Are you new in Sweden and thinking about starting a business or bring your existing business here?
If you are wondering how to start or bring over a business of your own - especially when you are living in a new country - we will guide you through all the essential points for starting your journey as an entrepreneur in Sweden.
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Let’s start then:
Sweden is a wonderful place to start a business because of the very easy and straightforward processes. A person can start business in Sweden as soon as they have a resident permit and have Swedish personal number.
Do the market research:
When starting a new business, the first point is market research. Work out how many other similar businesses are out there, what exactly you going to offer and how you are going to separate yourself from your competitors.
Networking and advice:
One of the keys to success in business is in making your network work for you, regardless of what country you’re in. Besides friends, colleagues and relatives you might have in Sweden, how and where do you find people with ideas similar to yours or who might be potential customers?
You could contact your local branch of the Swedish Jobs and Society Foundation (Nyföretagarcentrum), who provide advice to new businesses and hold regular events around the country as well as Business Sweden that can help you connect with other companies.
Another way to find advisors and build your network is through a website called verksamt.se – set up by three Swedish authorities (the Companies Registration Office, the Tax Agency and the Agency for Economic and Regional Growth); they have a page to help you find advisors depending on which region you are living in.
Swedes are very much an online breed, so as you get to know more people, use social networking tools like LinkedIn and Facebook, Twitter to help you keep track of your new contacts and watch your networks grow.
Get permission for your business:
Certain types of businesses in Sweden require a permit to operate. Verksamt.se has a handy list of the various trades, professions and businesses that require permits, as well as contact details for the bodies that issue them. After checking about permit, you can move to registering your business.
Different type of business:
There are several forms of business enterprises you can choose to register in Sweden:
(1) sole trader,
(2) starting a limited company,
(3) a trading partnership or an economic association.
If you haven't run a business before, starting off as a sole trader might be a good option for you.
As a sole trader, you run your business. No starting capital is required when you register as a sole trader, which makes this form of business attractive.
As a sole trader, you can just register for tax with the Swedish Tax Agency. All the other business types need to be registered at the Swedish Companies Registration Office (Bolagsverket) before you can get started.
Make a plan:
If you need anyone else to be involved in your business, a good business plan is essential. It is also agreat way to get your ideas down on paper (or screen!) so you can refer back to it later on. It doesn’t have to be long or complex: a simple statement of what you plan to do and how you plan to do it is perfect.
Financing your business:
There are several private and state-owned financing agencies that help businesses with capital and advice. An option is to use your savings to finance your first few months or you might build up your business slowly alongside a full- or part-time job and of course, you can also apply to your bank for a business loan. As most businesses are not profitable in the beginning, they will require you to put up some sort of security.
Get yourself organised!
Most entrepreneurs focus on working as hard as possible on the sales side to begin with so make sure you find enough time for the administration side of your business too.
Review your progress each month and keep on top of payments, espeically for things like tax.
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About the blog
Interesting bits and pieces about life in Sweden, including all-important song words.