gone, so it could take months to decide. You remain unemployed for nine months out of a year. But if the government says it’s your problem, find a job, then you think you need to take a job immediately. That’s one factor that explains the higher unemployment in situations where you have more generous unemployment compensation.”

a tendency to have a concentration of economic power. You get global companies like Google, Apple, Amazon and Facebook that are global companies. Managers become extremely wealthy compared with the workers whereas the manufacturing industry wasn’t like that with minor exceptions.”

Despite becoming science superstars and recognised all over the globe after winning the Nobel Prize, both Kydland and Pissarides continue to do research and teach in their different fields. Kydland said: “It is true that once you get the prize it changes your life and you have RELEVANT AS LONG AS THERE IS less time. But research is the reason I UNEMPLOYMENT became a professor and ended up doing Although his research dates back what I do so I make sure I keep up the decades, Pissarides said that his theory research with my co-authors.” will be relevant as long as there is unemployment, despite the introduction Nobel Perspectives explores the life and of new technology such as Artificial work of Nobel Prize Winners in Economics Intelligence (AI). “Even now with robotics through an online platform and a global and AI this is still the theory being used event series, Nobel Perspectives Live!. to try and understand what implications it Four successful events have taken place will have for unemployment. Tech always to date in Shanghai, Singapore, NYC, and affects the development. In the 70s we London. More info on www.ubs.com/ had this realisation. We started thinking nobel.

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The LINK AWARD

Dr Anders Wall receiving the SCC’s Inaugural Extraordinary Member Award. Photos: Matthew Pearl

Dr Anders Wall awarded for his long-term support at London luncheon On 7 December, 2018, the Swedish Chamber of Commerce for the UK (SCC) presented Dr Anders Wall with its Inaugural Extraordinary Member Award. Dr Anders Wall was recognised for his “dedicated, outstanding and long-term support of the Chamber’s mission to promote Anglo-Swedish business relations”.

students to intern for a year’s work at the Chamber’s secretariat, providing young scholars with unique experience, but also providing the Chamber with continuous access to talent.

The award was presented to Dr Wall on 7 December 2018 at the SCC’s Annual Christmas Luncheon - the largest Swedish Christmas lunch outside of Sweden Dr Wall is a long-standing Member of the at The Landmark Hotel in London by SCC and is an Honorary Vice President the SCC’s Chairman Jan Olsson, CEO of its Council. Over decades he has Nordics at Deutsche Bank. supported the Chamber’s efforts in Anglo-Swedish trade, and has been Peter Sandberg, Managing Director of a generous donor of a scholarship for the SCC said: “Dr Wall has supported the Chamber with a scholarship, as the first ever donor, since the early 1980s, providing stability, security and an entrepreneurial spirit at the Chamber. His and his foundation’s contribution have been instrumental to the success of the Chamber and have also served as an example and inspiration for others to follow.”

Dr Anders Wall at the Christmas Luncheon

Many of Wall’s scholars (Wallumni) are today successful entrepreneurs and business people in their own right. Many of them are also Members of the SCC.

The Extraordinary Member Award will be presented annually to formally acknowledge and recognise individual support and contribution to the Chamber’s mission and work by Members of the SCC.

Industrialist, entrepreneur, philanthropist... Dr Anders Wall became Sweden’s youngest CEO at the Stockholm Stock Exchange at age 30 and resigned as its oldest Chairman at age 85, heading the board of Beijer Alma. As Chairman of companies like Beijerinvest and Volvo he has contributed considerably in modernising Swedish industrial life. Dr Wall is one of Sweden’s principal patrons of the arts and a committed supporter of young entrepreneurship. Dr Wall is Chairman of Beijerstiftelsen, Dr. Medicine h.c., Dr. Econ h.c., Dr. Agr h.c. and Honorary Fellow at Uppsala University.

BY: LINNÉA LINDGREN

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Getting a grip on cultural differences The SCC launches training courses to support professionals and teams in understanding, making sense of and tackling Swedish and British corporate cultures WORDS: ERIK HELLDÉN

Regardless of profession, understanding the business culture of one’s workplace is a key driver for the success - or failure - of any employee. Cultural nuances in management, decisions and business functions can be difficult to grasp, especially if you are relocating to a different country. Sweden and the UK have a long history of trading together, but the differences between the countries can be bigger than you might think. “In the UK, it can even be hard to find the right address to a company,” said Tania Tandon, director of the SCC’s new training course that launches in March. The aim of the upcoming Business Culture Foundation Course is to give participants insight into both Swedish and British business cultures and provide the necessary tools to excel in each country’s workplace environment or corporate structures. The foundation consists of two separate courses: ‘Making sense of Sweden’, and ‘Making sense of Britain’ focused on two different target audiences. The LINK spoke with Tania Tandon, director of the course and co-founder and partner at UK law firm TandonHildebrand, and Elisabet Vinberg Hearn, CEO at Katapult Partners and one of the course’s speakers, about their take on the differences in business culture and what participants can expect. “The cultural differences between Sweden and the UK are not huge, which

is why the two nations trade very well together”, said Tania Tandon. “Language is usually not a problem - it is more the cultural usage of the language that can cause issues. For example, Swedish people relocating to the UK are coming to an environment where it is more difficult to get hold of the right people to do business with. You have to network and search for them - and then decide which ones are right for the business. That is a huge difference. On the contrary, accessibility is not an issue in Sweden, where it is easy to find the right

“It often surprises Swedish people coming to the UK that they have to develop their networking skills before they can even talk about their product” - Tania Tandon

partners, businesses and customers. It often surprises Swedish people coming to the UK that they have to develop their networking skills before they can even talk about their product. That whole stage of the process can be frustrating and come as a surprise. In the UK, it can even be hard to find the right address to a company”. Elisabet Vinberg Hearn will speak on the ‘Leadership’ sessions of the courses that will focus on managing international teams, management approaches and

