Doing Business in Sweden

Sweden is internationally renowned for its history of entrepreneurialism and its affinity for egalitarianism. Despite its small size, Sweden has produced many multinational companies and is the European headquarters for many others. The country prides itself on offering a supportive business environment and encouraging innovation, making it a fantastic place to do business. 

For comprehensive information on starting and managing a business in Sweden, visit the Verksamt website. 

Fact facts

Business language

Swedish is the official business language, but English is spoken throughout with a high degree of fluency.

Business hours

8am to 5pm, Monday to Friday.

Business dress

Although suits are not expected, the dress code is smart-casual and conservative. 

Business greetings

Shaking hands is the most common form of greeting in the Swedish business environment, both in and out of the office, for hello and goodbye. This is the case for both genders.

Gifts

Err on the side of caution when giving gifts to business associates in Sweden. They are certainly not expected and could possibly be regarded as inappropriate.

Gender equality

Women are fully equal in Sweden and are treated fairly in the workplace. Those doing business in the country will usually receive the same treatment as men.

Business culture in Sweden

Business culture in Sweden is quite different from that of the US or the UK and may take some getting used to. Still, if you can become familiar with a few key elements before making the move, you are likely to find it easier to settle in.

Egalitarianism

Key to doing business in Sweden is the concept of egalitarianism – a belief in the inherent equality of people. Both organisational structures and management styles reflect this. Businesses generally have flat reporting lines and decision-making models that rely on consensus and compromise. For this reason, decisions can take a long time to be made, as many opinions need to be taken into account.

It also affects the way that business is conducted daily. Whereas senior associates in many other Western businesses are likely to have their own offices, it is fairly common to see a company CEO working alongside his or her employees in an open-plan office.

Collectivism 

Swedish egalitarianism also makes wealth or status redundant. Overt displays of wealth are likely to be viewed unfavourably. This is largely due to Jantelagen, or the Law of Jante, a Scandinavian tendency to emphasise collective well-being over individual success. 

For this reason, we recommend trying to blend in rather than standing out. You should also not expect your new associates to be impressed by your wealth and achievements automatically.

Professionalism

Business conduct in Sweden leans towards rationality, calmness and discipline, earning Swedes a reputation for being reserved and somewhat unfriendly. Firm lines are indeed drawn between business and social dealings, meaning that invitations to post-work socialising or being invited to dinner at a colleague’s house are seldom. 

One opportunity to circumvent the famous Swedish reserve is the twice-daily coffee break or fika, when the normal rules of engagement may be partially suspended.

Punctuality

Although governed by certain unwritten rules, business meetings in Sweden are typically informal. The first of these is to be on time – punctuality is a point of pride and signifies professionalism and mutual respect. Another principle to follow is to keep one’s emotions under control at all times.

Transparency

Finally, transparency and honesty are vital attributes of any business dealing, as evidenced by Sweden being one of the least corrupt countries in which to do business.

Dos and don’ts of business in Sweden

• Do respect silences in meetings or conversations as this signifies an idea is being considered
• Don’t stand too close; personal space should be respected
• Do get down to business right away
• Do be honest and forthright
• Don’t be late; advise of delays with as much notice as possible
• Do dress smartly when going out in the evening