Top 10 Swedish Brands with World-Shaping Significance
How many times have IKEA or H&M inspired a whole new appreciation for Swedish genius? Let’s take it even further – did you know that Swedish genius leads the way in medical and navigation technology developments? It sounds far-fetched, but it’s true. We hope that this short read can show how a small country like Sweden can make such a valiant contribution to the world.
The positive impact of the above-mentioned Swedish companies have permeated almost every aspect of our daily lives. The Scandinavian country has made equality the purpose of the law, so that may be what drives the huge wave of innovation coming from them. It’s no surprise that Sweden is thought to be one of the best places to live in the world. We hope that some of this positive mentality rubs off on you while reading and encourages you to act on your dreams and aspirations.
Undoubtedly, this statistic is underpinned by the fact that Sweden is one of the easiest countries to do business with for outside entrepreneurs. Corporate taxes are exceptionally low, there are no thin capitalisation rules, and total tax deduction for interest is allowed. We must also point out the strategic location of Sweden. The country has access to the rest of the Nordic market and the entire European Union, which, alone, means exposure to more than 510 million consumers.
Swedish Brands – Facts Versus Popular Opinion
Sweden is home to several billion-dollar companies and the country shows no intention of slowing down. What makes many of these companies so valuable, is that they are consumer focused. Everyone who is aware of these two brands would agree that the policies and prices of IKEA and Volvo are created with the consumer in mind. The result – customers recognise good quality at affordable prices and support Swedish brands like IKEA, H&M, and Volvo.
What you will see presented here are the five most talked-about Swedish brands. We went a step further, and included five more companies founded in Sweden, which are less known but still influencial in their own right.
- Ikea – 56 М
- H&M – 17 М
- Volvo – 2 М
- Scania – 417 К
- Ericsson – 177 К
*Methodology: Ranking is consistent with the search volume for each brand name. The numbers were derived from Ahrefs research.
As of 2022, IKEA is worth 17.43 billion USD, staying ahead of Volvo, which has a 14.18 billion USD valuation. H&M and Spotify are no slouches when it comes to valuation either. Both companies are doing great in 2022 – H&M with a 12.37 billion USD valuation and Spotify with a 5.39 billion USD valuation. Nordea – a leading Nordic financial service group – was valuated at 4.11 billion USD in 2022. All these numbers mean that the Swedish economy is going from strength to strength, leading the way for small businesses.
The 10 Most Impactful Swedish Brands and How They Make a Difference
No matter how you look at it, the big Swedish companies are making history. However, the fact that the world we know today is being shaped by companies based in Sweden is not common knowledge. We can guess that you didn’t know some of the names we are about to mention are companies founded by Swedes. But you can be sure that this is the case with all the below-listed brands.
In the following lines, you will read some interesting facts from the beginning stages of these now well-established companies. Many of them have come to be companies of international renown on account of innovation or simply understanding the customer better than the competition. Whatever the case, one thing is for sure – these Swedish brands have left their mark on quite a few industries.
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We can point to the 2017 Carbon Disclosure Project where the company exceeded expectations, and the fact Tetra Pak joined the European Alliance for a Green Recovery as a confirmation of that.
The ‘Lagom’ Mindset in Action
By now, it should be evident there are multiple factors contributing to the success of businesses in Sweden. We see a whole mindset at work. The famous Swedish saying “Lagom är bäst” puts it best. Translated, it means ‘the right amount is best’. We can see that rule come into play in the way prices and stances on ethical issues are handled in the most successful Swedish brands.
We can simply state the obvious – it clearly works. Of course, there are other factors that propelled these businesses forward. We mainly attribute these success stories, and the influence Sweden has on the way the world is shaping up to the forward-thinking government of the country.
What Else is on the Cards for Sweden?
As the fourth strongest economy in Europe, Sweden is in the driver’s seat when it comes to change, and we see no reason why this trend shouldn’t continue. Of course, you have inflation rates on the rise and global uncertainty in certain areas, but that shouldn’t mean the end to the stream of innovation we see coming from Sweden.
It must be noted that, on the heels of a higher recession comes a much more modest growth rate of 2.2% for 2022 and only 1% for 2023 – predicted by experts. More and more business investors will have second thoughts before committing to a start-up, which will lead to flattening the unemployment chart. But overall, the inventions of Swedish minds have changed the lives of many and will probably keep doing so for generations to come.
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