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workplace behaviour. She emphasised the real connection between the two countries: “It can be easy to overlook or not quite appreciate the difference in culture that actually exists, because we appear so similar”, she said. “We are all creatures of habit and as we progress in our careers, we learn what works and what doesn’t work, and we use that to guide us in our work setting dayto-day. Leadership is a big part of how an organisation works. When we start working in a different business culture, we need to ‘reset’ our understanding of what is expected of us by our leaders and what people expect of their leader in the new environment”. “Swedish people have a lot of respect for British culture, and for British people”, said Tandon. “Similarly, even though Sweden is a much smaller country, British people have enormous respect for Sweden. I think it is a great alliance. Because of this mutual respect, the exchange of knowledge between the two cultures is often successful. However, there’s an increasing demand

for more platforms that facilitate this exchange more effectively, which is why we are providing this course. Being a versatile concept, business culture affects everything from production to accounting. Therefore, each course is divided into shorter sessions touching upon different areas in business”, she explained. Tania is a co-founder and partner of TandonHildebrand that provide legal and business strategy advice and has a particular interest in cross-border issues and cultures in business. Her aim is for participants to gain an understanding of cultural differences that transcend the business environment, so that their communication, participation and negotiation is more effective. “For the past five years, I have been very active in the Swedish business community in the UK”, she stated. “During that time, I have learned a lot about the cultural nuances that affect people and the businesses they are in. As a course director, I will be able to draw from those experiences and understand where the focus needs

to be”. Vinberg Hearn added: “By exploring what’s different between British and Swedish leadership styles, participants will increase their own awareness, and therefore ability, to fast-forward their success at work in the new culture. Whether you are a leader or not, this course will give you insights and practical tips to apply back at work in how you engage with and influence others, which is at the core of great leadership. Overall, this course is also a great opportunity for networking with other people in a similar situation, with a chance to build a strong support network going forward”. The pilot courses take place on 7 and 8 March in London. For more information, please see www.scc.org.uk or contact events@scc.org.uk.

“When we start working in a different business culture, we need to ‘reset’ our understanding of what is expected of us” - Elisabet Vinberg Hearn

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Impetus on building stronger partnerships between the North East and Sweden Chapter Chairwoman Caroline Theobald CBE on Brexit and opportunities in the North East BREXIT. The word no-one really wants to use as I write this. ‘A shambles, wherever you stand’ in the words of a couple of prominent Swedish businesses and very importantly in this region a disaster if the UK was to crash out of Europe without a deal. The economic consequences of a ‘no deal Brexit’ in the North East would be profound, widespread and lasting. The job of business is to do business. We need to move beyond the distractions and obsessions of Brexit and begin healing the divisions that have separated communities and left investors questioning the UK in general and the North East in particular as a business destination. Against this backdrop, Anglo-Swedish business friendships really count. Over the last ten years relationships have been nurtured between the North East and (particularly) Region Västra Götaland’s business and cultural communities. The Brexit turmoil has given added impetus and urgency to plans for the establishment of a mutually beneficial trading corridor across the North Sea together with a healing investment

in gardens and tourism. Plans are now taking shape at pace for a trade and investment partnership centred on PROTO, the regional centre for immersive technologies in Newcastle/ Gateshead and a West Sweden Garden to mirror the English Garden, which is now a permanent fixture at Jonsered Manor in Gothenburg. Sankta Lucia brings light into the darkness at Christmas. The North East has been welcoming a Swedish Choir to sing in our schools, businesses and Hexham Abbey for the past two years. This year we also asked the choir, sponsored by Region Västra Götaland, to launch our plans for a Swedish Garden to celebrate Anglo-Swedish community and business friendship in the Brexit darkness. And it did just that. As one Swedish resident has just commented: ‘Sankta Lucia was the highlight of 2018, I’m so grateful you brought it to us’. People do business with people and whatever happens ultimately with Brexit the people of the North East want to continue their friendship with Sweden and North East businesses want to

Caroline Theobald, CBE

continue working with their Swedish peers. WORDS: CAROLINE THEOBALD The Northeastern Chapter of the SCC is located in Newcastle and opened in 2010. The Chapter is one of four alongside the Midlands, Northern and Humber Chapters. Caroline Theobald, CBE, Managing Director at Bridge Club Ltd was appointed the Chapter’s Chairwoman in 2010.

Brexit Q&A for Nordic citizens The Nordic Embassies in the UK (Embassies of Denmark, Iceland, Norway and Sweden) gathered in Edinburgh on 31 January for a public information meeting about the implications of Brexit for Nordic Citizens living in the UK. Attendees had the opportunity to speak with representatives from the British Government first hand, ask questions and voice their thoughts. The Embassies are also hosting a similar event in London on 11 February at the Swedish Church. For more information about this event, visit www.swedenabroad.com/london. Edinburgh

The LINK ON BREXIT

Immigration Post-Brexit: Jonathan Kingham on the Government’s Immigration White Paper Just before Christmas 2018, the UK government published some longawaited details about its post-Brexit immigration plans. In welcome news, a ‘no-deal notice’ broadly confirmed that it would enact the ‘settled status’ scheme for EU citizens and their family members already resident in the UK, even in a no-deal situation. Separately, its Immigration White Paper set out proposals for the immigration system that would apply to EU nationals (and others) arriving after the post-Brexit transition period. If the government does survive, and the Withdrawal Agreement is finally passed, the White Paper provides a good indication of what the future may hold. As expected, the general theme is that visa requirements will be the same for EU and other non-British citizens. However, there may be some specific mobility provisions agreed between the EU and UK as part of the future relationship deal, and other more generous arrangements may also be agreed with ‘other low-risk countries’ in the context of trade agreements. On work visas, there would be some significant relaxations to the current highly restrictive regime. These include: • no more numerical caps on skilled workers

