The Link, September 2021

Reaching Generation Z:: matching values with CSR

finding the perfect match with HR tech

Target Aid on how to reach the new generation through transparency and by staying true to company values.

Adway and Exparang using technology to break new grounds in recruitment matchmaking.

LINK Dedicated to the Swedish-British business community since 1906

”We are trying to take the best of Swedish and UK game development traits and offer something new and interesting to the community.”

Fredrik Rundqvist, CEO of Sharkmob, on the launch of the game company’s new studio in London.

No.357

Managing a workforce in a global pandemic Alfa Laval on facing uncertainty and why communication is key when handling a crisis.

The LINK

ABOUT

The Swedish Chamber of Commerce for the United Kingdom 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.

SCC PATRONS

THE LINK ISSUE 357

FOLLOW US ON SOCIAL

Editors: Jonas Eklund, Mathilda Kennett, Saga Palmér Cover: Fredrik Rundqvist with team, Sharkmob Photo: Joakim Palm Karlsson

LinkedIn: /company/swedish-chamber-of-commercefor-the-uk Twitter: @SwedishChamber Instagram: @sccuk

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

1

LINK

DEAR MEMBER

To open up, or to not open up To open up, or to not open up. That is the question. But what’s the answer? The United Kingdom finally removed all of it’s lockdown measures in July, and with it came questions on how to safely and responsibly secure the return to the office, or work, if you wish. In our conversations with businesses the differing approaches, analysis and practical implications are widely spread on the spectrum.

For some, it’s easier to work from home, and some see it as quite simply imperative for cultural or practical reasons to return. A lot of challenges for businesses ahead, and hopefully we can help foster a dialogue on best practice this autumn.

On the opening up topic, the Swedish Chamber of Commerce hosted its first in-person event in London for the best of what has become 18 months, in August. It was a very special feeling welcoming back people to our Swedish-British Dinner, and to see the atmosphere that in-person engagement can bring. More of this, please. Our activities calendar this autumn will bring about a mix of in-person and digital activities, catering to the different requests and requirements from members.

Beyond the pandemic, Britain’s exit from the European Union somehow still lingers over us, in particular for the financial services industry. Despite this prolonged uncertainty, the SCCs survey of our financial services members show optimism about their future in the City of London. According to our survey, almost 95% of financial services companies with a Swedish connection believe that the City will continue offering significant opportunities in the future, and in fact, a clear majority, 63%, say that Britain’s withdrawal from the EU has not affected their strategies in The City at all. More than half, 56%, say they will be hiring more staff for their UK operations in

2021, while a smaller proportion have postponed their recruitment until 2022.

The positive outlook for Swedish-British business was further reiterated in the annual Global Business Climate Survey, which the SCC conducted together with Business Sweden and the Swedish Embassy in the spring. Of the 1,400 businesses surveyed across Sweden’s 22 most important exporting markets, Swedish businesses in the UK and the US had the highest share reporting that they will increase investments significantly in the market (26%, and in fact 63% say they would increase their investments overall). A comforting and reassuring number as we look ahead and into the post-Brexit relationship and strengthening ties between Sweden and the UK. This autumn, the SCC in partnership with the UK’s Department for International Trade will be launching a campaign in Sweden aimed at Swedish businesses. The campaign makes the continued case for the UK market for Swedish start- and scale-ups and brings together fantastic case studies from medtech company Doctrin, games developer Avalanche and fintech superstar Klarna, to name just a few. It is great to see how successful and ambitious Swedish businesses take on the UK market and find their home here. Many have come before them, and many will follow.

A number of these successful cases will be on display in our calendar or platforms in the autumn. The campaign is suitably called: Sweden, the United Kingdom, and then the World.

partners, and ecosystem players. Later in the autumn four Scanian businesses will be on a similar journey with the SCC, through Southern Swedish Tech Stars, a new initiative in collaboration with Invest in Skåne. Quite frankly, there is no shortage of interest in the UK, and we love welcoming Swedish businesses here.

In this issue of the Link, we take a look at the successful UK-Swedish gaming industries, Swedish game giant Sharkmob, fashion designer Gudrun Sjöden shares her story, and we look at the North Sea traffic links with DFDS Seaways.

In this issue we would like to welcome Aim Public Affairs, HSBC, Nefab and Readly to the patronship. Also we would like to welcome our newest members Candles Scandinavia, Carnegie, DealCloud, EQT, Europartnerships, EY, Johanson, Northern Horizon, NoseOption and Vilokan.

We represent a fantastic membership, and a strong trading partnership. If you haven’t joined us already, I hope you will do so in 2021. We have an exciting agenda for this year and would love to have you part of the journey.

One of those platforms is our accelerator programme, AccessUK, which we roll out together with the Swedish Agency for Economic and Regional Growth. In September, ten exciting Swedish scale-ups join us on site in London to meet with prospective clients,

Peter Sandberg Chief Executive sandberg@scc.org.uk

SCC TEAM EVENTS AND PROGRAMMES

MEMBERSHIP AND COMMUNITY

Finance and Operations

Mathilda Börjesson, Manager Martina Falkenberg, Sten A. Olsson Foundation for Research and Culture Scholar Linnea Engstrand Isabel Glover

Christoffer Waldemarsson, Manager Lovisa Engstrand Thomas Bressler

Peter McNamee, Financial Controller

Business services

Contact us

Anna Crona, Head of department Sara Rolén, Swedish Chamber of Commerce for the UK Scholar David Molin, Elof Hansson Foundation Scholar

Swedish Chamber of Commerce for the UK Sweden House, 5 Upper Montagu Street, London W1H 2AG +44 (0)20 7224 8001, info@scc.org.uk

MARKETING AND COMMUNICATIONS Jonas Eklund, Head of department Saga Palmér, Marketing Executive Mathilda Kennett, Fund for Swedish Youth Abroad Scholar

2

TRAVELERS NEED FLEXIBILITY To help you navigate through these turbulent times, we have now introduced more flexible rebooking options. Book with flexibility, and travel now or later.

Safer than ever. Welcome up whenever you are ready.

CONTENTS THE LINK • ISSUE 357 • SEPTEMBER 2021

Navigating through unchartered waters DFDS on keeping supermarket shelves stocked and essentials supplied in a full-blown lockdown.

Page 15-16

Building a retail empire on a green philosophy

Smart experiences for both merchants and shoppers Fidel API on how to avoid friction and keep customers engaged through hassle-free loyalty programmes.

Designer and entrepreneur Gudrun Sjödén wants the concept of sustainability to be as present in her fabrics as in her fashion.

Page 19

Page 37-38

Greening the financial system

New EU VAT e-commerce rules

Financial services and the technological leap

Michael Sheren, Senior Advisor at the Bank of England, on why the finance industry plays a crucial role in building a new sustainable society.

Rawlinson & Hunter’s VAT Director Sharon Gillies on what you should know about the latest changes and how to approach them.

Fintech businesses Reguity and ALT/AVE bridging the gap between the finance sector and the digital ways of secure information sharing.

PAGEs 11-12

PAGE 20

PAGE 21

IN THE LINK 41 YEARS AGO In March 1980, The Link published an article regarding the upcoming nuclear referendum in Sweden. The article mentioned how in March 1979, the Swedish government presented a bill to Parliament laying down the guidelines for energy policies until 1990.

At the time, oil stood for 70 percent of Sweden’s total energy needs, and it was determined that biofuels could only in a very small degree be used for generating electricity, and that neither wind nor solar energy could be considered as appreciable alternative sources before 1990. 41 years later, the share of renewable energy used in Sweden keeps growing. Already in 2012, the country reached the government’s 2020 target of 50%, and for the power sector, the target is 100% renewable electricity production by 2040.

4

LINK

SWEDISH FOOTPRINT IN THE UK

Swedish businesses making a mark in the UK game industry As we are leaving three lockdowns and countless restrictions behind, it is clear that this new way of living has had a drastic effect on our hobbies and lifestyles. It seems that more people than ever are entering the universe of gaming, not least in Sweden and the UK, both world leading within the games industry. In this feature, we will continue looking at different aspects of the Swedish footprint in the UK, by looking at the opportunities, the key trends influencing the games industry – and the Swedish game companies that are making a mark in the UK. BY: SAGA PALMÉR AND MAHMOUD HAJO

Last year’s restrictions and general anxiousness about going outside, has meant that an increasing number of people are preferring an alternative universe – the digital one. More people than ever are now willing to spend their days in the lockdown-friendly and COVID-safe virtual worlds. In 2020, the UK market for video games broke records when reaching £7bn, increasing +29.9% from the previous year, and it seems like the curve is following the same trend in 2021.

In April 2021, the Swedish Chamber of Commerce and Invest in Skåne brought together representatives for the Swedish and British game industries to share insights and learn from – and about – each other’s markets. The two countries are not only world leading in the field, but also closely linked to each other, making the UK a great market for Swedish game studios looking to expand abroad, and vice versa.

With many new groups finding their way into the world of gaming, the community is no longer as homogenous as it once was. This diversification of users, along with technological progress and societal change, means that both the possibilities and the incentives to drive the industry in new directions are increasing.

UK GAMES INDUSTRY INSIGHTS

 no. 6

 2,300

 50,000

The UK is the sixth-largest video games market in the world

There are more than 2,300 games companies in the UK

The industry creates around 50,000 FTE jobs across the UK

THE INDUSTRY DURING COVID







89%

24%

7bn

The industry kept 89% productivity rate during the first lockdown

5

24% of companies kept hiring throughout the year

The sector reached a record-breaking market valuation of £7bn in consumer spending during 2020

LINK

SWEDISH GAMES COMPANIES IN THE UK

THE UK GAME CLUSTERS

These are some of the most notable Swedish businesses making a mark in the UK games industry.

KING

AVALANCHE STUDIOS

 400

Headquarters and game studio in London

King, a leading interactive entertainment company for the mobile world, has developed more than 200 titles and offers games that are enjoyed all around the world. Franchises including Candy Crush, Farm Heroes, Pet Rescue and Bubble Witch, mass 255 million monthly active users as of Q2 2021 across web, social and mobile platforms. King’s London headquarters and game studio employs more than 400 people.

The company was acquired by Activision Blizzard Inc. in February 2016 and operates as a key part of the Activision Blizzard group.

 25

Headquartered in Stockholm, Sweden, with game studio in Liverpool

Founded in 2003 in Stockholm, Sweden, Avalanche Studios Group is a leading interactive entertainment company, offering a rich portfolio of games from three divisions; Avalanche Studios, Expansive Worlds, and Systemic Reaction.

Since the release of Just Cause in 2006, until its recently announced Contraband, Avalanche has been at the forefront of the open world genre.

The company consists of over 500 creative talents of which 25 are based in Liverpool.

SHARKMOB

 40

King’s offices in London. Photo: King.

MAG INTERACTIVE

 19

Headquartered in Stockholm, Sweden, with game studio in Brighton

MAG Interactive is a leading mobile developer and publisher of casual mobile games, with more than 350 million downloads in total. The company was founded in 2010 and has game studios in Stockholm, where it also is headquartered, and in Brighton with 95 employees in total, of which 19 in Brighton. Game titles include Ruzzle, Word Domination and New Quizduel. MAG is listed on Nasdaq First North Premier Growth Market.

THUNDERFUL GROUP

 100

SWEDISH FOOTPRINT IN THE UK

Headquartered in Gothenburg, Sweden, the group acquired Sunderland game studio Coatsink in 2020

Based in Gothenburg, Sweden, Thunderful Group is a pan-Nordic group that develops and publishes PC, console and mobile games for the global gaming market, as well as distributes games, game consoles, game accessories and toys in the Nordic market. The group has a unique market heritage through the subsidiary Bergsala and its 40-year distribution agreement with Nintendo. In 2020, the group aquired Sunderland game studio Coatsink, making its way to the UK market. The studio with its 100 employees remains independent and continues developing titles such as Shadow Point and Onward.

4

2 3

1

 LONDON Headquartered in Malmö, Sweden, with a new game studio in London

Founded in 2017, Malmö-based game studio Sharkmob has gone from a small start-up to a global studio in warp speed. Backed up by games giant Tencent that acquired the business in 2019, Sharkmob is now building its London studio with 40 employees onboard to date. Its studios are currently working on three new titles, the first one called Bloodhunt, a battleroyale set in the Vampire: The Masquerade universe. Read more about Sharkmob on pages 7-8.

 LEAMINGTON SPA  GUILDFORD  NORTHERN POWERHOUSE,

including Hull, Manchester, Liverpool, Leeds, Sheffield and Newcastle.

THE SWEDISH GAMES INDUSTRY IN NUMBERS



25bn Scene from Sharkmob’s upcoming game Bloodhunt.

Photo: Sharkmob.

AMPLIFIER GAME INVEST

 19

Headquartered in Stockholm, Sweden, the company aquired Newgastle game studio Silent Games in 2020

Stockholm-based Amplifier Game Invest was founded in 2006 and invests in game studios, developers, and their designs to support them in becoming creatively and financially successful by producing great game experiences. In 2020, Amplifier Game Invest acquired Newcastle game studio Silent Games, only two years after it was founded. Backed by its new investors, the studio is planning to hire up to 30 new employees.

