Doing Business with SwedenPrepared by:-Manpreet Kaur GrewalSumit MalhotraNancy Sood

Interesting Facts

• Capital: Stockholm

• Population: 9.5 million (85% live in urban areas)

• Area: 450,000 sq.km = 174 000 sq.mi.

• Official Name: Konungariket Sverige (Kingdom of Sweden)

• Official Language: Swedish

• National Anthem: “Du Gamla, du fria, du fjallhoga nord” (Thou Ancient, Thou Free, Thou Mountain-Crowned North.”

• National Holiday: Flag Day, June 6

Resources

• Sweden's chief crops are grains, sugar beets, potatoes, meat, and milk, barley, oats, and wheat.

Resources cont.

• Sweden’s natural resources are timber, iron ore, and hydroelectric power.

Economy

• Sweden constructed an economy based on free enterprise, public ownership of utilities, exports, social welfare, and high taxes.

• Most important export industries: Mechanical engineering, automotive, information and communication technology, pulp & paper, power generation, pharmaceuticals, iron and steel, transport services and tourism.

• Most important import goods and services: Foodstuffs, raw materials and fuels, chemical products, machinery, electrical equipment, information & communication products and services, road motor vehicles, textile products & apparel, tourism.

Economy cont.

• Sweden’s major trading partners are the European Union, the United States, and Norway

Religion and Spiritual Beliefs

• Sweden’s religion consists of 87% Lutheran, Roman Catholic, Orthodox, Baptist, and other.

• Christianity was introduced in 829 but became fully established in the 12th century.

Religion cont.

• The Wasa Dynasty slowly introduced Lutheran Christianity and in 1604 banned Catholicism.

• Lutheranism was Sweden’s official religion from about 1540 to 2000.

Learning and Technology

• The Swedish government requires children from 7 to 16 years of age to attend school.

• Elementary and high school education are free for Swedish children.

Arts and Crafts

• Sweden made it’s greatest contribution to the arts in the field of industrial design with harmonious textiles, furniture, glassware, and ceramics.

Business Culture in Sweden

• Most Swedish businessmen would be surprised if they were told that their business culture differs greatly from the international norm.

• Management is based on the idea that the individual is willing and able to do a good job.

• Swedish businessesmen try to solve problems in an informal and practical way.

Travel Facts

• An average June day in Sweden can have 17, 19, or 24 hours of daylight.

• The time difference between New York and Sweden is 6 hours later.

• You do not need a visa to travel to Sweden.

• Most Swedes have a working knowledge of English.

• Some of the holidays in Sweden include:

– 1 January New Year’s Day

– 6 January Epiphany

– 1 May May Day

– 6 June National Day/ Liberation Day

– 24-25 December Christmas

– 31 December New Year’s Day

Business Expectations

• The handshake is the standard greeting for men and women.

• Use a formal form of address when greeting or making introductions.

• Punctuality is important in both business and social functions.

• In general, Swedes do not use many gestures and have quiet natures.

• Acceptable conversation topics include:– Sports– Sightseeing– Travel – Politics

• Inappropriate topics include:– Personal topics– Complaints about how things are run

Etiquette

• If you are invited to a Swedish home:

– Toasts before a meal.

– Dining Style.

– Giving gifts.

– After dinner.