This year too, Sweden ranks first in the EU in terms of how favorable the business and entrepreneurial climate is, while strengthening its position in Europe in general. This is shown by the Private Business Attractiveness Index, a report by PwC that measures the conditions for private business and entrepreneurship in around thirty European countries.
The report, produced for the third year in a row, shows that Sweden rose from fifth place in 2021, with a total score of 60.1, to second place this year with a score of 72.1. Only Switzerland has a stronger index, meaning Sweden tops the list of EU countries, closely followed by Germany. At the same time, Great Britain has slipped from second place to sixth place this year.
– It is very pleasing to see Sweden continue to climb the rankings and strengthen its overall index. It shows our opportunities and strengths as an entrepreneurial nation, which we must harness together. Innovative power is not least in sustainable development. At the same time, there are clouds of concern, including a decline in new entrepreneurship and attracting talent, says My Lidén, an accountant and consultant for entrepreneur-led and privately owned companies at PwC Sweden.
Sweden ranks very high in sustainability and climate
Sweden is in the top ten in eight categories, as well as in the health and sustainability and climate categories. Our strengths in the healthcare sector include a resilient healthcare system with a high number of doctors per citizen, for example, a transition to a more fossil-free state and a reduction in carbon dioxide emissions that contribute to Sweden’s high ranking in sustainability and climate. The fact that Sweden has a well-functioning environment for startups is also positive from a business perspective.
– Sweden’s strength is that we are strong in many areas that are important for the growth of companies. But if I’m going to highlight some challenges, the index shows, it’s in two areas: macroeconomics and technology and infrastructure. On the latter, Sweden ranks low in terms of cyber security and sustainable supply chains, which could certainly make companies reluctant to locate here, says Andreas Strahn, entrepreneur-led and tax consultant at private firm PwC Sweden.
About the report
PwC’s Private Business Attractiveness Index 2023 is a weighted index where 64 different data points within nine overall categories are weighted differently. Values from each of the nine categories are included in a total index with a maximum score of 100.
A total of 33 countries (30 in Europe, 3 in Africa) were included in the report, of which 17 improved their index in this year’s survey. The report’s insights are meant to provide guidance to business leaders, governments and decision makers on how they can improve the conditions for doing business in their respective countries and thereby stimulate sustainable growth and development.
The report can be read here: PwC’s Private Business Attractiveness Index 2023.
For more information
my lidon, Responsible for entrepreneur-led and privately owned companies, PwC Sweden
070-929 28 92
Andreas Strahn, responsible for entrepreneur-led and privately owned companies, PwC Sweden
070-929 14 47
Jenny Liljeqvist, Press Manager, PwC Sweden
070-818 82 55
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