The Swedish games industry had a turnover of SEK 25bn in 2019 making the industry the same size as the Swedish paper pulp export

 9,000 Swedish games companies employ more than 9,000 people nationwide and 3,000 people internationally

6

LINK

Swedish footprint in the UK

Bringing Swedish game innovation to the UK Swedish game studio Sharkmob is a start-up success story in its own right. The company has rapidly grown from a small start-up to a team of 300 world-class developers. Operating out of its studios in Malmö and most recently, London, the game developer is combining Swedish innovation and entrepreneurial spirit with the strong tradition of production and game development in the UK. “We are trying to take the best of Swedish and UK game development traits and offer something new and interesting to the community,” says Fredrik Rundqvist, CEO of Sharkmob.

BY: SAGA PALMÉR

Malmö-based game studio and SCC member Sharkmob was founded in 2017, when a group of friends had an idea of how to develop games and what type of games to make. “We had been doing games together for more than a decade prior to this. From early on, we wanted to create so-called triple A games while trying to stay very close to

the community. We wanted to put the fans and the gamers at the centre of what we do,” Fredrik Rundqvist, CEO of Sharkmob recalls.

Think big from the start According to Fredrik, one of Sharkmob’s main strengths is that it was founded by a wellrounded and experienced core team.

“From day one we covered all aspects of running a company and developing games. Our idea was to think big from the start, making sure we did not cut corners on expanding the team. I think that attitude is more important than skill when you recruit new colleagues.”

In 2019, only two and a half years after founding the studio, Sharkmob was acquired by the world’s leading game company Tencent, which opened doors to several new markets.

The games giant being not only an important player in the industry, but also in the wider field of technology, created a shortcut between Sharkmob and players that had previously been out of reach. “Tencent is not only the biggest game company in the world, but also, and more interestingly, one of the biggest technology companies worldwide. They gave us access to resources, know-how and networks in markets that are usually difficult for Western companies to approach.”

“I think that attitude is more important than skill when you recruit new colleagues.”

Setting up in London Combining its solid base with the growth potential Tencent’s acquisition allowed, Sharkmob had everything it needed to enter the international scene. According to Fredrik, setting up the first foreign studio in London was both a natural and strategic decision. “London is a major international hub with access to fantastic talent, industry partners and people from all over the world. This helps us with recruitment, makes it easier to maintain strong ties to key partners, and allows us to test our games in the London User Research Labwe are building, on a globally representative target group. So, we are trying to take the best

7

Fredrik Rundqvist, CEO of Sharkmob, with colleague at the Malmö studio. Photos: Joakim Palm Karlsson.

of Swedish and UK game development traits and offer something new and interesting to the community, both in terms of workplace and new IP creation.”

Growing team Sharkmob London Limited, the fully owned subsidiary of the Swedish mother company, has focused on recruiting the right team to the studio since its establishment in October 2020. “The new core team of our London studio is very important. Similar to our Swedish start-up, having an experienced and well-respected core team in place is really the best way to start any game studio. My job is to make sure they get the resources and support to make their own creative vision come alive.” And after less than a year in London, the subsidiary has grown substantially, and the team is working on both internal and external projects. “The London team is growing steadily. We have about 40 people at the moment, and they are doing great work both with one of the Malmö game projects but also with a project of their own. They are currently nailing down the details of their permanent studio in the heart of London.”

Combining the best of both worlds Highlighting the similarities between the two countries and their history of exchange, Fredrik says that the Scandi-British collaboration is a strong and successful combo.

“Sweden has a long tradition and background of engineering and innovation, not just in the games industry. It has some of the best developers and studios in the world – no doubt about it – and hitting well above its weight in the industry. But more importantly, it has been very successful in creating new franchises and taking them globally. The UK has a strong tradition of production and game development. Combining those aspects is a fantastic opportunity.”

Strong reputation worldwide With success stories such as Minecraft and Candy Crush Saga, Swedish game developers have indeed built a strong reputation worldwide. That Malmö and Skåne, the southernmost region of Sweden, has turned into a cluster for games is a quite natural development and Fredrik can think of several reasons why the region offers such fertile soil for developers, including its high number of academics and proximity to continental Europe. “There is the proximity to Denmark and Copenhagen, which allows easy access to the world through an international airport.

There are universities in Lund and Malmö. The entire region is very tech heavy and has initiatives like Game Habitat and the Nordic Game Conference that help put Skåne on the map, attract companies and cultivate talent.“ Reaching new audiences during the pandemic While the London team continues to get settled, they have to prepare for the post-pandemic shift back to normality. The previous year created a boom in the games industry, with sales hitting record highs and a large group of new people finding its way into the world of gaming. Fredrik thinks that these industry heydays might be coming to an end, but that the upcoming transition won’t necessarily lead to a loss. “I think the surge of screen time people had during COVID lockdowns will not prevail, so naturally less time will be spent on playing games. However, very large groups of people who did not play games at all, or very little, are now part of our global gamer community. Hopefully they will stick around, as well as being more open to new platforms and game experiences in the future.”

“Similar to our Swedish startup, having an experienced and well-respected core team in place is really the best way to start any game studio.”

Transitioning to a fully operational game company The team is currently working on several big projects, both as developers and as a studio.

While staying true to the initial idea of creating AAA games, Fredrik says that the aim now is to expand not only in numbers, but also in terms of areas and operations. “Our first game Bloodhunt is being launched this year, and in the coming five years we will have launched another AAA franchise with several new titles on their way. Since we are also publishing our own games, that side of the business will become much bigger, and the transition from just developing games, to a fully operational game company will be complete. “ And with the studio bringing out the best of two worlds – Scandinavian creativity and UK practice – Sharkmob may very well be influential in taking the London games scene to a whole new level.

8

We know the Nordics by heart.

With more than 160 years of Nordic Private Banking experience, we understand the unique challenges you face as a Nordic national living abroad. That is why we offer financial services tailored to your international needs.

To find out more, please contact Helena Whitmore or Daniel Wikehult +44 (0) 20 7246 4225 privatebanking@seb.co.uk Skandinaviska Enskilda Banken AB (publ) (SEB), London Branch sebgroup.com/privatebanking This communication is made by Skandinaviska Enskilda Banken AB (publ), London Branch for informational purposes only.

Our London Branch is available to introduce you to the SEB Private Banking network outside the United Kingdom. SEB London Branch is authorised and regulated by the Swedish Financial Supervisory Authority. Deemed authorised by the Prudential Regulation Authority.

Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.

SWEDEN UNITED KINGDOM THE WORLD

Why the UK is a natural step in an international expansion With Britain’s exit from the European Union, the trading relationship between Sweden and the UK is changing. The UK Department for International Trade (DIT) and the Swedish Chamber of Commerce for the UK are joining forces to shed light on the opportunities that the UK market will continue to hold for Swedish businesses – beyond Brexit.

Through key sector insights and statistics, mapping of clusters and ecosystems, as well as case studies with Swedish businesses that have successfully established in the country, we are making the case for the UK and how it could be the next step in your business’s international expansion.

Keep an eye out for the magazine with all the insights, or visit www.fromswedentouk.co.uk.

LEARN ABOUT How the UK’s shift to green energy creates opportunities for Swedish businesses Why the UK is the number 1 destination for tech scaleups and startups

SECTORS, CLUSTERS AND ECOSYSTEMS GREEN ENERGY

Tap into the UK health and medtech ecosystems

SMART CITIES FINTECH GAME DEVELOPMENT

Low carbon innovation paving the way for electric vehicles

HEALTH AND MEDTECH ELECTRIC VEHICLES

BUSINESS CASES Lessons learned and tips from Swedish businesses that are making it in the UK KLARNA | SHARKMOB | MINESTO | VOLTA TRUCKS | VATTENFALL | DOCTRIN | + MORE

www.fromswedentouk.co.uk

LINK

IMPACT

Greening the Financial System: The first step towards a sustainable future In recent years, and even more so within recent months, there has been an increased attention towards climate change. Innovators, founders, and CEO’s all over the world are trying to come up with new sustainable solutions to tackle this great challenge of our lifetime – but where do we begin? “You can have a lot of great ideas to fight climate change, but the money to fund it, the real strength, comes within the finance track,” says Michael Sheren, Senior Advisor at the Bank of England.

BY: MATHILDA KENNETT

With the release of the United Nations’ climate report in August 2021, which declared Code Red for human driven global heating, more people are starting to realize the urgency of climate change. With the UK pledging to be net zero carbon by 2050, a profound challenge is set upon every part of society to adapt in order to become more sustainable. By 2025, no new buildings will be heated by gas, and by 2030, it will no longer be possible to buy a vehicle that is not electric – leaving lots of stakeholders in society with new challenges in making more sustainable decisions.

The financial system is the core of a sustainable future Normally, economies develop step by step.

Now, as there is a prompt need for the entire global economy to change, society needs to climb up the ladder a lot more quickly than before. “Whether you’re a small company, an SME, or a large corporation, you need to re-do your plans. Everything you see, whether it’s a car, a bus, or a building, needs to be retrofitted to become more sustainable or be completely substituted. What this actually means for production companies, is that they need to make changes in their production facilities and models and these changes come in the form of capital expenditures to build new sustainable factories,

Michael Sheren, Senior Advisor at the Bank of England.

11

which in turn, is financed by banks. That is what green finance is all about, that is why green finance is so important,” says Michael.

Michael emphasises that banks must play a crucial role in greening the financial system. Sitting in the middle of this huge web of companies and organisations that characterise our society, banks hold the unique opportunity to make real impact by funding the changes in the real economy. “If you are a bank, you must look at who your clients are and start to speak to them about how they can make more sustainable choices. If you are a central bank, you can help by speaking to the banks and insurance companies you regulate and help them to understand the risks in a high carbon economy, and how they in turn can speak to their real economy clients to transition their business models. This is how central banks can start to transform and green the whole financial system.”

Financial community recognises climate change as an important risk About seven years ago, Michael worked with Mark Carney, the former governor of the Bank of England, and many other senior members of the Bank of England, who all started recognising a strong link between financial risk and climate change; they could see how more frequent extreme weather conditions and transitional risks could have a huge effect on the financial sector. “The homes and cars that are getting washed away have mortgages and leases on them. Therefore, when a home or car is damaged due to severe weather, the bank that holds the loans and mortgages on these assets (and the insurance companies that insure them) are also under threat. So, when you think about it, the financial industry and the central banks have a huge amount of vested interest in how real economy assets are affected by climate change,” Michael says.

The Bank of England started several climate initiatives in 2015, both domestically and globally. One of these initiatives was a report on the risks within the insurance industry in relation to climate change. The report gained a lot of attention and was recognised globally. “We received a great amount of interest from the Chinese

Central Bank, as well as from the United Nations and many other groups around the world, and that was a key initiative that really accelerated the Bank of England’s journey in the area of climate risk,” Michael says.

New opportunities in relation to G20 When the Chinese Central Bank reached out in 2016, China was just about to take over the presidency of the G20 conference. “For the first time, they only wanted to add one new item to the agenda, which ended up being called the G20 Green Finance Study Group (GFSG).

The group was placed in the G20 finance track, which is a track consisting of central banks and finance ministers. I had the great privilege to cochair this group together with my counterpart from the People’s Bank of China, Dr. Ma Jun, who was their chief economist. It was just an outstanding opportunity that elevated climate risk within the G20 and gave us a platform to start talking to other central bankers and finance ministers within the G20,” says Michael.

About the same time as the G20 happened, Mark Carney launched the highly impactful Task Force on Climate-Related Financial Disclosures, as Chair of the Financial Stability Board. The Task Force, chaired by Michael Bloomberg, was set up to drive the process for companies to disclose their carbon footprints. From the advancements with the G20 GFSG and the TCFD, the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), was formed. “I would argue, from a small kernel of some work that we did in the Bank of England for our domestic audience around insurance, it all grew very quickly. I’m very proud that the Bank of England recognised this risk early on, and that we helped inspire others in other countries. Now, six to seven years later, you can’t turn on a television or read a paper without understanding or seeing the threats to climate change,” Michael says.

Can a company be both sustainable and profitable?

Even though making profound changes to the way companies run their operations can seem like a huge obstacle, Michael believes it can be the business opportunity of a lifetime.

LINK

Michael Sheren will be discussing the rise of green finance at the SCC’s Impact event on 23 September. Learn more at scc.org.uk/events.

IMPACT

your carbon footprint is – how many tonnes of carbon is burnt a year to make the products or to deliver services. Once that is measured, you follow the guidelines of the Task Force on Climate-Related Financial Disclosures to disclose the measurement. “If you don’t know how much carbon you generate a year you’re shooting in the dark. The four steps are to measure it, disclose it, come up with a business model that is more sustainable, and then execute on that plan. If I was a company right now, I would take those four steps as quickly as possible.”