• no resident labour market test for new hires • a review and reduction of the current administrative burdens on sponsoring employers, with the aim to process most work visas within two to three weeks • reducing the skill level for new hire skilled workers (but not intra-company transferees) from graduate level to ‘A’ level or equivalent • consulting with businesses as to the exact minimum salary level that would apply, starting with a figure of £30,000 per annum To reduce the immediate shock to employers who currently rely on ‘lowskilled’ EU workers, there would be a transitional (and time-limited) 12-month maximum visa available for short-term workers of any skill level, to be followed by a 12-month ‘cooling-off’ period during which they cannot return to work in this capacity. This would only be open to nationals of certain countries, e.g ‘lowrisk’ countries - very likely to include EU Member States. The proposals on self-employment are more limited, largely relying on Investors, Innovators and persons of ‘Exceptional Talent’. These routes would generally

Jonathan Kingham

be for people with significant financial resources, business backing, or high-level skills, and there seems to be little for the ambitious entrepreneur who does not meet such stringent criteria. However, this may change following consultation, and there is certainly a strong focus on attracting innovation, in particular in the field of digital technology. WORDS: JONATHAN KINGHAM Jonathan Kingham works as a solicitior at SCC Member North Star Law. North Star Law is a Kensington-based law firm which provides intelligent, dynamic solutions to its clients’ legal problems.

The SCC Offers a Forum to Discuss Brexit The SCC provides a number of services aimed at helping both businesses and individuals to prepare for Brexit. On the SCC website you can find a Brexit portal which is continuously updated with links to public information and relevant white papers from the British and Swedish Government, the European Commission, and other institutions. Bi-monthly, the SCC hosts exclusive ‘Brexit Updates’

together with the Embassy of Sweden and Business Sweden. During these briefings, attendees receive information about the status, process and interpretation of Brexit. Attendees are able to exchange experiences and thoughts about the future. Keep an eye out for more information about the upcoming Brexit Updates on our website www.scc.org.uk.

THE SOCIETY OF SWEDISH ENGINEERS IN GREAT BRITAIN

SvenskaTHEIngenjörs SOCIETY OF Sällskapet i SWEDISH Storbritannien ENGINEERS IN GREAT BRITAIN utlyser stipendium till en svensk ingenjör för studier i Storbritannien Svenska Ingenjörs Sällskapet i Storbritannien (SIS) erbjuder ett stipendium till en ung, motiverad och driven svensk ingenjör, som planerar eller redan studerar i Storbritannien på en doktorand eller på magisternivå (PhD eller Masters). SIS bildades 1924 för svenska ingenjörer aktiva i Storbritannien. SIS har sedan bildandet delat ut stipendium för att möjliggöra studier och forskning för svenska ingenjörer på brittiska instutioner, inom alla ingenjörsområden inklusive kemi, el, mekanik, arkitektur, data, geologi, medicin och miljöteknik. Stipendiet SIS stipendium för 2019 är på £5000 (fem tusen pund). Ansökan Din ansökan skickas till Per Olof Emanuelsson på chairman@swedishengineers.org.uk, och skall vara SIS tillhanda senast 17 april 2019. Ansökan skall inkludera CV, namn på det Universitet / Institution i Storbritannien där sökanden studerar eller kommer att studera vid samt ett personligt brev om hur stipendiet skall nyttjas. www.swedishengineers.org.uk

The LINK HELLO MEMBER

Cool Company HELLO MEMBER BY: LINNÉA LINDGREN

Cool Company is undoubtably a company name that you won’t forget in the first place. The company was founded in 2009 and expanded to the UK at the end of 2017. But what does Cool Company do? The LINK spoke with Jakob Sandström, Country Manager, about the need for flexible talent, the millennial generation and how Cool Company helps simplifying the interaction between businesses and freelancers. What does Cool Company do? Cool Company exists for the single reason of simplifying the interaction between businesses and freelancers. We do this in two ways. Firstly, we help freelancers work and invoice without having to start their own company. So, if you have a hobby or an entrepreneurial idea, Cool Company can let you commercialise instantly without having to think about business administration. Secondly, we help businesses easily engage with any freelancer in their network by helping them with on-boarding, project management and payment.

perhaps, these two aspects are enabled the tea drinking? There are many by the development of technologies like differences. Sweden is very forwardCool Company’s. thinking in some ways whilst the UK is ahead of the curve in others; the pulse Tell us about the journey of Cool and tempo of Stockholm vs. London is Company from being founded to quite striking actually. where it is today? The journey was in the beginning “Culturally, the completely focused on the freelancer service but has pivoted to now also millennial generation is include a full range of services for drawn towards flexible businesses working with freelancers. Of working for several course, the high interest from investors has sparked a lot of technical innovation companies at the same and more recently an international time” outlook which brings us up to date (and me into the picture). Any challenges? Like any company entering a new market, applying an existing product can be challenging. But I’d like to think that coming from Sweden with a different perspective gives us a competitive advantage within the UK market.

How was the idea of Cool Company born? The idea was fuelled from a macroeconomic trend and from red-tape in the private sector. Back in Sweden in 2009, it was not easy to set up as a freelancer, but there was a high demand from businesses for flexible talent, and a lot of people with cool ideas – what Jakob Sandström, Cool Company was lacking was a way of letting them interact in a simple (cool) way. What is your personal background? I moved over to study in the UK in 2012 Why is your solution so relevant and subsequently started my career at a today? recruitment agency in the strategy and Because of macroeconomics, culture management consulting space. There and technology. Companies demand I gained first-hand experience in the specialised talent when they need it power of flexible working and came in and more of it during busy times, miles contact with Cool Company which was a away from the traditional permanent no-brainer concept. employment structure. Culturally, the millennial generation is drawn towards What differences do you see between flexible working for several companies the Swedish and UK markets? at the same time. Most importantly Apart from the over politeness and

What are your future goals? For Cool Company UK, we want to be the obvious one-stop-shop for businesses and freelancers to simplify the way they interact. My personal ambition is to practise as we preach and to build a team that can work flexibly from wherever they are in the country and reach our goal. What is the best part of your job? The collaborative environment means a lot to me. Cool Company consists of a lot of different individuals with a wide range of specialist talent, but all working towards the same goal. Also, of course, it’s rewarding to see when a freelancer goes from idea to entrepreneur or a business being able to use more flexible staff thanks to Cool Company.

