A unique combination of technology and exportation investments has positioned Sweden as one of the most reliable locations to start a business. This, alongside the stability of its socialist political system, has caused many companies to rethink their business plans and relocate to Swedish land.
Sweden has been named one of the best European cities to launch a tech career. Therefore, it is no surprise that the country is home to many successful and global companies. The country has proven itself to be a pro-business heaven with forward-thinking policies and an advanced economy. A large number of referential companies began in Sweden including H&M, IKEA, Spotify, Volvo, and Ericsson.
The business culture in Sweden is very much centered around the idea of ‘Lagom’. This word means “not too little, not too much” which refers to the importance of balance and moderation within a team. This idyllic company culture contends that everyone’s ideas should be heard. Let’s explore what else the country has to offer and why so many people have opted for moving to Sweden.
Easy to Set Up Shop
The process of setting up a business in Sweden is relatively straight-froward. There are no limitations for foreign investors and there are simple rules for both the employment and redundancy of employees. Not only this but Sweden’s corporate tax framework is one of the most competitive in the region.
The most common business model used to launch a company in Sweden is a limited liability company. These are required to comply with the Swedish bookkeeping regulations and may require an auditor under certain circumstances. However, there is no need for a Swedish partner in order to launch your own business and shareholders can reside in any nation.
Amazing Social Benefits
The cost of living, such as rent or taxes, is relatively expensive in Sweden, especially when compared to other areas of Europe such as Spain or Italy. However, the Swedes are exceptionally proud of their high standards of living. The truth of the matter is that you may be paying more in taxes and rent, but you should be receiving an equally high salary and an incomparable number of social benefits.
Whilst working in Sweden you are legally entitled to at least five weeks of vacation every year. Sweden is one of the biggest spenders in relation to its GDP when it comes to its social welfare system. This is reflected in its outstanding human rights records, free education, and public transportation. Another great advantage to living in Sweden is that it has some of the fastest Wi-Fi in Europe, making it ideal for work, and that most of the population speaks English, which makes settling into a foreign country much easier.
Great Place to Raise Kids
Moving to Sweden is especially exciting if you are interested in starting your own family, as the country is one of the best places to raise children. The nation boasts of extremely low rates in regard to corruption, crime, and incarceration, making it a safe place to let your kids roam freely. Sweden also offers free college education to any EU citizens as well as free education to residents aged six to nineteen.
Another reason why Sweden is renowned for raising children is because it boasts of some of the world’s best maternity and paternity leave. According to the Swedish government, parents of both sexes are legally entitled to sixteen months (480 days) of paid leave, capped at 80% of their salary. This leave doesn’t expire until the child is eight years old and the fathers must take some of the paid leave. All in all, this policy is a great example of how much Sweden values equality.
Sweden has a vivacious summer and temperatures can even reach up to 30 degrees Celsius on the hottest days, although the average is around 20 degrees Celsius. Winters are much harsher, however, as the Swedes say, “there is no such thing as bad weather, just bad clothes”. If you do plan to make the move to Sweden, you’ll want to consider investing in some real winter clothes, not a standard fleece from your local sports shop. Sweden has some of the most beautiful landscapes in Scandinavia and the northern lights can even be seen from the north of the country.
If this article has convinced you to make the move to Sweden, congratulations! You are in for the adventure of a lifetime. Not only does Sweden have a thriving export-orientated economy, but it also boasts of a growing technology-sector and digital economy. This country has wonderful business etiquette, amazing social benefits, beautiful scenery, delicious food and a thriving economy. This Scandinavian country is different enough to keep you on your toes yet familiar enough to keep you there forever.