Technology is crucial in a green future In order to make this profound transition into a new green economy, technological development will play a crucial role. “Technology is what is going to help us, it is what is going to take companies from that carbon intensive, environmentally degradative business model, into a new environmentally smart plan. You see it in every sector, but one major area is agriculture; one example is vertical farms, which are extraordinary. If you power them with either wind or solar technology, you can basically do up to 26 crops a year for some plants, while using 90% less water, and they’re often more nutritious than the ones you would grow outside,” says Michael.

Bank of England in the City of London.

When asked if it is possible for organisations to make green decisions and still stay profitable, Michael is certain: “There will be some winners and there will be some losers, but those banks and organisations that start recognising this quickly and start making real and smart changes, those are the companies who will come out from this with more opportunities than ever.”

By 2040, about 44 million homes in the UK will have to install heat pumps, instead of being powered and heated by gas boilers. Michael views Sweden as a role model when it comes to efficient homes. “Sweden has been a real global leader in efficiency, both in terms of their housing stock, their buildings, and how they heat them. The whole world could learn from Sweden on this.”

With a transition that complex, many opportunities arise. “The jobs that are going to be created in changing how homes and commercial building are heated are going to be profound.

First of all, taking out all the old gas-powered combination boilers will require a number of skilled plumbers that we simply do not have, so we need to train people. Then, when taking out the boilers, we can’t just crunch them up and

throw them into a hole – semi-skilled workers will be needed to take the copper, aluminium, and plastic out so it can be reused. We used to call that recycling, but we didn’t actually recycle everything. Now, it is a bigger concept, and that concept is called a circular economy,” says Michael.

When starting to change an entire economy, new jobs are created in taking down the old economy, recycling the old and building new, sustainable solutions. “If you are a company, start putting those glasses on and you will be able to view your industry in a completely new perspective. All of a sudden, you will see the opportunities, investors will see it, and managers and the boards will see how to change their companies. In that way, it will create jobs which contribute to growing a green economy.

Not only is the green economy going to be a profitable one, I would argue that the brown economy is going to be a very dangerous one to be investing in and to be a part of even in the near future,” says Michael.

How companies can adapt in four steps So where does a company start? According to Michael, the first step is to figure out what

Michael emphasises that there are endless opportunities for many sectors to develop new, sustainable, and environmentally smart solutions. “If you have an open mind, technology can actually change the entire way you think about your transportation, your food, your housing, your mobility, and most importantly, your sources of energy.” However, there are four sectors in which he believes have the most potential: agriculture, mobility, real estate, and energy. “Those are the four industries I would focus on because they are key. Everyone needs shelter, everyone needs food, everyone needs to get around and everyone needs energy to power themselves.”

About Michael Sheren Michael Sheren is a Senior Advisor within the Bank of England. He provides counsel and independent challenge to senior management on matters concerning, governance, financial markets, and risk. Mr Sheren Co-Chaired the G20 Sustainable Finance Study Group, is a member of the NGFS and an Senior Advisor on climate finance to the UNDP. Further, Mr Sheren is an active developer of innovative sustainable finance structures around the world. Mr Sheren was a founding contributor to the BoE’s Fintech Accelerator and remains on its steering committee and is active in supporting and mentoring Greentech companies. Prior to Joining the Bank, Mr Sheren was an investment banker and spent over twenty-five years in the debt capital markets in New York and London. Mr Sheren holds master’s degrees from Harvard, The London School of Economics and NYU.

12

Partnership at the heart of innovation.

Saab’s ongoing alliance with UK customers, plays an important role in the co-development and

sharing of technological developments. Our innovations in electronic warfare and self-protection systems, have helped safeguard Royal Air Force pilots in Harrier, Tornado and shortly in Typhoon

aircraft. The Giraffe AMB and MAMBA radars, have detected threats to keep British personnel safe

around the world. Saab UK is prepared to grow our partnership with the UK, now and into the future.

Learn more at saab.com/uk

LINK

FEATURE

Reaching Generation Z: matching company values with CSR A question countless organisations ask themselves is “how do we reach the new generation?” – a challenge that, for many, can feel like stumbling in the dark. According to James Reason, CEO at SCC member Target Aid, the answers are transparency, communication and gamification. “Generation Z holds a very high demand for transparency, is fast in decision-making and needs to be able to relate to your values – therefore it is crucial to communicate with them in an engaging way.”

BY: MATHILDA KENNETT

The Swedish fundraising platform Target Aid enables individuals, organisations and companies to donate to charity projects, as opposed to donating to a whole charity organisation – making it more transparent as to which specific project the money will go to. Alongside providing the platform, Target Aid also helps companies with their CSR-work: “The service opens the opportunity for small to medium sized companies operating in different fields to do targeted CSR-work by engaging in specific charity projects, fitting their focus areas and values,” says James Reason, CEO at Target Aid. Generation Z and the importance of CSR During the past couple of years, Gen Z has proven to be very impactful when it comes to the reputation of a brand. With the generation having an increased interest and a strong will to engage in societal issues, it is important that businesses do so as well to connect with the target group. “As Gen Z is very fast in decisionmaking, and also possesses a great power to completely ruin, or praise, your brand through social media platforms, it is important to recognise their driving forces to stay on their good side. Therefore, knowing your values, adapting your CSR-work accordingly and making sure you communicate them in a transparent way is crucial, regardless if you view them as a target group in consumer branding or employer branding,” says James.

CLIMAT E CHANG E

For the new generation of employees, different aspects are considered when choosing a company to work for, as opposed to previous generations. For example, Gen Z wants to make sure they can personally stand by the company values before considering working for them. “It is so important to choose what to support as a company if you want to be true to your values, because again, Gen Z will not go for it otherwise, they will look for other companies.”

“As Gen Z possesses a great power to completely ruin, or praise, your brand through social media platforms, it is important to recognise their driving forces to stay on their good side.”

Gamification = engagement Target Aid provides data, CSR-service, and specific tools for companies to visualise and communicate social responsibility in a gamified way. “It is a win-win situation both for companies and charities, where companies benefit from the good publicity it gives with greater return of engagement, and charities receive more donations,” says James and continues: “When it comes to gamification, we have seen that making the donation process more interac-

tive equals more engagement – which is the end-goal for both companies and charities.”

Target Aid keeps track of the amount of donations done, as well as total amount in value.

When a project is half way through to its target, all donors receive an email – making it easy to follow the progression. “With the possibility to share your engagement in a charity project on social media directly from our platform, we can not only keep track of how many shares a project gets, but also how many donations and how much money has been raised due to your specific share on your social media channels – in that way, it becomes really transparent how much impact your specific engagement has made in the progress to reach a charity goal,” says James.

Entering the UK market Looking into the future, there is a lot going for Target Aid. “We are in a scale up phase right now. Amongst other things, we just recently landed a deal with the Norwegian Sports Association, giving us about 13,000 sports clubs as clients in Norway. Other great news is our collaboration with MasterCard,” says James and continues: “Our biggest news is that we are establishing in the UK in October 2021, and will launch an entirely new website for our UK business. We are really looking forward to entering the UK market.”

HUMAN RIGHTS

14

LINK

PATRONS HIGHLIGHT

navigating through unchartered waters Carrying both passengers and goods across the seas, international shipping and logistics company and SCC patron DFDS plays a crucial role in our everyday lives – making sure we have access to necessities such as groceries and medicine. The Link spoke to Jonathan Bailey, UK Commercial Director at DFDS Seaways, about the challenges they faced with Brexit and COVID hitting simultaneously, and how they managed to sail through the storm.

BY: SAGA PALMÉR

Founded in 1866, DFDS started as a merge of the three largest Danish steamship companies, mainly operating in the North Sea, English Channel and the Baltic region. Today, it is neither limited to the seas nor to the surrounding area. With its headquarters still located in Copenhagen, the company has broadened its territory significantly, including a recent decision to expand towards the south. “For the last three years, we acquired a business called U.N. Ro-Ro which is a heavy operator in the Mediterranean Sea, it offers services between France and Italy, then down towards Turkey and Greece. So, we have established a new link between the north and south of Europe,” says Jonathan.

Expanding across Europe DFDS has not only expanded geographically, but also in terms of services. Historically specialising in sea services and shipping, it is now including other means of transportation such as road and railway. Today, the business is split into different divisions, with two divisions and two sub-divisions, operating on both land and sea. “We have a logistics business, which is

a traditional road haulage service, including warehouse and door-to-door solutions. Then we have the ferry division, which operates the ferries, and within the ferry division, we have the freight division and the passenger division.

The passenger services are primarily in the English Channel, and Newcastle to Amsterdam. The freight vessels, on the other hand, operate all over the North Sea, the Baltics, and now in the Mediterranean as well.”

Strong UK focus Even with its roots in the Nordic countries and the recent expansion towards the south of Europe, DFDS has a strong focus on the UK. It has been operating actively in its main port in Immingham since 1995. 25 years in operation is an event Jonathan marks as an important milestone in the DFDS relationship with the UK – one they were unable to celebrate due to the pandemic.“The big milestone was last year, the 25th anniversary of being operational in Immingham. We had lots of things planned for the celebration, but it all got cancelled due to the pandemic. We will still celebrate that in time, whether it will be the 27th or the 28th

anniversary, although that might not have quite the same ring to it. But we don’t really want to wait to the 30th.”

But having to cancel the silver anniversary celebration was not the only challenge brought on by the pandemic. Both lockdowns and safety measures had to be taken into account, while still having to meet the demands of the customers on delivering goods. “It would be fair to say that the last 18 months have been very much crisis management. Our absolute key focus was to keep our employees safe, but at the same time, we have a responsibility to the country to make sure the supply lines remain open. So even before things like lockdown became reality, we had to anticipate that something like that may happen, while trying to protect our people by reducing footfall through the port.”

Keeping food and medicine flowing through the country Jonathan highlights the dilemma of trying to limit the number of employees having to work in office or at the ports, while still trying to guarantee that the necessary goods were delivered on time. “The biggest focus was looking after our people, but also the wider responsibility that we have in this industry, to keep food, medicines, and other things which were needed by a lot of people, flowing through the country. We had to be very agile and very reactive, while being as proactive as we possibly could.”

While staying alert to constantly changing policies and demands, the pandemic was hitting the business financially as DFDS saw a drastic fall in the demands of its services.

“It was a very tough time, volumes dropped significantly, probably by about 30 to 35%, pretty much overnight. Q2 of 2020 was very, very quiet as the pandemic sort of shifted, but for each new wave we got better at knowing what to do and how to handle it.”

Jonathan Bailey, UK Commercial Director. Photo: Paul Morton.

15

Jonathan says that the main lesson brought by the pandemic is how to increase flexibility in the way the service operates – with more focus on hygiene, less business traveling and higher allowance on flexible working.

LINK

PATRONS HIGHLIGHT

“It was a very tough time, volumes dropped significantly, probably by about 30 to 35%, pretty much overnight.”

DFDS has been operating actively in its main UK port in Immingham since 1995. Photo: Paul Morton.

Looking ahead DFDS pre-pandemic goal was to double the size of the business by 2023, focusing on four key areas, including digitalisation, growing solutions for different industries, network expansion and added value for customers.

According to Jonathan, this target is still relevant even with the changes brought by the pandemic. “We created four key pillars that focused on various things to achieve that growth. Apart from digitalisation, one is about growing solutions for selected industries, focused primarily on the forest, metals, waste and the automotive industry. The last two points are about developing and expanding our network through acquisitions as well as creating additional value for passengers.”

DFDS has several different projects coming up, and Jonathan is hoping that they will help the business achieve the goal, both by looking at how to improve internal systems as well as making different systems cooperate as efficiently as possible. “We are in the process of rolling out a new warehouse management system which should enhance the customer experience and make us a little bit more efficient. The other main focus is around the connections between the custom systems, particularly for us in the UK, but also exportwise in continental Europe and Scandinavia, and making sure those links are seamless.”

With the pandemic showing both the importance of and possibilities coming with digital solutions, DFDS is working to digitise parts of its services. The team is currently developing services for passengers to manage bookings and finding information directly online. Yet, the

digital transition is a big step to take. “In certain industries, digitalisation takes some time to be grasped, and I suppose the logistics industry in general is one of those industries.

But a big focus around digitalisation, and what it can deliver is about ease of use and speed of response. We are working on improving booking systems, and we have a new system called My DFDS freight, that allows customers to make a booking themselves within our system.”

Towards a greener, cleaner future Apart from the digital transition, another transition happening all around the globe is the green switch. As a logistics company, DFDS is putting a lot of emphasis on sustainability when planning for the future, not least looking at emissions and the wellbeing of the marine wildlife. “We have a strategy that we are committed to delivering a reduction in our carbon footprint of 45%, minimum by 2030. We have several key environmental ambitions, such as supporting marine environment and to target a reduction of land-based electricity by 25% per employee, by 2023.”