The LINK FEATURE

GREENWICH MARKING A BOLD STEP-CHANGE FOR IKEA IN CITY CENTRES

community can meet and connect.

Greenwich will be the first full-sized WORDS: MATT MAGUIRE IKEA store to open PUBLIC AFFAIRS MANAGER, IKEA UK AND IRELAND in London in 14 years and will be the 22nd large store to open in the UK. Last year IKEA opened stores in Sheffield and Exeter.

75 years ago, SCC Member and Patron IKEA was established as a small, mailorder business in southern Sweden by Ingvar Kamprad. Since then, IKEA has grown into the world’s largest home furnishing retailer, defining and redefining the home furnishings market, including during its 30 years trading in the UK.

Retail and the way people live is transforming and cities like London present IKEA with lots of new opportunities. IKEA’s response is to create a new world of IKEA in city centres, making IKEA even more accessible, including to people who often have less time to visit our stores. In the UK, this approach will see us trial and test a number of new IKEA formats in city centre locations, beginning in London. Last October we opened the first of these, the IKEA Planning Studio on Tottenham Court Road. A second outlet, in Bromley is scheduled to open in spring 2019. Both units offer a personalised service with a focus on bedrooms and kitchens.

When it opens its doors on 7 February, Greenwich will be IKEA UK’s leading sustainable store, having been designed and built to the highest achievable sustainability rating and incorporating a range of technologies, such as solar power, LED lighting, rainwater harvesting, IKEA also recognises that responsible and maximising renewable electricity. companies are becoming the first choice for many consumers, ensuring that There will also be a range of spaces and people live within the limits of one planet. features to help Londoners live a healthier Sustainability sits at the heart of IKEA’s and more sustainable lifestyle, as well as business and through the sustainability creating a new hub, including the roof- strategy, IKEA is committed to having a top garden and pavilion, where the local positive impact on people and the planet.

IKEA UK’s first Learning Lab will be a dedicated space where customers and IKEA can develop the skills to upcycle, repair, repurpose and personalise their products, prolonging their life and supporting the move to a circular economy. 500 co-workers will work in the Greenwich store, all paid the London Living Wage and providing great customer experience and home furnishing experience. IKEA is a values-driven organisation, with a culture rooted in its Swedish heritage. The employees are the embodiment of these values and are eager to meet and interact with the local community when the store opens. Greenwich will be a radical step-change for IKEA, creating a place where people can meet, share, learn and shop, while reflecting our bold commitments to help safeguard the world we all share. This in turn aims to ensure that IKEA lives up to their business promise - to create a better everyday life for the many people.

The LINK FEATURE

HOME GROWN: THE MEMBERS’ CLUB FOR ENTREPRENEURS WORDS: LINNÉA LINDGREN

be located on Great Cumberland Place. The facilities will among others include 35 boutique bedrooms, a brasseriestyle restaurant, study café, several bars, business lounges, meeting rooms as well as hi-tech event spaces.

Home Grown, opening spring 2019 in Marylebone, is a new members’ club inviting high growth entrepreneurs, investors, industry leaders and business innovators to join its selective community. It will be a space for like-minded people to network, entertain and grow. The LINK spoke to Claire Ashman, Sales and Marketing Director at Home Grown, about the club and its plans for the future.

Ashman told the LINK: “The idea for Home Grown was born a couple of years ago in the mind of our Managing Director Andrew Richardson who saw a gap in the market somewhere between a social members’ club and a traditional business club. Home Grown is the answer to that. It takes the fun, eccentric DNA of Home House and pulls it through to a club that has a focus on business growth. The two don’t have to be mutually exclusive and what we are looking to create is a really great place to meet and connect with a back bone of events that inspire.”

Home Grown’s sister club Home House opened 20 years ago by changing the DNA of the capital’s members’ club scene. Now Home Grown is set to similarly break new ground by blending the values of a luxury club with a strong business aesthetic, great networking opportunities and a plethora of events to enable entrepreneurs to grow their business. With four Grade II-listed five storey Georgian townhouses, designed by Russell Sage Studio, the club will

At the heart of the membership package is an events programme that has been carefully produced to please applicants spanning from all sectors and industries. It does not matter if you are in beauty, banking or fashion - the events programme aims to offer something for everyone. Ashman said: “Our events programme is at the heart of the brand so we are really excited about bringing this to life. Our Rock Star Series is going to be great. We will be inviting household

names and Founders to talk about their lives and journeys and be interviewed by other entrepreneurs. Should make for some great conversation.” In addition to the Rock Star Series, the events programme will also offer a ‘How to…’ series and invite only ‘entrepreneurmeet-investor’ dinners to only mention a few. Yet, the perks of the membership will not stop there. By recognising the desire for sessions focused on wellness, and social engagement, the club will also offer activities like sound meditation and yoga brunches. “We are currently accepting applications for Founder members, a cohort of members who will shape Home Grown’s ethos and lay the foundation for their community. For anyone interested, do get in touch”, said Ashman.

The LINK PREVIOUS EVENTS

MEET THE SWEDISH PRESS 30 OCTOBER On Tuesday 30 October, the SCC hosted a ‘Meet the Swedish Press’ event at the Royal Oak pub in Marylebone. It was an informal evening with correspondents from Sveriges Radio, Svenska Dagbladet, Sveriges Television and Dagens industri. The correspondents introduced themselves and their focus areas which was followed by a panel discussion.

