Success tips when doing business in Sweden in 2024

business engagement in Sweden

  1. Consensus and compromise are important values to the Swedish. Both should be considered during any business negotiations in Sweden;
  2. Handshakes during business meetings should be swift and firm. Men should wait for women to extend their hand before offering a handshake;
  3. Swedish business requires a high level of informal relationship building, while respecting the segregation of business and personal lives;
  4. Personal space is very important to the Swedish, and they tend to prefer a larger amount of personal space than in other countries. Foreign entrepreneurs should be respectful of this during meetings;
  5. Business appointments are helpful when doing business in Sweden and the majority of businessmen in Sweden will expect meetings to be scheduled a minimum of two weeks in advance;
  6. As not all local Sweden companies are well-versed with international trade, we encourage our Clients to consistently use and sign contracts of service;
  7. The Swedish communication style is open and direct. Do not be put off by what may seem to be abrupt, as it is unlikely it was intended to be so;
  8. Success in business negotiations with Swedish business persons comes down to the ability to present logically-sound business plans, as the Swedish reserve their respect for those with knowledge and experience;
  9. It is considered bad practice to show emotion during business negotiations in Sweden. Foreign businessmen should take great care to remain calm and collected during meetings.

Interesting facts about Sweden?

  1. In its 2013 World Competitiveness Yearbook, the Switzerland-based IMD positively ranks Sweden as the world’s 4th most competitive economy. The ranking takes into account factors including economic performance, government efficiency, business efficiency and infrastructure;
  2. Transparency International, a measure of corruption amongst public officials and politicians positively ranks Sweden as the world’s 4th least corrupt country in the 2013 Corruption Perceptions Index;
  3. The Forbes magazine best countries for business 2012 survey ranks Sweden as the world’s 5th best jurisdiction for business;
  4. It is ranked the world’s 20th freest economy in the Heritage Foundation’s 2013 Index of Economic Freedom, a measure of freedom enjoyed in business, trade, monetary, financial, investment and labour markets;
  5. According to the World Bank’s Doing Business 2013 Survey, Sweden is the world’s 14th easiest place to do business. The survey measures factors including company formation procedures, time, cost and minimum capital required to start a business;
  6. Sweden has agreed to commit to the standards set by the Organisation for Economic Cooperation and Development (OECD), which help maintain Sweden’s reputable image as a secure and long-term solution for many entrepreneurs;
  7. Sweden has remained neutral in all wars since 1814. Despite this, Swedes are required to complete 15 months of military service;
  8. Sweden is the world’s third largest exporter of music, after the US and the UK, with such famous bands as ABBA, Europe, and the Hives;
  9. The most common traditional summer party in Sweden is the crayfish party, involving crayfish being boiled and served with dill and potatoes;
  10. Sweden is home to some of the world’ most famous manufacturing and technology companies, including IKEA, Ericsson, Volvo and Saab.

Contact us

For additional information on our company registration services in Sweden, please contact our in-house country expert, Mr. Nik Zhukov, directly:
Consultant at HC - nik