Innovation and design
There are many examples of Sweden's commitment to innovation and design and it is the birthplace to some of history's most influential scientists. The curator of the Nobel prize and one of history's most successful industrialists and entrepreneurs Alfred Nobel was born in Stockholm.
In addition, the long list of world renowned companies and brands of Swedish origin such as Ikea, H&M, Ericsson and Volvo is testimony to Sweden’s industrial tradition, know-how and skill.
Among the most iconic examples of Swedish innovation are the pacemaker, the interlocking zipper and the three-point seatbelt. Sweden has also given the world Bluetooth, dental implants and the computer mouse, not forgetting the innovative music streaming service Spotify.
Sweden, with its open-minded culture, provides an ideal environment for entrepreneurs looking to launch the next big thing. The country boasts a relaxed but professional working environment and one in which the corporate world can work alongside academia to develop products and services that are truly at the forefront of what is possible.
Relaxed, professional environment
Sweden has a wealth of skilled professionals and the standard of living is good. The Organisation for Economic Co-operation and Development (OECD) states the country has the third highest life satisfaction among its 34 member countries.
It has an employment rate of 74 per cent, which makes it fifth among OECD countries, and nearly one-quarter (22 per cent) of the population aged between 25 and 64 has the equivalent of a Bachelor's degree.
A hub for business
Sweden occupies a central position in northern Europe and is the largest market in the Nordic region, made up of nearly 25 million people that constitute the twelfth largest economy in the world. It is therefore an optimal geographical location to house a company's regional headquarters.
High productivity in Sweden is commonly attributed to a creative work atmosphere, the application of new technology and a high quality of life, with time for personal development and family. Corporate structures are decentralized and encourage an empowered workforce. Sweden prides itself on conducting business in an open, straight-forward management style that is both relaxed and effective.
World-class research and development
Research and development (R&D) output in Sweden is well beyond that of other European economies.
According to the Innovation Union Scoreboard 2014, published by the European Commission, Sweden is above all other EU member states in terms of innovation. The country has a strong tradition of inventors and this, coupled with strong links between research institutes and the private and public sectors, make for a productive, forward-thinking country.
Sweden is also committed to R&D. The EU target for R&D is three per cent of GDP investment by 2020. Sweden had exceeded this target - investing 3.37 per cent by 2012.
Innovation and growth thrive in a country like Sweden thanks in part to its highly skilled workforce. The World Economic Forum's Global Competitiveness Report 2012-13 placed Sweden fourth in the World Competitiveness Yearbook 2014.
According to the report, Sweden is among the top ten for having an image abroad that encourages business development. In general, there is a strong correlation between a country's overall competitiveness ranking and its international image as a place to do business.
Low corporation tax
Sweden has a corporate tax of 22 per cent on net profit, lowered from 26.3 per cent in 2013. The country also benefits from a business-friendly corporate tax structure.
Ten reasons for Sweden