Claes Aronsson (Sveriges Radio), Claes Andreasson (Bridge View Dental Surgery) & Helen Rennie-Smith (Rennie-Smith Communications)

Åsa Hillsten (Catena Media) & Gunilla Assmundson (Gunilla Assmundson Dental Practice)

Jonas Sverin (Sveriges Television) & Claes Aronsson (Sveriges Radio)

Jonas Sverin (Sveriges Television), Claes Aronsson (Sveriges Radio), Linnéa Woolfson & Julian Henwood (Gowling WLG) Karin Olander (Dagens industri) & Charlotte Buxton (Svenska Dagbladet)

The LINK PREVIOUS EVENTS

LINK UP DRINKS WITH OLD MUTUAL INTERNATIONAL 7 NOVEMBER On 7 November, the SCC together with Aster Nordic Restaurant welcomed Members to the season’s last Link Up Drinks before the holidays. New Members Adwaiz, Crona & Co and Nordaq FRESH UK presented their companies to the network. The event was kindly sponsored by Old Mutual International.

Peter Field, Andreas Hjerth & David Matthews (Old Mutual International)

Alex Haddon (IC Design), Susanna Eriksson & Camilla Berglund (Nordic Entertainment Group UK Ltd)

Nordaq FRESH UK presenting

Per-Olov Bergström (Rothschild), Sabrina Johnson (Drivy) & David Matthews (Old Mutual International)

James Gilley & Leonardo Lucatorto (Adwaiz)

The LINK PREVIOUS EVENTS

URBANISATION FORUM: CONNECTIVITY 15 NOVEMBER On 15 November, the SCC hosted an Urbanisation Forum. The theme of the year was ‘Connectivity’ and the Forum was hosted at Google HQ in King’s Cross. Participants could listen to and engage with a diverse group of experts representing many different industries. The speakers of the evening: • Simon Dixon, Global Transportation Leader at Deloitte • Jon Simpson, Smart Building Technical Lead at Google • Max Ryerson, CEO & Chief Digital Strategist at StratForce • Geoffrey Palmer, Director of Buildings at Sweco • Iain Macbeth, Head of Foresight at Transport for London • Linda Thiel, Director London Studio at White Arkitekter

Peter Sandberg (Swedish Chamber of Commerce for the UK)

Additional panellists: • Araceli Camargo, Director of Lab at Centric Lab • Stephen Lorimer, Smart London Strategy at Greater London Authority • Victoria Hills, Chief Executive at Royal Town Planning Institute The event was moderated by Rob Whitehead, Director of Knowledge and Communications at the Future Cities Catapult. Rob introduced all speakers, guided the audience through the different angles of the presentations as well as led the panel discussions. During the evening several angles of the main topic of ‘Connectivity’ were touched upon. Simon Dixon shared Deloitte’s City Mobility Index and explained why it is of great importance for modern cities to be well-connected. Jon Simpson from Google talked about the importance of digital standards for connected infrastructure. Max Ryerson from StratForce focused on the human-centred urban experiences through data and digital connectivity. Sweco’s representative Geoffrey Palmer discussed connected energy systems and links to emerging transport services, as well as how building of the future could be better connected. Iain Macbeth from Transport for London (TfL) shed light on future forms of connected (mobility) services and shared TfL’s view on the future potential of air mobility in London. Linda Thiel shared her and White Arkitekter’s knowledge and experience on the technical requirements for future built environments.

Linda Thiel (White Arkitekter)

After the presentations, the audience was invited to pose questions to the keynote speakers. The Forum was wrapped up by a panel discussion where representatives from Greater London Authority, Centric Lab and Royal Town Planning Institute reflected upon the topic of ‘Connectivity’, commenting on the previous keynote presentations. The event welcomed over 160 delegates representing Member companies, public bodies and organisations and other businesses from the industry. Thanks to Google for kindly hosting this unique experience and a big thanks to our sponsors Gecko Technology Partners and White Arkitekter.

Live drawings on Jamboard provided by Gecko Technology Partners

The LINK PREVIOUS EVENTS

Jon Simpson (Google)

Linda Thiel (White Arkitekter), Iain Macbeth (Transport for London) & Max Ryerson (StratForce)

Stephen Lorimer (Greater London Authority), Victoria Hills (Royal Town Planning Institute) & Rob Whitehead (moderator)

Panel discussion with keynotes

Heyu Huang (Fresco Capital) & Araceli Camargo (Centric Lab)

David Waterhouse, Lucy Seymour Bowdery (Ministry of Housing, Communities & Local Government) & Janet Sutherland (Academy of Urbanism)

The LINK PREVIOUS EVENTS

ANNUAL CHRISTMAS LUNCHEON 2018 7 DECEMBER On 7 December 2018 the Chamber’s Annual Christmas Luncheon took place. The Luncheon has a long history dating back a century, and this year it brought together over 500 business professionals from across the Anglo-Swedish community. The Luncheon included a traditional Swedish ‘julbord’, first-class entertainment and fantastic networking opportunities. The Luncheon was followed by an after party with live music at the Landmark Hotel. Thank you to our sponsors Alpcot Capital Management.

Jan Olsson (Deutsche Bank), Elisabeth Wikström (H&M) & Peter Wikström (Rothschild & Co)

Ulrika Liljeström Westin, Christina Liljeström (British-Swedish Chamber of Commerce) & Henrik Dahl

Håkan Winberg, former SCC Council Member

Helena Vazquez Sohlström & Rajesh Agrawal (Deputy Mayor of London)

Christoffer Kurpatow (Skultuna) & David Zaudy (Celeda Capital Ltd)

The LINK PREVIOUS EVENTS

Jan Olsson (Deutsche Bank) & Dr Anders Wall

Count Bertil Bernadotte & Bicky Chakraborty (Elite Hotels)

The event sponsor Alpcot Capital Management Ltd

The Very Revd Eric Muhl (The Swedish Church) & Robert Hermans (Gunnebo Entrance Control Ltd)

Peter Sandberg (Swedish Chamber of Commerce for the UK)

Rajesh Agrawal (Deputy Mayor of London)