Starting in 2006, DFDS is already a long-time member of the Orca Wildlife Monitoring Programme and has reduced its fuel consumption by 25% in the same period of time, by using technology and investing in improved and more eco-friendly vessels.

As DFDS is moving towards a future post COVID and Brexit, there are still some challenges waiting further ahead. Jonathan sees two main issues surrounding the infrastructure and the different – and not always compatible

– goals of their customers and suppliers. He admits that the challenges will require some work and effort, but is nothing but optimistic when it comes to surmounting them. “One of the big challenges is to have the infrastructure in place to be able to deliver according to our targets. The second challenge is making sure that the goals are aligned between suppliers and customers. Our customers have their targets, which are not always the same as ours. So, aligning that across the entire supply chain is always a challenge – but with the right collaboration it is still achievable.“ After a stormy year and a half, DFDS seems to be arriving safely at shore, with business being back to its normal levels and the team being able to go back to focusing on the upcoming target. “Volumes have returned strongly after the pandemic. With a pre-Brexit rush happening, it meant that we had the busiest Q4 we have ever had, and this year has been pretty stable with volumes. As we go into 2022, we would like to see things back to pre-pandemic levels, with the main focus on the continuation of growth, and with our strategy for 2023 still in place.”

THE PATRONSHIP The SCC patronship consists of a core group of SCC member businesses committed to supporting the Swedish-British business community. The patronship comes with a range of benefits – if you would like to know more, please contact membership@scc.org.uk.

16

CAN’T SMOKE? CAN’T VAPE? CAN

NOW YOU CAN TOBACCO-FREE NICOTINE POUCHES Produced by Swedish Match

This product contains nicotine which is a highly addictive substance.

LINK

FEATURE

Communication is key:

Managing a workforce in a pandemic Manufacturing was one of many industries that saw the pandemic turn their operations upside down overnight. With a large volume of workers affected, borders closing and deliveries getting delayed, manufacturing companies had to think of new creative ways of running and turning around their businesses. The Link spoke to SCC patron Alfa Laval – a company that not only succeeded in managing its operations, but also in contributing to society’s fight against the virus.

BY: MATHILDA KENNETT

“It was very encouraging that we could keep the business floating. We were very concerned about the future of Alfa Laval about a year and a half ago, if we would make it through or have to downsize, but we managed to keep the same volumes up for 2020 as we did in 2019,” says Mikael Hellborg, Managing Director at Alfa Laval UK & Ireland.

Managing a workforce in a pandemic For Alfa Laval, a world leader within heat transfer, separation and fluid handling, the initial uncertainties the pandemic caused, gave the company many new challenges to face. Even though the pandemic showed limited effect on production, the workforce was a bit more tricky to manage.

“We had to map out our workers and locate what zones they lived in, if those zones were amber and red listed and what that meant for them. Then the next step was to find an efficient way of communicating that to our employees,” says Anna Gillard, Human Resources Business Partner at Alfa Laval UK & Ireland.

Mikael Hellborg, Managing Director, Anna Gillard, Human Resources Business Partner and John Smith, Service Operations Divisional Manager at Alfa Laval UK & Ireland.

According to Anna, the company took great measures in ensuring that all employees were up to date with new restrictions. “One essential thing we did was to start an internal communication email with timely and regular updates on how we as a company would deal with new guidelines from the government.

Now, in hindsight, we can see that communication was incredibly important and something we rightly prioritised,” she says and continues: “Whilst working remotely, we wanted employees to continue to feel engaged, so we also started sending out weekly employee surveys to everyone, to get an understanding of how our colleagues were feeling. This is something we have chosen to continue with as we return to the office because it has given us great insight and our managers are working closely with their teams on their results.”

“We had to be creative and find new ways of managing our field service business, in order to make sure our customers producing vaccines got the service needed.”

Getting products to vaccine producers When the question arose regarding key worker status, and whether sites could stay open, Alfa Laval took the decision to do so, as some of its customers operate within key sectors such as the food industry, wastewater,

and – more important now than ever – vaccine production. “We are fortunate to have large sites, which allowed us to ensure social distancing for those workers who remained on-site. The most prominent change happened for our field service engineers, who were restricted by travel guidelines as well as hotels closing. However, we had to find new ways of managing our field service business, in order to make sure our customers producing vaccines got the service needed, which took some creativity at times,” says John Smith, Service Operations Divisional Manager at Alfa Laval UK & Ireland.

Learnings from the pandemic When asked about the biggest learnings from this whole experience, Anna emphasises that communication is key. “As soon as it became apparent that this was going to become an issue, we set up our crisis management team.

We had quite a comprehensive risk assessment in place and everything we decided was communicated to the whole company.” She believes one of the biggest learnings was to recognise that everyone reacts differently to different situations, and the value of listening to each team and thereafter reacting accordingly.

Mikael emphasises that although the rapid adoption to digital meetings has been a real life-saver during the pandemic, it is only one tool in the ‘new’ business arsenal. “A big learning from this experience is the value of in-person meetings. Without them, a huge bunch of the company culture and context disappears in the digital world.”

18

LINK

FEATURE

Smarter experiences for both merchants and shoppers The evolution of shopping has always moved in one direction: towards greater convenience. Gradually, merchants have developed new methods of delivering additional value to their customers, hoping to grow brand loyalty and drive more sales. These forms of added value – concepts like loyalty programmes, digital receipts or customized recommendations – are increasingly being judged by customers on their convenience and overall user experience. The Link spoke to Dev Subrata, Founder and CEO of tech company and SCC member Fidel API, about how to upgrade concepts like loyalty programmes and the future of the shopping experience.

BY: SAGA PALMÉR

“Consumers today have endless options and want immediate satisfaction. That means it’s more important than ever for brands to prioritise the customer experience and create deeper, more personalised and responsive engagements to generate initial interest and hold a customer’s attention,” says Dev Subrata, Founder and CEO of Fidel API. Traditionally, users have had to carry loyalty cards or agree to their inboxes being flooded with newsletters and offers to receive rewards. Digital receipts are often encumbered with physical sign-up processes at checkout.

Merchants have had no simple means of merging their online and offline customer views, resulting in disjointed pictures of their customer base. “These sorts of issues make for a far less convincing experience. They don’t win over customers – rather they add friction and cost excessive time and resources to build. Simply, achieving the right level of convenience and customisation in a digital retail experience hinges on one thing; accurate, consistent access to transaction data.“ Standing out from the crowd Multiple studies conducted on the psychology of shopping show the power of personalisation to cultivate engaged customers. For example, a study by Epsilon indicated that 80% of consumers are more likely to make purchases when brands offer personalised experiences. “Customers today are inundated with more and more brand messages, making it more important than ever to stand out in such a crowded environment,” explains Dev. “By putting the data collected by the loyalty programmes to use in real-time, engagements can be personalised or tailored to someone’s individual behaviours, offering a much better user experience.“ With a connection to transaction data, a merchant could, for example, link previous purchases to one made in-store and deliver a specific offer to a customer, in real-time. Not only does this engage a customer during a payment event, but it’s far more likely to grow

19

affinity to the brand and encourage repeat purchases. No barcode scanning, no loose loyalty cards, no additional steps.

All in one place As a customer, one thing you’ll likely carry with you when shopping is your payment card. With API technology – best described as a connectivity layer, handling the complexity of a specific process – Fidel APIs are able to facilitate the one-time enrolment of a specific card to a merchant’s programme and match it to any payment made with that merchant post-enrolment. This makes it possible to spot a transaction at the tap of a card. Over on the merchant side, all spend can be attributed accurately to a card, whether online or in-store, producing a single customer view.

“Customers today are inundated with more and more brand messages, making it more important than ever to stand out in such a crowded environment.”

“We offer a suite of financial infrastructure APIs that allow developers to register experiences at the same moment as the payment card is swiped, dipped, tapped, or typed. Our tools are transforming how merchants and users interact, by powering loyalty and rewards programmes and revolutionising processes from reimbursements to expense management.”

In other words, Fidel creates a digital connection between the merchant and the credit card, working with companies like Google Pay and British Airways on one side, and card networks – Visa, Mastercard and American Express – on the other.

Dev Subrata, Founder and CEO of Fidel API. Photo: Fidel API.

Dev believes that the services made possible by this technology will not only lead to a better customer experience, but also to increased sales. According to Dev himself, the most efficient way to recruit a customer to any retail programme is to make it easy. If the enrolment threshold is too high, customers typically lose interest quickly. The customer might feel that the programme benefits are not worth the hassle. By providing the ability to engage a user during a payment event, with no extra steps, a range of new additional value-adds can be passed onto customers by merchants. It’s Dev’s hope that as engagement increases, so will the quantity of data that can be used to continue building a smarter, sleeker and more holistic experiences for both merchants and customers.

LINK

FEATURE

New EU VAT e-commerce rules: What you should know On 1 July 2021 the EU revised the VAT treatment for supplies of goods and certain services to EU based consumers on the principle that all such supplies should be subject to VAT in the country where the consumer is located.

Sharon Gillies, VAT Director at SCC member firm Rawlinson & Hunter, answers some of the most common questions arising from this revised policy and how it affects businesses.

What is the purpose of the new EU VAT e-commerce rules?

The European Commission’s goal is to put EU and non-EU businesses supplying EU consumers on an equal footing, and potentially reduce the costs of complying with EU cross-border VAT rules. Although, this could increase costs for some businesses who previously had no requirement to register in the EU. In addition, more supplies are brought within the scope of EU VAT, increasing EU tax revenues.

What changes do the new rules entail?

The supplier is obliged to register for VAT in the country where the consumer belongs and charge VAT in that country. However, in order to lessen the burden for businesses of potentially having to register in many EU jurisdictions, new One Stop Shop (OSS) schemes have been introduced. These allow eligible businesses to be able to register with just one EU tax authority to manage their VAT obligations across the EU. The three new schemes that have been introduced are: Non-Union scheme – this applies for any business that is not established in the EU (now including UK suppliers) but charges EU VAT on supplies to consumers.

Union scheme – this applies for EU businesses making intra EU supplies of most services and distance sales of goods to consumers.

Sharon Gillies, VAT Director at Rawlinson & Hunter.

Import scheme (Import One Stop Shop) – this applies

for businesses selling goods to EU consumers in consignments of a value of less than €150 (£135GBP). The supplier must register for VAT in the EU and charge the VAT due in the consumers country at the point of sale.

VAT is accounted for in the EU under the IOSS scheme registration.

are no longer charging UK VAT on supplies that are no longer within the scope of UK VAT.

This means that for these relatively low value consignments there is no VAT to be paid at the point of import into the EU, with the aim of facilitating faster customs clearances.

It should also be noted that under the Northern Ireland (NI) Protocol in the Brexit agreement, NI is treated as though it were still a member of the EU for supplies of goods only between NI and the EU. Therefore, it should be borne in mind that reference above to the UK strictly means GB (England, Scotland & Wales).

Who do the rules apply to?

The rules apply to businesses who make supplies of goods and certain services directly to EU consumers. The rules also apply to online marketplaces when sales are facilitated via the marketplaces.

How are UK based businesses affected by the new rules?

Previously, businesses making intra EU or UK to EU supplies could account for VAT in their own countries on the supply to the EU consumer in most cases. Eg, a UK business would have charged UK VAT. Now, a UK business making such supplies to an EU consumer should not charge UK VAT on those supplies but instead should consider the need to account for VAT due in the country where their customer belongs.

What action do businesses need to take to align with the new rules?

Businesses need to consider the nature of their supplies to EU consumers and the requirement to register for VAT in the EU. Consideration should be given to the exact requirements of the schemes and the need to perhaps appoint a tax representative in some EU countries. Businesses should ensure they

The above is an overview of these somewhat complex EU VAT changes which impact nonEU business making supplies to EU consumers.

Businesses should seek further specific advice as appropriate on any aspects of these changes that directly affect them.

About Rawlinson & Hunter Headquartered in the City of London, Rawlinson & Hunter is the UK’s largest combined firm of Chartered Accountants and Chartered Tax Advisers, specialising in the provision of taxation advisory, taxation compliance, accountancy, assurance and other services to individuals, families, entrepreneurs and businesses. The firm has been serving clients from London since 1933.

About Sharon Gillies Sharon Gillies, VAT Director at Rawlinson & Hunter, has a wealth of VAT experience spanning some 30 years both within HMRC and private practice. Sharon has an extensive knowledge of all areas of VAT with particular expertise in relation to Art Galleries & Artists, Financial Services, Land & Property and overseas businesses investing in the UK.

20

LINK

FEATURE

FINANCIAL SERVICES AND THE DIGITAL LEAP In recent years, we have seen growing demands in making every part of society more sustainable. However, one sector has faced many challenges when trying to adapt – the financial sector. With its many regulations and high demands on security, there has been a general fear of converting physical confidential financial documents to be completely digital. The Link spoke to Henrik Kristensen, CEO at Reguity, Christopher Ansara, Founder and CEO at ALT/AVE and Nino Vang Vojvodic, Co-founder and CTO at ALT/AVE – two companies trying to change the game. By using the latest technology, they aim to make the digital finance bubble both easier, safer and more sustainable.

