Team Sweden in the United Kingdom are pleased to present the findings of the fifth edition of the Business Climate Survey for Swedish companies in the UK. The survey is – as always – a result of close collaboration between the Embassy of Sweden, the Swedish Chamber of Commerce and Business Sweden (the Swedish Trade and Invest Council) and part of the larger Global Business Climate Survey.

This year’s survey was conducted in a unique context with an upcoming General Election in the UK as well as rising geopolitical tension in both Europe and the Middle East, creating dual uncertainty at national and international level. In uncertain times, some businesses tend to adopt a wait-and-see approach. This could involve delaying strategic decisions and investments until there is greater clarity on the rules of engagement, such as the policy and regulatory environment in the relevant market(s) or the effects of conflicts or global pandemics on critical international trade flows and routes.

Despite this uncertainty, Team Sweden in the UK are delighted to present the key results from this year’s survey – pointing to continued strong Swedish-British bilateral trade relations, including:

  • 60% of respondent companies describe their company’s financial performance in 2023 as profitable
  • 81% expect their industry turnover to increase, while 54% plan for increased investments in the upcoming 12 months
  • A majority finds that the “Swedish brand” contributes positively to their business in the UK.

Please download the full report to overview the results with a detailed analysis. 

ABOUT THE SURVEY

Team Sweden in the UK have carried out the annual Business Climate Survey survey to understand how Swedish companies that are actively operating in the UK perceive the market conditions and the economic prospects of their business.

The survey was sent out to over 500 company representatives. There are an estimated 1,500 Swedish and/or Swedish-owned companies in the UK. The answers were collected during February and March 2024. The survey was completed by 48 company representatives.

We extend our sincere gratitude to all the respondents of the 2024 survey edition. As Team Sweden UK, we hope the survey contributes to the wider objective of furthering bilateral trade, investment and business relations between Sweden and the UK. We welcome companies and stakeholders who wish to engage further on the topics covered in the survey to get in contact.