The LINK PREVIOUS EVENTS

500+ guests

Erik Olsson, Magnus Lewis-Olsson & Jenny Gardner (Saab)

NorrsĂĽng Choir performing the traditonal Lucia procession

Jan Olsson (Deutsche Bank), Rt Hon George Hollingberry (MP) & Bicky Chakraborty (Elite Hotels)

Gabriella Denlew (Norton Rose Fulbright), Pontus Denlew (Nomura), Jim McPartlin & Sofia Radomska (Oriflame Cosmetics UK ltd)

The LINK PREVIOUS EVENTS

Suzanne Bolinder (Consido), Sofia Andersson (SEB) & Mimmi Smart (Consido)

The SCC team performing the traditional Pomp & Circumstance

Hans Otterling (Northzone) & Adine Grate (Sky)

Jan Olsson (Deutsche Bank), Bert Nordberg (Vestas) & Dr Anders Wall

Andrew Rowlands, Joe Croney & Ian Roberts (Handelsbanken)

The TandonHildebrand team & Niklas Nordstrรถm (Business Sweden, Mayor of Umeรฅ)

The LINK UPCOMING EVENTS

Upcoming Events Link Up Drinks with Gowling WLG The first Link Up Drinks of the season. Hosted by Gowling WLG at their offices, this event promises excellent networking opportunities and delicious interactive elements, all with beautiful views over London and the Thames.

13 FEBRUARY SCC Member Price: Free Non-Member Price: £30

Business Breakfast feat. Mark Prisk MP Join this breakfast featuring Mark Prisk MP to get a view from Westminster on trade with Sweden, current events in the UK Parliament, as well as to seize the opportunity to pose questions.

26 FEBRUARY SCC Member Price: £25 Non-Member Price: £50

Business Breakfast feat. Iain Macbeth This breakfast is a great opportunity to learn more about the future of mobility and infrastructure. The breakfast features Iain Macbeth, Head of Foresight at Transport for London, who leads TfL’s activity on the development of Urban Air Mobility.

20 MARCH SCC Member Price: £25 Non-Member Price: £50

Business Breakfast feat. Patrick Smith This breakfast will focus on discussing how to engage, influence and inspire on social media via the clever use of influencer marketing and awesome content. The guest speaker will be Patrick Smith, CEO of Adwaiz, a social media and influencer marketing agency.

27 MARCH SCC Member Price: £25 Non-Member Price: £50

Keep an eye on our website for more information on upcoming events. If you are interested in hosting or sponsoring one of our events, get in touch with events@scc.org.uk to find out more.

The LINK IN OTHER NEWS

In Other News Snoop Dogg invests in Klarna

Rhenman & Partners Asset Management

On 17 January, famed artist Snoop Dogg became a minority shareholder in SCC Member and Patron Klarna. As part of the deal, Dogg has become the face of the company’s new marketing campaign “Get Smoooth” and will legally change his name to Smoooth Dog, as well as reveal a range of new items together with Klarna. David Sandström, Chief Marketing Officer at Klarna, says to Campaign: ‘’Banks are seen as stiff and we’re trying to change that with Snoop Dogg’’. When asked why they chose Snoop Dogg for the campaign, CEO Sebastian Siemiatkowski said to Forbes: “So we were wondering who is the smoothest person alive, that was really the background of how the name Snoop Dogg popped up in our heads”.

listed as one of Europe’s top hedge funds in Financial Times In July 2018, one of SCC Member Rhenman & Partners Asset Management’s hedge funds were listed in Financial Times as one of the top hedge funds in Europe. The hedge fund Rhenman Healthcare Equity Long Short Fund, launched in 2009, specialises in healthcare and invests in pharmaceuticals, biotech and medical companies. Rhenman Healthcare Equity Long Short Fund IC2 SEK has been the strongest performer returning a net 27.12 per cent on a five-year annualised basis according to the Financial Times (2018). At the end of June 2018, the fund had assets worth €636m.

The forces shaping our workplaces SCC Member and Patron Kinnarps gathered a selection of the public sector’s leading influencers and decision-makers and quizzed them on the forces shaping their workplaces. Why do workplaces ward away bright young talent? Why is siloed thinking particularly prevalent in the sector? Why is the sector so averse to risk-taking? The result was an insight-driven White Paper that lifts the lid on the external and internal challenges that the sector faces - and the need for workplace designers to keep these in mind. The insights in the paper are both revealing and compelling. Read what the experts have to say in Kinnarp’s White Paper which can be found on www.kinnarps.co.uk. Snoop Dogg & Sebastian Siemiatkowski (Klarna)

EU-funded project to strengthen Northern Sweden as leading Space Region Luleå University of Technology has recently approved more funding for the project ‘RIT: Space for Innovation and Growth’. Aimed at strengthening Northern Sweden as the country’s leading space region, the project will create an attractive and productive environment that produces long-term growth and attracts investments, people and companies. RIT will focus on collaboration between academia and industry. Thanks to its geographical location and established systems within education, research and infrastructure, the region is ideal for the space industry. An increased amount of PhD projects will ensure the exchange of knowledge between the two industries, not least in the field of innovation. In collaboration with the Swedish Institute of Space Physics, IRF, the university will also build a test bed - a platform for advanced aeronautical testing of new systems and components on satellites sent into space.

Parts of the project management for RIT2021 led by Luleå University of Technology

The LINK YOUNG PROFESSIONALS

Dear YP, It is the beginning of a new year and there are exciting times ahead for the YP. The Young Professionals, or the Junior Chamber of Commerce as it was called back in the day, turns a quarter of a century this year. So, stay tuned for the big 25th birthday party later this spring. First and foremost, the spring season kicked off with our welcoming drinks event hosted at Albert’s at Beaufort House on 31 January where both loyal YP’s gathered together with new members and friends. If you are interested in gaining new insights and to network with a wide range of organisations, then have a look at our upcoming events. First, we will learn all about social media and influencer marketing as well as personal branding, with the creative firm Adwaiz. In March, we will visit the new offices of Swedish online gambling group Kindred to gain an understanding of this massive industry. Later that month we will take a look at the differences in Swedish and British business law, with law firm LOGOS. Besides the events calendar, we are very excited for the 2019 Mentorship Programme to start. We were overwhelmed by the fantastic response in applications last year. It was a tough choice, but we now have 13 fantastic Mentor and Mentee pairs who are ready to discuss career and personal growth. All the best, Nathalie, André & Linnéa

YP UPCOMING EVENTS SPRING 2019

Social Media Workshop

20 FEB 2019

MAR 2019

Join us for a workshop together with Adwaiz, the true digital storytellers. Learn about how to engage, influence and inspire on social media.