BY: SAGA PALMÉR

Due to the profound digitalisation of everything we do – from working, to socialising and shopping – the finance sector has been forced to move in the same direction. To handle the growing demand for an online presence, at the same time as taking all regulations and potential security flaws into consideration, have not been an easy task for the industry. However, Henrik Kristensen, CEO at Reguity, believes that within this transition, both challenges and opportunities are born.

Opportunities in unlisted companies Previously, one big challenge investors had to face, was to find companies willing to invest outside of the stock market. Reguity is working to make this both easier and safer by collecting and presenting different alternatives on one single platform. This financial infrastructure platform aims to bring businesses and investors together, as well as to create a clear and concise overview of the investment history.

“It’s very common for companies to miss to thoroughly document its ownership. In most countries, there is a legislation associated with the Companies Act, saying that each company should have a shared ledger. The shared ledger should include all transactional history, and you should be able to navigate in the company’s accounting history; to be able to tell who the owner was and of what, at each specific moment. This is not a simple process, especially for someone without experience doing it. On our platform, we help companies to secure their private equity assets – offering services that under normal circumstances are available solely to public companies or CSD registered companies.”

According to Henrik, the process of investing in these companies can be fairly complex, and involves a lot of risk both for the buyer and the seller – risks that the platform is trying to reduce and prevent – all while juggling the challenges following an increasingly globalised market. “The buyer needs to understand if the purchase of the asset is legit, while the seller is at risk of not receiving the payment. For example, if a German owner of a Swedish company wants to sell it to a British investor, you will find yourself in a situation with many challenges.

Not only geographical challenges but chal-

21

lenges when it comes to language, currency exchange and so on. Our digital platform offers a solution for these types of issues, so you can decrease the time you need to spend on it.”

Worry-free detail sharing Another company, also overcoming the challenges of online security but in a slightly different way, is RegTech company ALT/AVE. Many of us have gotten used to sharing documents online, after doing so for decades, but only recently did these services become available within the financial sector. Restricted by regulations and the high demands on security when sharing confidential information, these companies have been working hard to find new, safe ways to keep up with the digitalisation.

“It’s very common for companies to miss to thoroughly document its ownership. ” As documents such as contracts and terms of services often contain sensitive or confidential information, sending and sharing them online can be tricky – even complex and expensive.

On the other hand, being able to send the documents digitally is both quicker, and – if done right – more secure. ALT/AVE uses distributed ledger technology, meaning that information is encrypted and stored at multiple places at the same time – making it impossible to change or to hack and helping ensure that its platform is meeting the regulatory and security standards of the industry.

Christopher Ansara, Founder and CEO, and Nino Vang Vojvodic, Co-founder and CTO,

explains how it works. “When a financial institution transfers a document to a customer using our service, it runs through an advanced algorithm. This algorithm then generates a hyperlink that can be embedded in an email to the customer, with a call to action. Once checks are completed within the client application, the document ‘unlocks’ and customers are then able to view the document,” Nino explains.

Win-Win for both the planet and the client This way of sharing information is not only safer for the users, but also for the planet.

Christopher says that once the service is up and running, it will result in a 95% reduction in paper usage and a 25g decrease in CO2e per document, compared to with postal delivery.

He highlights the need for more digital information sharing in the future as one of the main driving forces behind the idea of the platform.

“Our backgrounds are within financial services, and we saw how much paper was needlessly used – and wasted – throughout the sector. The thought of treeless forests and streams of vans delivering mountains of needless paperwork kept us up at night and so we set to work to find a solution.”

Both ALT/AVE and Reguity see great potential to grow in the future. The pandemic forced society into an online lifestyle, that most likely will stick around post COVID. This shows that the demand for secure financial services online won’t slow down anytime soon. And as we’ve already seen, the challenges are both many and complex when confidential information is moving from physical to digital – but with new technology, and innovative companies making the most of it, the future is looking bright.

Henrik Kristensen, CEO at Reguity, Nino Vang Vojvodic, CTO at ALT/AVE and Christopher Ansara, CEO at ALT/AVE.

LINK

FEATURE

Making its best year to date admist the pandemic In uncertain times, it is particularly hard to run an organisation, with many tough calls to make. With the current pandemic, everyone has had to adapt one way or another. The Link spoke to SCC member Trion Tensid, who managed to redirect its business to fit the current needs, and so, made 2020 its best year this far.

BY: MATHILDA KENNETT

For Trion Tensid, developer and manufacturer of performance cleaning chemicals, 2020 became the most successful year this far. As a result of the ongoing pandemic, the demand for alcohol products skyrocketed. For ten weeks, the company redirected and started

William Stomilovic, CEO at Trion Tensid, and Thorbjörn Bengtsson, Chairman of the Board at Trion Tensid.

producing hand sanitiser and surface disinfectant alongside the production of its speciality – graffiti removal and graffiti protection. The high demand left the workers with a very heavy workload, which in turn led the company to hire extra labor until the demand was met.

During these weeks, about 40,000 litres of alcohol was produced.

New challenges arising Even though things were going better than expected, new challenges arose as a result of the pandemic. “The greatest challenge was to find substitutes for the raw materials and packaging we usually received from suppliers in Taiwan and China, as well as communicating the delays to our customers,” says William

Stomilovic, CEO at Trion Tensid. During this intensive period, luckily none of the employees were infected by the virus. To be on the safe side, employees were asked to stay home if they had any flu-like symptoms.

The value of in-person meetings Although the company managed to run its business through digital meetings, much got lost within the digital walls. “We have importers in every key market in the EU and the UK that handle the trade in the markets they are in, and digitalisation can simply not live up to the in-person meeting. However, we learnt from the pandemic that a lot can be managed with digital aids,” says Thorbjörn Bengtsson, Chairman of the Board at Trion Tensid.

The Chamber welcomes new Membership and Community Manager to its secretariat The SCC’s Sofia Larsen, Senior Manager Membership & Community, has decided to step down from her role to pursue new ventures. We would like to express our greatest gratitude to Sofia for her hard work and commitment during her four years at the Chamber and we wish her all the best going forward. The Chamber is pleased to announce the appointment of Christoffer Waldemarsson as successor, effective from beginning of August 2021.

Sofia, how would you describe the past four years working at the Chamber?

Fun, full of learnings and opportunities, and humbling. It has been such an incredible mix of meeting the members and understanding how the chamber can best help, combined with helping to run the events and developing the office, the team, and the SCC offering to our members and wider network. A unique experience, and what a community!

Do you have a particular favourite memory from working at the Chamber?

This may be a very obvious answer, but the Christmas Lunch will always have a special place in my memory – I was lucky enough to get to experience it three times as a part of the team and can’t wait to see it all as a guest.

Christoffer Waldemarsson and Sofia Larsen.

Photo: Mathilda Kennett.

What is in the future for you going forward?

I am joining Thor Companies – a UK based, Scandinavian focused search and selection company, where I will be working with clients primarily within building and infrastructure.

A big part of the role that I am really excited about is setting up their new Copenhagen office and building the Danish market team there.

Christoffer, tell us a little about yourself.

I’m a Swedish national who just moved to London from Copenhagen, where I’ve resided for the past three years. My background – both academic and professional – lies in the intersection of international business and politics, having held positions both with the Swedish Foreign Ministry working with international trade and, more recently, as manager in a Danish Business & Public Affairs consultancy.

What led you to apply for the position as Membership and Community Manager at the Chamber?

Having worked with relations in different forms – be it diplomatic or business related – and having a background in international trade, the position seemed like a great fit. I’m also proud to promote Swedish-British interests and to join a team with such high ambitions and qualitative output.

What do you look forward to the most with this new position?

I am of course buzzing to meet as many members as possible and hear about their businesses, stories and plans for the future.

It’s also very exciting to slowly get back to inperson events and meet-ups, and I’m looking forward to the impressive programme that we have planned at the Chamber for the autumn.

22

LINK

Feature

Reaching the unreachable job candidates with HR tech With the world becoming more global and more digital by the day, head-hunters and job seekers have opportunities they could only dream of a couple of decades ago. But with many of the practical issues out of the way, they are facing a new spectrum of challenges. Recruiters need to figure out how to reach potential candidates in a feed of countless news, ads and updates, and then find the right person for the right position. The Link met SCC member firms Adway and Exparang – two companies exploring uncharted territories in the job search jungle.

BY: SAGA PALMÉR

Social talent acquisition platform, Adway, helps enterprises and recruiters find candidates on non-traditional platforms with the help of AI and automated workflows to drive time efficiency.

According to Adrian McDonald, CEO at Adway, the people best suited for certain positions aren’t always actively looking for a new job, and are therefore not present on platforms such as job boards. “When posting a job ad on a traditional recruitment platform, you will almost certainly only reach the 20% of people who are actively searching for a job. We want to reach beyond the other 80%, since the right person for the position, even if not actively searching, might be open to change job if he would stumble upon the right opportunity”.

Instead of trying to reach potential candidates by posting ads on traditional job boards, Adway is present where the candidates are spending their time – social media. “The idea is not only to change the location, but also the method.

Since different types of people are present on different platforms, you need to work with a multi-channel approach and use tech to deliver time efficiency. That way you can customise

“The right person for a position, even if not actively searching, might be open to change job if he would stumble upon the right opportunity.”

your content – such as ads, copies and so on – to the different platforms to reach through the noise.“ The process of finding passive candidates takes several things into account, including employer requests, behavioural patterns and attribution data. “When you know the profile that you are looking for, you can ask yourself where these people are spending their time. Once you know that, the matchmaking can begin. “ Matchmaking made in the dark Another business mixing recruitment with technology is Exparang, whose platform is matching candidates with opportunities, without exposing their identities. As the profile of the member remains anonymous, the candidate can source – and be sourced – without having to worry about its current employer, or other people, finding out. “We help our members – mostly leaders and seasoned professionals – to discreetly access personalised career opportunities. On the other side, we help our clients – hiring managers and recruiters – to find outstanding candidates for board, executive and other key position searches.” says Carl Schander, CEO and Co-founder of Exparang.

The idea for the tool was born in the frustration Carl and co-founder Filip Strömbäck felt while working in human resources with traditional recruitment methods. “We both have a background in international executive search, but despite having the resources of some of the world’s top tier executive search firms, we were missing out on fantastic candidates who were in the market but not visible to the conventional research methods.”

They were convinced that they could create better matches by letting technology remove any potential worries. They developed an algorithm able to determine the best match for a given job opportunity or candidate profile. “Based on deep executive search domain knowledge, we developed a type of ‘match engine‘, with a sophisticated assessment and scoring system.

The connection is only made once we see a strong mutual interest.”

In other words, the profiles and positions are brought together by smart technology, and the identity only revealed if both parties agree to move further.

Adrian McDonald, CEO Adway.

23

Carl Schander, CEO Exparang.

“Despite having the resources of some of the world’s top tier executive search firms, we were missing out on fantastic candidates who were in the market but not visible to the conventional research methods.”

A more inclusive recruitment These new, smart recruitment systems can avoid some of the ethical challenges seen in traditional headhunting. Letting an algorithm, instead of a human, find the best fitting candidates can prevent errors and erase blind spots often created by the human factor. For instance, an algorithm will not discriminate or make decisions unconsciously influenced by bias or prejudice.

At the same time, both Carl and Adrian think that humans still play an important role in the recruitment process, for example to customise content. So even with this more advanced technology stepping up the recruitment game, it seems as if the “human” in “human recourses” will stick around for a bit longer.

2021

1906 Annual

Christmas Luncheon E LANDMARK TH

2 December | 25+ speakers | Nobu Hotel London

3 December | The Landmark, London

This is Outer Thinking

Largest luncheon of its kind outside of Sweden

The world is facing some fundamental challenges, from disruptions lead by the technological revolution, to climate change and a workforce with new conditions to relate to. At the SwedishBritish Summit 2021 we look at our joint future ahead, the challenges, and how we can learn from each other. “Outer Thinking” is about 21st century leadership, bringing together business leaders, entrepreneurs, politicians and academics from both Sweden and the United Kingdom, to address the greater trends facing us, from tech to climate change, the future workforce or global trade.

The Swedish Chamber’s Christmas Luncheon has a long history dating back over a century. Today, it is the pinnacle of the business calendar, bringing together business people from across the Swedish-British community and is the largest luncheon of its kind outside of Sweden. The Luncheon will feature a traditional Lucia procession, a grand charity raffle, first-class entertainment, great company, and unique networking opportunities. To make it even better, the Luncheon is followed by an after-party that will keep the festivities going.

