Two thirds of the Swedish medium-sized businesses expect increased sales in 2010 compared with last year and 61 percent believe in increased profitability, show new results from a Grant Thornton survey. A lower proportion of Swedish companies, however, dare to invest, or invest in research and development compared to the global average.
Swedish companies show confidence in a number of economic parameters for 2010, according to Grant Thornton survey covering 7400 firms in 36 countries. In Sweden, 450 medium sized enterprises were interviewed.
Among other things, the entire 65 percent believe in increased sales in 2010 and 61 percent expect increased profitability. Despite the expected strong economic development,
Sweden is both below the EU average and the global average in terms of investment in buildings, machinery and factories, or to invest in research and development.
Restrained investment
Despite the fact that the Swedish companies are more optimistic about revenue growth and profitability than the average of companies in Europe and globally, it is consistently lower proportions of Swedish companies that plan for investments or increased spending within research and development than the EU average and the global average of firms.
- We see clearly in our study that Swedish companies are good with the economy and to adjust to prevailing conditions, but they also are much more cautious about the aggressive measures than companies abroad. It is important during a recession to also be able to look forward and seize the opportunities that exist to create competitive advantages, says Peter Bodin, CEO of Grant Thornton.
It is interesting to see that EU firms are not significantly optimistic about the future and yet they are higher in the expected investments, concludes Peter Bodin.
Cecilia Helland
About the Grant Thornton survey
The
Grand Thornthon study (International Business Report) has been implemented for 18 years. First with a European focus, but since 2003 it is a global survey. The interviews were conducted during October-November 2009 with 7400 executives of privately owned companies in 36 countries. In Sweden, 450 medium sized companies between 50-500 employees were interviewed.
The survey and compilation of the results were carried out by Experian Business Strategies Ltd.