Join us for a company visit at Kindred, one of the largest online gambling companies in the world.

Company Insights

YP 25

20 MAR 2019

Join us for company insights at LOGOS, the oldest law firm in Iceland, established in 1907. We will gain insights into the differences between Swedish and British law as well as how to set up a business in the UK.

Company Visit at Kindred

MAY 2019

The YP is turning 25 years in 2019 and this is of course something that we have to celebrate. Stay tuned for more information.

The LINK YOUNG PROFESSIONALS

Company Visit at Bloomberg

10 OCT

We were invited to the workplace of one of our YP members, at Bloombergâ&#x20AC;&#x2122;s European HQ, where we networked, listened to presentations and enjoyed a guided tour. Thanks to Bloomberg for hosting us and to everyone who joined us for this company visit.

Annual Christmas Dinner

24 NOV

This yearâ&#x20AC;&#x2122;s Christmas Dinner was hosted at Borealis. It was a typical Swedish festivity including amazing Christmas food, drinks, snaps, traditional songs and an exclusive raffle. Thanks to our main sponsors Danske Bank International S.A. and Lombard International Assurance S.A. for making this event possible. Additionally, thanks to our vodka sponsor Absolut, as well as to all of our raffle donors. Finally, thanks to all 70 attendees for making this evening magical.

More photos available on our Facebook page: Young Professionals of the Swedish Chamber Young Professionals of the Swedish Chamber

ypscc

Young Professionals of the SCC

The LINK NEW MEMBERS AND PATRONS

New Members The Swedish Chamber of Commerce has an active network of 400 companies representing some 50 different sectors. These range from industries such as media, marketing, relocation, to banking, financial services and manufacturing industries to name but a few. The variation in size and sectors enables the network to remain dynamic and vibrant. We would like to welcome our newest Members and Patrons.

Featured new Member North Star Law North Star Law is a Kensington-based law firm which provides intelligent, dynamic solutions to its clientsâ&#x20AC;&#x2122; legal problems. We act for a broad range of international clients including large corporates, SMEs, entrepreneurs, tech professionals and high net worth private clients in the areas of private client law, immigration, commercial and residential property/developments, family and commercial litigation. We have extensive experience in advising EU nationals and their family members on dealing with the possible implications of Brexit, including as regards their residence and tax positions, and help clients move to the UK, while they are in the UK and with their departure from the UK. Niche expertise includes Tier 1 (Exceptional Talent) visa applications in the digital technology (Tech Nation) category. +44 (0)203 355 9616 Jonathan Kingham Solicitor

+44 (0)203 355 9616 jonathan.kingham@northstarlaw.co.uk

Law www.northstarlaw.co.uk

New Members

BKL

Chartered accountants and tax advisers with offices in London and Cambridge.

Casall

Casall is a dynamic, innovative, trendsetting Swedish training brand with premium quality and smart designs for both wear and tools.

Chilworth Manor Vineyard

An English/Swedish family-owned vineyard producing English wine (Rose and Sparkling wine) made in the Surrey Hills.

Essity UK Limited

Essity develops, produces and sells products and solutions within the business areas personal care, consumer tissue and professional hygiene.

Jurek Rekrytering & Bemanning AB

Jurek is a market leader in recruitment and staffing in law, finance, marketing and HR.

The LINK NEW MEMBERS & PATRONS

KGH Customs Services UK Ltd

KGH is a leading European provider of customs and trade solutions.

NFT Ventures

NFT Ventures invests primarily in fintech with an aim to capture the opportunity in transformation of banking and financial services.

Oury Clark

Oury Clark is an accountancy and law firm offering a range of financial and legal services to both businesses and individuals.

Redgert Comms AB

Redgert Comms AB is a PR and communications agency.

Rowan Tree Capital

Transforming corporate narratives. Professionalising investor relations.

Telavox Ltd

Telavox is Scandinaviaâ&#x20AC;&#x2122;s most successful cloud-based VoIP telephone provider.

New Patrons

EF Education First is an international education company

Klarna UK Ltd is a Sweden-based e-commerce company

offering study abroad, language learning, cultural exchange

that provides payment services for online storefronts.

and academic programmes around the world.

King is a leading interactive entertainment company for the

Tetra Pak Ltd is a full system supplier for processing

mobile world.

packaging and distribution of food.

Svenska kyrkan

- en oas i London café

mötesplatser & kyrka

När du är i London, kom in och ta en fika!

sociala medier

Svenskt kaffe & hembakta kanelbullar, svenska dags- och veckotidningar. Här finns alltid någon att prata med! Fritt WiFi & gästdatorer med skrivare. Anslagstavlor med tips på boende, jobb och vad som händer.

öppettider kyrka & café Måndag - tisdag 10-17 Onsdag 10-19 Torsdag - lördag 10-17 Söndag 12-15 Gudstjänst varje söndag kl 11 Söndagsskola & kyrkkaffe

Ung i London, Öppet hus/Stay & play, Syjunta, soppluncher, lunchkonserter, Seniorträffar, föredrag, utställningar. Alla-kan-sjunga-kör, barnkör, kyrkokör, seniorkör. Gudstjänster, dop, vigslar och konfirmandundervisning.