Hélène Barnekow CEO, Microsoft Sweden

Leif Johansson Non-Executive Chairman of the Board, AstraZeneca

Jan-Olof Jacke Director General, Swedish Enterprise

Darja Isaksson Director General, Vinnova

Micael Johansson President & CEO, Saab

Jens Henriksson President and CEO, Swedbank

Cecilia Malmström Visiting Professor, University of Gothenburg and former EU Trade Commissioner

Andrew Bowie MP and Vice Chairman of the Conservative Party

Åsa Tamsons Senior Vice President and Head of Business Area Technologies & New Businesses, Ericsson

Sponsor

For prices and booking information, please visit scc.org.uk

Sponsors

Swedish-British Summit and Annual Christmas Luncheon Package The Swedish-British Summit takes place the day before the Annual Christmas Luncheon. Why not book a package and attend both events? Contact events@scc.org.uk to book a package.

In partnership with

LINK

previous events

SWEDISH-BRITISH DINNER 23 AUGUST On 23 August, the Chamber brought together business leaders, policymakers, media and other stakeholders to celebrate the business community at the annual Swedish-British Dinner at Rosewood London. This was the first in-person event hosted by the SCC in London since March 2020, and for many of the guests it was a long awaited opportunity to meet with peers from the community outside the virtual realm. A special thanks to partners, the Department for International Trade and the BritishSwedish Chamber of Commerce, and to Volvo Cars for sponsoring the event.

Kristian Elvefors (Volvo Cars).

25

Gagan Mohindra (Member of Parliament).

H.E. Mikaela Kumlin Granit (Swedish Ambassador to the UK), Jan Olsson (Deutsche Bank).

Steve Angus (Department for International Trade).

James Armstrong (Scania), Anders Engstrand (SEB), Emma Reynolds (TheCityUK).

Maj-Britt Krejcir (SEB), Magnus Lewis-Olsson (Saab).

Peter Sandberg (SCC), Peter Jelkeby (IKEA), Luke Seaman (Klarna).

LINK

previous EVENTS

Kristian Terling (HSBC), Niklas Nordström (AIM Public Affairs).

Björn Savén (IK Investment Partners), Mikael Sørensen, James Sproule (Handelsbanken).

Mike Cherry OBE (Federation of Small Businesses), Hélène Barnekow (Microsoft).

Peter Burman (EF Education First), Ranj Begley (Readly), Nicole Melillo Shaw (Volvo Cars).

Anna Crona (SCC), Geraldine Elliott (RPC).

Trevor Warmington (Rawlinson & Hunter), Anna Mann (Skanska).

Mikael Sørensen (Handelsbanken), Fredrik Bergsten (Kinnarps).

Lord Mountevans (House of Lords).

26

LINK

PREVIOUS EVENTS

Young Professionals Connecting Drink 25 AUGUST On 25 August, the YP hosted the first in-person event of the autumn for the young professionals of the Swedish Chamber community at The Little Orange Door. Lots of members as well as peers from the network enjoyed an evening of connecting and socialising. After a rather uneventful year when it comes to faceto-face events, the atmosphere was buzzing with people finally being able to meet each other again.

The young professionals got together for networking and drinks at The Little Orange Door.

David Molin (SCC), Hanna Sedihn, Thomas Sand Malm (Howe Robinson), Thomas Bressler (SCC).

Sara Rolén (SCC), Jordan Hart (Klarna), Jonathan Pike (Carter Backer Winter).

SCOTLAND-SWEDEN BUSINESS EXCHANGE PART II 2 SEPTEMBER Together with The Aberdeen & Grampian Chamber of Commerce in Scotland, the Swedish Chamber of Commerce invited delegates an exchange mission for Scottish and Swedish businesses, looking at the opportunities and support available when setting up in respective country, and helping you with an ecosystem boost. The session focussed on in-depth and sector-specific opportunities for Scottish and Swedish businesses, looking at life science, clean energy and technology. Participants met successful entrepreneurs from respective region to learn about the opportunities available in Scotland and Sweden for their sectors and business. Supporting partner: Invest in Skåne.

27

LINK

Upcoming events

Peter leads on developing Innovate Finance’s international and national initiatives, to support and promote UK FinTech, and the opportunities for our members to grow, by developing relationships with like-minded hubs across the UK and around the world.

The SCC is offering a mix of virtual and inperson roundtables, forums and summits.

For our live events, the SCC is continually monitoring government and health guidelines to protect our team and our guests. Along with the venue provider, we want to provide a safe environment. Learn more at scc.org.uk/events

upcoming events

with Jan discussing his journey and career in finance, the biggest lessons learned, and the opportunities of working in London – the world’s leading financial centre. The conversation will be moderated by Susanna Sandell, Regional Director of the UK and Nordics at DFIN Solutions, and you will have the opportunity to engage and ask questions. Make sure to secure your spot, as this event is limited to 15 participants.

Emerging stronger, vol. 5: The rise of protectionism and its challenge to globalisation

Impact 2021

23 September | Kimpton Fitzroy, 1-8 Russell Square, London With growing calls for a green recovery and societal acceleration in fighting climate change – business, policy makers and consumers need to walk hand in hand. Join us at Impact 2021 to hone in on the key issues and solutions in helping us reduce our footprint, and together reaching the United Nations sustainable development goals. You will meet businesses making real impactful changes to their operations, business models being turned upside down, politicians and policy makers working alongside corporates, and the next generation entrepreneurs and ideas shaping our future.

Sponsored by SEB, Skanska, SSAB, Vattenfall, Wastefront and White & Case.

30 September | Virtual The system of rules and regulations that has governed world trade for decades has slowly come under threat in recent years, with a rise in barriers and trade stand-offs between e.g. the US, China and the EU. Adding fuel to the trend, the coronavirus has emerged as perhaps the most serious challenge to the wave of globalisation which has been underway since the 1990s. What does this mean for two of the strongest and most ardent free trade supporters – Sweden and the United Kingdom?

Welcome to our fifth event in the “Emerging stronger” series, featuring David Cairns, Former UK Ambassador to Sweden and Vice President Political and Public Affairs at Equinor UK, Mats Persson, Former Chief of Staff to the Chancellor of the Exchequer and former Special Advisor to the Prime Minister, James Sproule, Chief Economist, Handelsbanken and former Senior Business Adviser to the Prime Minister and Anna Stellinger, Deputy Director General, Head of International and EU Affairs at Confederation of Swedish Enterprise. The discussions are moderated by Nik Gowing, Director and Founder of Thinking the Unthinkable and former BBC news anchor. Sponsored

by Handelsbanken.

Virtual Roundtable feat. Magnus Lewis-Olsson, Chairman and President, Saab UK 6 October | Virtual Welcome to this Virtual Roundtable featuring Magnus Lewis-Olsson, Chairman and President at Saab UK, on the future of the international defence industry. Leading the Swedish defence and security giant, Magnus Lewis-Olsson is the President of Saab UK, Chairman of Saab Technologies UK, and board member of Saab Grintek Defence. Magnus started his career at Saab as a Gripen test pilot in 1999, after having spent more than a decade in the Swedish Air Force. He has since then held numerous country and regional managerial roles, including leading several international Gripen campaigns.

Link Up Drinks with Hirsh London

Virtual Roundtable feat. Peter Cunnane, Director of International & National Initiatives, Innovate Finance

28 September | Virtual Welcome to this Virtual Roundtable discussion featuring Peter Cunnane, Director of International & National Initiatives at Innovate Finance, on the UK as a FinTech center, the latest innovations, and the future of the industry.

Peter is the Director of International & National Initiatives at Innovate Finance, the industry body representing the UK FinTech sector.

Young Professionals: Evening Talk with Jan Olsson, CEO Nordics at Deutsche Bank

30 September | SCC, 5 Upper Montagu Street, London Welcome to an Evening Talk with Jan Olsson, CEO Nordics at Deutsche Bank and Chairman of the SCC. Participate in this exclusive session

14 October | 46 Conduit Street, London Welcome to Link Up Drinks hosted by Hirsh London in their Conduit Street townhouse.

Established in London by Anthony & Diane Hirsh in 1980, the quintessentially British brand is run today by couple Sophia and Jason-Paul Hirsh – the second generation who are leading the way forward with their passion for rare gemstones and British craftsmanship. The evening promises drinks, light snacks and highlevel networking, and the opportunity to meet the Chamber’s newest members in a relaxed atmosphere.

28

LINK

IN OTHER NEWS

Photo: Klarna

Klarna supports SME’s postpandemic recovery

SCC patron Klarna is launching a £3 million support package to help small businesses get back on their feet after the pandemic.

With research showing nearly a half of SME owners are worried about the survival of their business, the program is aiming to help 100 retail SMEs on their road to recovery. The package includes things such as free products and media support to help boost customer acquisition. In addition to the support package, an accelerator programme is launched to help British based SMEs with tips and guidance to help them grow their business.

Photo: Veg of Lund

Veg of Lund’s DUG recommended by The Vegan Review SCC member Veg of Lund’s latest product DUG has recently been called a “plant-based innovation at its finest” by The Vegan Review.

As the world’s first plant-based milk made from potatoes, the latest launch of Veg of Lund has received a great response. DUG comes in three different varieties and can be used as a substitute for milk in several ways. The Vegan Review is a digital platform that highlights news, products, and events for vegans and others interested in a more sustainable and plant-based lifestyle.

29

Photo: SAS

SAS launches new route from London Heathrow to Scandinavian Mountains Airport

SCC patron SAS introduces new flight from London Heathrow to Scandinavian Mountains Airport in Sweden, available from 26 December. “The huge interest for alpine skiing and winter holidays in Scandinavia has seen an increase over the last few years, and despite the ongoing pandemic we are optimistic about the upcoming season as our guests and citizens are being vaccinated. Furthermore, the accessibility for international skiing enthusiasts will be even more convenient with this new flight from London to our destinations in both Sälen and Trysil,” says Stefan Sjöstrand, CEO at SkiStar, and continues: “We are thrilled that SAS values our destinations and see this as an opportunity. We are looking forward to welcoming our new and recurring guests this winter.”

London tops rankings for tech and foreign direct investment Despite the UK market being shaken by the pandemic, as well as by Brexit, London continues to be the number one city in the world for tech enthusiasts and foreign direct investment. For the second year in a row, the UK capital triumphed the fDi and TNW Tech Cities of the Future 2021 ranking, taking the lead in five out of six measured categories, including innovation and attractiveness. The report is made by comparing data from 76 cities in 31 European countries, with Paris and Dublin following in second and third place.

Photo: Goodwille

Goodwille appoints new CEO After 4.5 years, Alexander Goodwille has stepped down as CEO of SCC patron Goodwille and welcomes Kevin Rutter as his successor. Kevin has many years of experience in service business and has held multiple leadership positions in leading UK accountancy practices. “It is a huge privilege to serve as Goodwille’s CEO at an exciting time for the business. Over the years I have worked as CFO of Goodwille, I have seen first-hand the enormous potential of the company and the opportunities that lie ahead. I look forward to developing the company further in close cooperation with my fantastic colleagues, business partners and international clients,” Kevin says.

Ericsson and Vodafone halve network energy consumption SCC patron Ericsson has through joint forces with Vodafone completed the first deployment of a new energy-efficient 5G radio in London.

Designed for future-proof and sustainable networks, Ericsson’s new radio is 51% lighter in comparison, and its more compact design and improved energy management features will help to optimize overall site footprint, making 5G rollout and 4G upgrades faster and easier. 1500 of the new radios will now be deployed across Vodafone’s network by April 2022, helping to reduce Vodafone’s forecasted energy consumption of its future 5G network and support a sustainable and responsible 5G rollout. “Building on the success of an award-winning 5G network in London, it is another fantastic achievement for Vodafone and Ericsson to reduce network energy consumption by a daily average of 43 %,” says Björn Odenhammar, Chief Technology Officer, Networks and Managed Services, Ericsson UK and Ireland.

LINK

Photo: SSAB

First fossil-free steel produced in the HYBRIT project

SCC patrons LKAB, SSAB and Vattenfall have successfully produced the world’s first fossilfree steel and delivered it to a customer. As part of the HYBRIT partnership between the three companies, this is an important milestone on the way towards a completely fossil-free value chain for iron- and steelmaking. “Industry and especially the steel industry create large emissions but are also an important part of the solution. To drive the transition and become the world’s first fossil-free welfare state, collaboration between business, universities and the public sector is crucial. The work done by SSAB, LKAB and Vattenfall within the framework of HYBRIT drives the development of the entire industry and is an international model”, says Minister of Trade and Industry of Sweden Ibrahim Baylan.

Photo: Volvo Car UK

Volvo Car UK in new sustainability collaboration with Eden Project Volvo Car UK has announced a new partnership as the Official Automotive Partner of the Eden Project, as well as the Eden Sessions music concert. The three-year collaboration aims to inspire and educate visitors about people’s relationship with the environment and how to protect the planet to create a safer future. “This is a collective effort, and to

achieve these targets we need to partner with organisations and individuals that share our same vision. The Eden Project is the perfect long-term partner for us in this respect. As a business, we can learn a lot from their ongoing initiatives that provide an eye-opening insight about our relationship with the planet. With our shared values, we hope to bring this environmental message to the forefront of everyone’s mind and continue to be a catalyst for change,” says Kristian Elvefors, Managing Director of Volvo Car UK.