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Introducing Jonas Eklund

The LINK EVENT TO LOOK OUT FOR

The new Marketing and Communications Manager of the Swedish Chamber of Commerce for the UK Welcome to the Chamber. Can you tell us a little bit about yourself? Thank you. I was born and raised in Mariestad, a small town in Västra Götaland. I have moved around a lot, trying out Gothenburg, Stockholm and even Helsinki, before ending up in Malmö which was my latest home town in Sweden. Now I’m thrilled with the opportunity to join the Chamber in London and meet new challenges. What is your background? Throughout my career I have worked with marketing and communications in various positions and in a range of industries. I have worked with B2B marketing in the manufacturing industry as well as marketing subscriptionbased consumer products. My most recent position was at Studentlitteratur, Sweden’s leading educational publisher,

where I was responsible for PR, corporate communications and the company´s digital presence. How did you end up at the Chamber? I wasn’t actively looking for new challenges, but when I found out about the position at the Chamber, I knew it was an opportunity I didn’t want to miss.

What are you looking forward to the most? To learn new things, both through the challenges that the position entails, and by getting acquainted with the SCC Why did you want to work with Members. There is so much experience Marketing and Communications at the and expertise that can be shared in the network, which is something I want to Chamber? The Chamber represents many of the contribute to. industries I have worked in before. It is a modern and thriving network of companies Any message to the SCC Members? that I want to support by developing the I’m really looking forward to working with member offering and services as the the network of Members and to learn more LINK, and by promoting the Chamber to about all of the industries you represent. new Members. This is a great opportunity Don’t hesitate to get in touch with me for for me to make use of my experience and any type of questions or inquiries. to learn new things at the same time. Get in touch: eklund@scc.org.uk

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Jon Wakefield MANAGING DIRECTOR OF VOLVO CAR UK BY: LINNÉA LINDGREN The first Volvo rolled off (in fact Volvo is latin for “I roll”) the production line in Gothenburg in 1927 and since then Volvo has become a global brand with manufacturing in Sweden, Belgium and China. In 2018, Volvo Car UK sold 50,319 new cars by which achieving its highest total in 28 years. The LINK spoke to Jon Wakefield, Managing Director of Volvo Car UK, and talked about the past and the future of the automotive sector, the importance of sustainability and why the UK is a great market for Volvo. Tell us a bit about your journey. I’ve been in the automotive industry for three decades, working in both automotive manufacturer and retail companies including Lex, Porsche, Bentley, MercedesBenz, Daimler Chrysler, Inchcape and the Fiat Group. I’ve been lucky enough to have roles in business development, sales and management, which has been invaluable in giving me the breadth of experience necessary in my current role as Managing Director of Volvo Car UK. I actually spent two years as a Business Development Consultant at Volvo Car UK in the 1990s, so when the opportunity arose to rejoin the company as Sales Director in 2012, it was an easy decision to make. I was appointed Managing Director in August 2016, and in 2018 I oversaw the UK’s most successful sales results for nearly three decades. What’s it like working for a Swedish business? In a word: great. The Swedish culture and ethos is evident in everything that Volvo does, and this filters down to the work that we do here in the UK. Swedes are considerate and thoughtful people, and you really get a sense of this when you work for a Swedish brand. The Swedes also genuinely care about what they do and the impact it has. Not just on the environment and their employees and customers, but everyone that they come into contact with – either directly or indirectly. This

consideration for others is what really sets Swedish businesses apart. How and why has sustainability become a core value for Volvo Cars? Because what we are doing to our planet is the single biggest issue we face today. And if we don’t do everything that we can now, it will be the single biggest issue that our children will face, and their children, and so on. As a company, it is our aim to have climate-neutral global manufacturing operations by 2025. We pledge to also have at least 25% of the plastic in our cars made from recycled materials by 2025 – an unprecedented step for a car manufacturer. Of course, there’s a lot we can do before then, which is why we will have eliminated all single-use plastics from our offices, canteens and events across the globe by the end of 2019. Our immediate- and medium-term focus is electric power - we strongly believe that this offers the best and most viable solution to cutting our impact on the environment. Why is the UK a great market for the Volvo Cars business? For a start we are a mature market. Volvos have been sold in the UK for a long time, so we are an established brand with an established customer base and supply chain. We also have the infrastructure and backup services required to sell our products and our services. Add these things together – along with our fantastic range of new cars and the exciting digital services that help make our customers’ lives easier and more enjoyable – and you have a recipe for success. What are the biggest challenges for Volvo Car UK with Brexit? To be honest, we don’t know what Brexit will mean for us. What we do know is that the uncertainty and corresponding shortage of confidence in the market is

already causing problems, and has the potential to seriously disrupt the entire UK automotive industry. There are also significant trade implications, although none of these challenges are truly insurmountable, and I strongly believe that whatever the outcome, Volvo Car UK will continue to be incredibly successful. What can we expect from the sector in the future? The two biggest developments will be electrification and autonomous drive. Our cars will become increasingly powered by electricity in future, and they will also be able to transport you in comfort and safety to your destination, while you have the time to do something more productive and enjoyable. The ways we access our cars will also change. It’s already happening, but in the future, more and more of us will subscribe to a car access service, where we’ll pay to use a car when we need it. Car manufacturers will morph into mobility providers, enabling our customers to get around on their terms, whenever, wherever and however suits them. What are the biggest challenges in your job today? There are many challenges facing the automotive industry at the moment, but this also presents opportunities for success. The continued uncertainty around Brexit and the effect this has on consumer confidence is a huge challenge, although we at Volvo Car UK are well placed to buck the current trend and continue to delivery record-breaking results in 2019 and beyond. What is the best part about your job? Working with such a talented group of people here at Volvo. The enthusiasm, ability and dedication that I see every day is inspiring, and it’s a fantastic feeling to know that we’re all pulling in the same direction, determined to succeed.

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“What we are doing to our planet is the single biggest issue we face today”

February 2019

Articles inside

Preparing for the Big Exit