IN OTHER NEWS

“To preserve life-saving antibiotics for current and future generations, we need to take action on a global level. As a hygiene and health company with sales in 150 countries, Essity addresses issues where hygiene and health are part of the solution. Working together with the public sector and other companies makes it possible to accelerate change with higher impact in the fight against AMR,” says Magnus Groth, President and CEO of Essity.

Photo: EY Photo: White Arkitekter

White Arkitekter’s Blackwall Yard development approved by the Tower Hamlets Council An 898-home mixed-use waterfront district in the heart of East London – a development called Blackwall Yard, designed by SCC member White Arkitekter and others, has recently been unanimously approved by the London Borough of Tower Hamlets. Alongside homes, the development features a complete framework for living, including a primary school, riverside dining, community hub and a new public realm that opens the Thames Path for the first time in thirty years.

Essity joins United Nations Foundation expert group

EY acquires Seaton Partners Limited SCC patron EY acquires UK technology business, Seaton Partners Limited. Seaton Partners is a UK-based consulting firm specialising in Microsoft Dynamics 365 Business Applications, including Finance and Supply Chain Management, HR and Power Platform. The acquisition supports the EY ambition to meet the organisation’s Microsoft growth ambition to expand EY capacity, capabilities, and market presence across Microsoft Dynamics 365 ERP. “The acquisition of Seaton Partners demonstrates the EY ambition, commitment, and dedication to supporting new and existing EY clients with their digital transformations across the UK and the world. We look forward to welcoming the Seaton Partners team and clients to the EY organisation at what is an exciting period of growth and development,” says Benoit Laclau, Managing Partner for Consulting, UK & Ireland, Ernst & Young LLP.

SCC patron and hygiene and health company Essity expands its partnership with United Nations (UN) Foundation by joining a crossindustry group that brings together corporate experts in the fight against antimicrobial resistance (AMR). AMR occurs when bacteria, viruses, fungi, parasites, and other microorganisms change in ways that make medication ineffective and infections persist in the body.

The main causes of AMR are lack of clean water and sanitation, inadequate infection prevention/control and antibiotic misuse.

30

LINK

IN OTHER NEWS

Image: Scania

Image: Readly

James Armstrong new Managing Director of Scania UK

Readly in new partnership with UK’s largest rail operator

With effect from 1 July 2021, James Armstrong succeeded Martin Hay as Managing Director of Scania (Great Britain) Limited. “Going forward, my priorities will be to build on the solid foundation Scania has in the UK by further developing the range and scope of services we provide, and continuing to enhance the skills and working lives of our team members,” says James.

SCC patron Readly brings back newspaper and magazine reading on the train through partnership with Thameslink, Southern and Great Northern. With the commute returning, those travelling on Thameslink, Southern and Great Northern trains are offered free unlimited digital magazine and newspaper reading.

“The regular commute and train travel have always been popular times to read magazines and newspapers, so it’s great to see it return as restrictions ease and people are able to travel again. We are therefore delighted to be partnering with Thameslink, Southern and Great Northern to entertain, inspire and inform people on the move as they journey across the UK to their destinations and give them the opportunity to read the broad portfolio of titles on Readly’s service,” says Rob Hanlon, Global Partnerships Director at Readly.

Image: Stora Enso

Stora Enso wins four ScanStar packaging design awards SCC patron Stora Enso has received four Nordic ScanStar awards for convenient, ecofriendly packaging designs that replace plastic.

All winning designs are made of renewable wood fiber. This year the ScanStar awards received a total of 32 submissions from the Nordic countries and 14 awards were given out. Stora Enso’s winning designs are: An Ecofriendly magazine packaging concept for Vogue Scandinavia, an innovative berry container called EcoFreshBox, a renewable logistics packaging made for an intelligent fridge, and a corrugated board packaging optimised for transporting fragile products.

31

Image: Business Sweden

Team Sweden releases 2021’s Global Business Climate Survey On 1 September, Team Sweden, a collaboration between Business Sweden, Swedish Embassies and Swedish Chambers around the world, released the 2021 results of the annual Global Business Climate Survey. The survey captures the current views and future expectations of Swedish companies abroad,

in 22 global markets. Over 1,400 respondents participated and reported, amongst other things, that they believe the business climate has improved compared to last year. 74% of Swedish companies expect their industry turnover to increase and 50% plan to increase their investment slightly or significantly in the next twelve months. “Swedish companies’ optimism confirms our expectations of a strong global economic recovery, although the rapid spread of the delta variant poses a risk,” says Lena Sellgren, Chief Economist, Business Sweden.

Image: IKEA

IKEA releases circular product design tool SCC patron IKEA is on the journey to design all products with built-in circular capabilities by 2030. After assessing over 9,500 products, IKEA is now sharing its methodology and insights to inspire and engage designers and accelerate the movement towards a circular economy. This has been summarized into the circular blueprint and is shared through an online interactive tool. “Circular product design is at the forefront of the discussion about circularity. By sharing our blueprint through an easy-to-use interactive platform, we want to convey the insights we have gained so far and share them with anyone who is interested in circular product design. This is our take on what circular product design means and how to navigate this approach,” says Mirza Rasidovic, Range Engineering Leader, IKEA of Sweden.

LINK

experience from different industries, where he has led several global brand transfers, acquisitions, innovation initiatives and internal change processes. He is used to working with management groups in complex situations where communication plays a crucial role, which is where he will continue to strengthen our team in Stockholm,” says Helena Norrman Partner and Managing Director for Kekst CNC in Sweden.

IN OTHER NEWS

award. Technology and innovation are crucial to Ignition Law as a business. The Law Technology we have built tracks and rewards business development and performance in a positive way, empowering our team to work towards goals that are linked to career progression and ensuring we are part of growing the firm in a cohesive, meritocratic and sustainable way,” says Alex McPherson, Founding Partner of Ignition Law in a statement. Winners will be announced in an online ceremony on 7 October.

Image: Bulten

Bulten reduces CO2 emissions by 30% with new innovation

SCC member Bulten, manufacturer of a wide range of standard and bespoke fasteners, has launched a new fastener product family, which drastically reduces carbon dioxide emissions, and at the same time halves energy consumption during the manufacturing process. Bulten’s ambition is to create and deliver the most innovative and sustainable fastener solutions. “Our newly launched BUFOe product family is based on the removal of the heat treatment process that we normally use when we manufacture fasteners. This means that we can save up to 50% in energy consumption, while reducing carbon dioxide emissions by around 30%,” says Henrik Oscarson, Technical Manager at Bulten.

Image: Kekst

Stefan Nerpin joins Kekst CNC as Director in Stockholm SCC member Kekst CNC, a leading global strategic communications firm, recently announced that Stefan Nerpin has joined the comapny as Director of the Stockholm operations. Most recently, Stefan worked for Volvo Group, where he was Senior Vice President Global Marketing, Communications & Public Affairs for the Volvo Buses business unit. “Stefan Nerpin has uniquely extensive international business and communications management

ABBA on top of Spotify charts with new single and new ‘avatar show’ in the works On 2 September, Swedish pop legends ABBA unveiled new music for the first time in four decades – two new songs and an album to be released in November. Within two days of the release, the two songs rushed to the top of the mosted streamed songs on SCC patron Spotify’s platform in Sweden, and took the 44th and 46th place of the most streamed songs globally. Also, the group unveiled its long-awaited concert that will feature ABBA’s hologram avatars accompanied by a 10-piece live band in a custom-built arena at Queen Elizabeth Olympic Park in London. The avatars were created based on the live recordings by the band members in present day and then digitally edited to create an appearance of the band onstage the way they were 40 years ago.

The concert will feature 22 songs, including some of the band’s greatest hits and their two new songs out today, and last 1.5 hours.

Danske Bank secures first place in latest FX Prospera survey SCC patron Danske Bank has been ranked number one in FX advisory and trading in the Nordics, according to the latest survey from Prospera, collecting feedback from large companies and institutions that have rated a number of Nordic banks. The survey also concludes that Danske Bank is number one overall in the Nordics – a place that the bank now has held for six consecutive years. “We are working hard to make sure that we have the right culture in place. That means a focus on global teams that encourages collaboration across markets and ensures that we have the best skillset available to every market in the Nordics. That’s a part of the reason why we are able to secure the top spot in markets where we are not the dominant player,” says Martin Vorgod, Global Head of FX Sales, Large Corporates and Institutions at Danske Bank.

Ignition Law shortlisted for prestigious award SCC member Ignition Law has been shortlisted for the Law Society Award, in the Excellence in Technology and Innovation category.

The award is the highest accolade for law firms in England and Wales. “We are delighted to have been shortlisted for this year’s Law Society ‘Excellence in Technology and Innovation’

Got news for us?

Email jonas.eklund@scc.org.uk.

32

Det händer…

Svenska kyrkan i London

Café Måndag, tisdag och torsdag 10-15

Svensk sångstund - för barnfamiljer tisdagar 13.00

Northern Star Festival 16-18 sep 16 sep 12.00 - orgelkonsert, Fredrik Karlsson

Mer info samt biljetter via www.svenskakyrkan.se/london

17 sep 19.00 - Songs of the Nordic Forest Flauguissimo Duo & Emily Atkinson, sopran 18 sep 19.00 - Musica Notturna United Strings of Europe

6 Harcourt Street W1H4AG London

svenskakyrkan.se/london 020 7723 5681

www.rivalcolour.com Reaching Generation Z:: matching values with CSR

finding the perfect match with HR tech

Target Aid on how to reach the new generation through transparency and by staying true to company values.

Adway and Exparang using technology to break new grounds in recruitment matchmaking.

Managing a workforce in a global pandemic Alfa Laval on facing uncertainty and why communication is key when handling a crisis.

LINK

Print in Good company!

Dedicated to the Swedish-British business community since 1906

» The SCC use Rival

for printing services – in fact you’re looking at our printing NOW!

”We are trying to take the best of Swedish and UK game development traits and offer something new and interesting to the community.”

Fredrik Rundqvist, CEO of Sharkmob, on the launch of the game company’s new studio in London.

No.357 0-12.indd 1

07/09/2021 19:00:29

CONNECT WITH THE INDUSTRY AT THE EVENT FOR DIGITAL MARKETING

Debatable Issue 14 – November 2013 | Souvenir Edition

A summary of the debates held in the House of Commons by the UK Youth Parliament, 15th November 2013

“Democracy is such a beautiful thing – I want a piece of that” (Georgina Hands, MYP for Lincolnshire Central)

WWW.AD-TECHLONDON.CO.UK SOCIAL | MOBILE | EMAIL | DATA/ANALYTICS DAT ATA AT TA/ANALYT L ICS | AFFILIATE/PERFORMANCE LYT AFFILIATE/PE A ATE/PE RFORMANCE DISPLAY A ADVERTISING/TARGETING AY ADVERTISING/TA T RGETING | AD SERVERS/NETWORKS | OPTIMISATION TA OPTIMISAT A ION AT VIDEO | RTB/EXCHANGES | SEARCH | CRM | MULTICHANNEL | CONTENT MARKETING Platinum Sponsor Debateable print 2013.indd 1

Gold Sponsors

Silver Sponsors

Real Time Advertising Summit

Video Summit

28/02/2014 11:08

IF YOU CAN PRINT ON IT...WE CAN PRINT IT! #adtech_london @adtech_london

Spice-2943 Cover-245x170_v2.indd 1

20/08/2013 16:14

LINK

GUEST COLUMN

How leaders can help employees back to the office Returning to the office after having worked remotely from home during the pandemic may involve challenges. While some have been successful in working from home, others have had to overcome a number of challenges. Regardless of whether a post-pandemic working life will involve more flexibility or not, organisational leadership and management need to find ways to navigate through the potentially challenging process of going back to the office.

PETRA LINDFORS, PROFESSOR OF PSYCHOLOGY AT STOCKHOLM UNIVERSITY.

While many have enjoyed and been successful in working remotely from home during the pandemic, others have struggled and missed their offices. The reasons behind the differences in individual experiences of remote work during the pandemic vary. While international research suggests an increased burden on working women who have had to juggle remote work while also catering for children whose education has moved online, or dealing with family members interrupting their work, others have come to value spending more time with family, friends, and on leisure activities instead of the daily commute to the office. This means that some office workers are more willing to return to the office, while those who value their increased flexibility may be more reluctant to return to full-time office work.

While the pandemic called for emergency remote work solutions and swift adjustment as leadership and management had to learn new ways of communicating efficiently and providing support and feedback to co-workers, today there is more time to prepare and ponder potential solutions to the post-pandemic working life. While many agree that the office still plays an important role in the future working life, ideas on how the space should be used vary. Some argue that the office should, at least partly, be turned into a meeting space that allows creative discussions, while others point at the necessity of providing all employees with a desk. Yet others argue that increased flexibility involves having employees working at least a couple of days a week at the office and rotating between office work and remote work at home as a way of optimising job performance, job satisfaction, and well-being. Also, both leadership and management need to be ready to handle the different expectations of

their co-workers regarding any future opportunities to continue working from home which will require additional managerial flexibility. In particular, this would require leaders and managers to consider whether remote work is at all a feasible option for an organisation, and if so, identify the work tasks that can be performed remotely, reconsider and provide technological solutions that facilitate working successfully at different places. Maintaining flexibility in a post-pandemic working life includes acknowledging both positive and negative experiences of working remotely during the pandemic to make informed decisions on how different and potentially divergent individual, workgroup, and organizational needs can be met while still providing a good working environment.

“Clearly written policies may be particularly helpful for leadership and management in communicating how employees can successfully tackle the challenges of post-pandemic working life.”

Ideally, leadership and management should strive for an open discussion on how to structure the post-pandemic working life. This openness involves communicating clearly that the open discussion is a process and that any sustainable organisational solutions must strive to balance individual experiences and expectations and organizational needs.

Moreover, organisational responsibilities will include providing employees with possibilities

to successfully carry out their different work tasks while also creating opportunities for social exchange, career development and learning, longterm health and wellbeing. Importantly, these organisational processes and solutions are likely to vary Petra Lindfors, Stockholm University. Photo: Private. between organisations depending on organizational size, and the work tasks specific to the occupations within a particular organisation.

At times, organisational decisions that managers have to communicate may come into conflict with individuals’ strive for increased flexibility. However, clearly written policies that are accessible to all within an organisation may then be particularly helpful for leadership and management in communicating how employees within a particular organisation can successfully tackle the challenges of postpandemic working life, and how a strategically sound leadership and management can support a transition back to the office and facilitate the sustainability of both employees and the organisation.

ABOUT STOCKHOLM UNIVERSITy SCC member Stockholm University was founded as a college in 1878, reaching university status since 1960. With over 33,000 students at four different faculties: law, humanities, social sciences, and natural sciences, it is one of the largest universities in Scandinavia.

34

LINK

New patrons and Members

NEW PATRONS & MEMBERS The Swedish Chamber of Commerce for the UK is the ultimate business platform for Swedish and UK businesses, representing some 400 companies from across all sectors and industries, and from start-ups, SMEs, unicorns to large corporations. Membership comes with a suite of benefits for you, your colleagues and your business. If you would like to find out how you can maximise your membership, or to enquire about joining, please do get in touch at membership@scc.org.uk. But first, a warm welcome to our newest members.

NEW PATRONS

AIM PUBLIC AFFAIRS Aim Public Affairs provides leaders and decision-makers with strategies to form policy and influence public opinion. They are skilled at managing conflicts and crises that arise from complex issues. The Aim Public Affairs team has served in senior positions in politics and business. Their personal relationships and unique experiences provide valuable insight for their clients.

HSBC Founded in 1865, HSBC is one of the world’s largest banking and financial services organisations, serving more than 40 million customers through its global businesses: Wealth and Personal Banking, Commercial Banking, and Global Banking & Markets. HSBC’s network covers 64 countries and territories in Europe, Asia, the Middle East and Africa, North America and Latin America.

NEFAB AB Nefab saves environmental and financial resources by optimizing supply chains. This is done by innovating together with customers to create smarter packaging and logistics solutions while always respecting people and high ethical standards. This contributes to a better tomorrow for customers, for society and for the environment.

Nefab has more than 70 years of experience combined with competence and presence in more than 30 countries.

readly Readly is the European category leader for digital subscription services for magazines providing “all-you-can-read” access to a portfolio of approximately 5,000 titles and approximately 140,000 issues from trusted publishers. In collaboration with about 900 publishers worldwide, and with users in more than 50 markets, Readly is digitizing the magazine industry.

NEW members

candles scandinavia Candles Scandinavia is the largest Candle and Home fragrance supplier in the Nordic Countries both producing candles and Reed Diffusers as well a distribution the largest candles brands in the world.

It´s main uniqueness comes from the production facility producing 25.000 candles per day in 100% natural and 100% vegetable wax with premium burn performance. The company is specialized in Private Label production making external brands in high quality.

35

carnegie Carnegie is the foremost financial adviser in the Nordics. We bring investors together with entrepreneurs and companies to enable clients, owners and society to grow sustainably. Around 600 experienced and committed employees in our offices in the Nordic countries, London and New York work in capital raising, research and equity sales, side by-side with specialists in wealth management advisory, to guide our clients to better business.

LINK

New patrons and Members

DEALCLOUD DealCloud, an Intapp company, provides a single-source deal, relationship, and firm management platform that enables firms to power their dealmaking process from strategy to origination to execution. We offer fully configurable solutions purpose-built for the complex relationships and structures of private equity and growth capital firms, investment banks, private and publicly traded companies, debt capital providers, and other investors.

EQT EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. EQT has funds within two business segments – Private Capital and Real Assets.

EUROPARTNERSHIPS Europartnerships advises and assists companies to enter foreign markets and grow their exports into and from the United Kingdom.

Public sector and business support organisations find our network invaluable in supporting their clients’ international trade. Our project management ensures effective delivery and quality outcomes for trade missions and matchmaking events.

EY EY exists in over 150 countries to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets. Working across assurance, consulting, law, strategy, tax, and transactions, EY teams ask questions to find new answers to provide trust through assurance and help clients grow, transform, and operate.

johanson Johanson has reached an international audience with its Scandinavian design. For 70 years our home ground has been commercial and public interiors. We have always valued our manufacturing skills and are proud to be able to offer high quality made furniture. Our designers’ ideas in combination with our local craftsmanship traditions give our products a very special style and feeling.

northern horizon Founded in 2001, Northern Horizon is an independent real asset manager in Northern Europe specializing in innovative investment strategies. Northern Horizon currently manages four real estate funds pursuing niche investment strategies such as healthcare assets and commercial real estate. Teams are based across 6 offices. Investors are professional investors such as pension funds, insurance companies, corporate investors, and family offices.

noseoption NoseOption is a world leading medical device company that enables people to breathe better thorough its patented nasal devices. Under the brand NOSA, the company offers nasal products that filter out pollen, smog, virus, bacteria and odor. Products are sold worldwide to hospitals, emergency care, elderly care, police and to consumers through pharmacies.

Vilokan The Vilokan group is built on more than 30 years of experience of innovation in the field of environmental technology, water purification and recycling. Offers end-to-end solutions with operations and financing, with resources to serve global corporations and small enterprises. The circular solution brings additional benefits to the environment and the economy.

36

LINK

Meet

.. , gudrun sjOden BUILDING A FASHION EMPIRE ON A GREEN PHILOSOPHY She is the name, face and founder of one of the most successful Swedish clothing brands in the world. But even with a turnover of nearly one billion SEK and 340 employees, Gudrun Sjödén still gets involved in the details of the brand and products. Afterall, that is how it all started – and it is safe to say that her strategy has worked out well, but it wasn’t without its ups and downs.

BY: SAGA PALMÉR

With her signature bright colours and eyecatching patterns, Gudrun Sjödén is not a person who is looking to blend in. The same goes for the fashion brand that carries her name.

But there is more to Gudrun Sjödén than timeless designs and durable fabrics – she wants her clothes to be as pleasing to the planet as they are to the eye. “I want the concept of sustainability to run through everything I do – by using fabrics and designs that will last for many years without feeling out of fashion,“ she tells the Link.

Born with business in her blood Coming from a family of farmers, she grew up seeing the hardships of entrepreneurship upclose. She learned early on how the financial situation can be as unpredictable and shifting as the seasons, but did not let it stop her from following a similar path. However, she swapped life on the countryside for a more vibrant one in Stockholm, where she began her studies at Konstfack in 1958. Gudrun remembers these years as crucial for her understanding of the clothing industry. “During my time at Konstfack I learned to shift focus from the art of craftmanship to thinking in more industrial terms.” This was only the first of many drastic changes that were about to come into Gudrun’s life, and to society as a whole.

37

individual pieces instead of complete collections. And even if this meant that many of my designs were actually produced, I felt disappointed, and decided that I wanted to operate on my own terms instead.”

The birth of the brand As a result, Gudrun and her husband Björn founded the brand Gudrun Sjödén, visualising a brand with coordinated design clothing made of natural materials and fabrics, a concept which was far from standard at the time.

“These materials were not easy to find on the market back then. Most contemporary clothing was produced using materials such as synthetic fibres.”

“I want the concept of sustainability to run through everything I do – by using fabrics and designs that will last for many years without feeling out of fashion.”

The new era The 1950s turned into the 1960s, and with the new decade came a new mindset, affecting everything from politics to fashion. The ‘free 60s’ provided Gudrun and her colleagues with an increased artistic freedom, while globalisation opened new doors when it came to production. “Long and flowing skirts were swapped for miniskirts with geometrical patterns. The revolution created many new opportunities, both design wise, but also production wise, as large-scale production in more affordable sites, such as Hongkong and Portugal became accessible to us.“

Nonetheless, Gudrun was determined to stick to her philosophy and created her first own collection – a collection of sports- and outdoor clothing. The couple then began a promotion tour and managed to sell the collection to different stores in northern Europe, yet still found themselves struggling financially. “We participated in fairs and managed to sell the clothing line to quite a few stores. But it was difficult to finance the business, as production and sales had to be planned months in advance, but were both very hard to predict.“

The following years, Gudrun made her way as a freelancer, working for companies in Sweden, Finland and Hongkong. This helped her build an international network, but the terms of the freelancing life did not lead the type of sales that she had in mind. “The European chains that I was working with preferred to buy

Gudrun was comfortable when it came to design and production, but the business part was an area she did not yet master. “Money was the biggest issue. We were told that it would take about two years for a business to break even, but I would say that it takes ten years before you will make even the slightest profit.“

Opening the first store Gudrun and Björn opened the first Gudrun Sjödén store in central Stockholm 1976, and Gudrun remembers it as an important milestone in the history of the brand. “It felt like sign of success to have our own store and not being so dependent on department stores buying my collections.“ From day one, the couple made sure that their main focus was on customer satisfaction, realising that the most important factor to survive as an independent brand would be to create and maintain good relationships with their clients. They started producing their own promotional material, including a catalogue, where Björn handled the photoshoots while Gudrun was in charge of the layout, items and the production of the clothes.

In the beginning of the 1980s, Gudrun started accepting orders from the rest of the Nordic countries as well as Germany and the USA. As it was before the time of computers and automated systems, Gudrun and Björn were handling everything from registration to shipping by themselves. “We were writing down all the client information manually, packing and sending the orders ourselves. Björn and I were the biggest clients at our local post office – and very proud of it!”

Entering the international scene The brand continued to expand. With the help of Gudrun’s sister, who was living in Germany at the time, they established the brand on the German market, while operating the American branch remotely. Soon after, Gudrun Sjödén opened two stores, hired several employees and opened a main office in the outskirts of San Francisco.

The brand’s relationship with the American market was sweet but relatively short. Seven years later, Gudrun was forced to close her US business, as a result of the political instability unsettling the country at the time. “The war in the Middle East had a huge impact on the consumption patterns. When experiencing political insecurity, people are not in the mood to shop.

We were sad to close, but had no other choice than to accept it.”

LINK

Meet

Gudrun Sjödén, entrepreneur, fashion designer and founder of the brand bearing her own name. Photo: Gudrun Sjödén.

However, mail orders – the lifeline of the brand – kept coming even during the less fruitful times. Gudrun and Björn decided to put even more focus on remote customers and in 1997 they took the next pioneering step by opening up their first web shop.

“I would say that it takes ten years before you will make even the slightest profit.”

The shift Two decades later, Gudrun Sjödén is continuing to expand globally and to enter new markets.

China was supposed to be the next country

to conquer, but due to the pandemic, Gudrun had to put that plan on hold. However, her designs continue to draw attention all over the globe and Gudrun is benefitting from the new technological advances in multiple ways. “We continue to engage followers on our social platforms, both in Hongkong and other Asian countries. In Australia, where we continue to have good sales figures, we see the sales happening organically as well – through customer generated sales-groups on Facebook. It is amazing to see the customers creating their own market on their own terms.”

When asked about the future, Gudrun says she is optimistic. With the changes enforced by the pandemic, she managed to exceed her goal of seeing 90% of the sales taking place online, and with her green philosophy going hand in hand with the trends of today, she can expect

the success to continue. Next milestone is reaching a one billion SEK turnover – a target that is not too far away. “This is really exciting news for me and the board. I am convinced that our customers will keep coming back to us because they know they can trust us. They will stay true to us the same way that we have stayed true, and consistent, to our philosophy.“ This is, according to Gudrun, the key to creating an enduring and long-lasting client network.

And with her 45 years in the business and soon to be billion SEK fashion empire, it is clear that Gudrun knows what she is talking about. “In the end, the brands that stay true to their philosophy are the ones that can navigate through storms and survive hardships. Our values are carried by both our customers and employees – this is our most important legacy.”

38

Wear. Care. Recycle.