In this article, we will discuss how Swedish Translation can help companies do business in the Swedish market.
So, if you’re planning to be a part of the Swedish business market, first, you’ll have to get their attention.
Expanding into new markets isn’t simply about selling products that are in high demand or satisfying a need. A large part of your success depends on adapting your business to the marketplace.
Even with more than a third of internet users not being native English, research from Forrester Research shows that website users will stick around longer on a site if the content is written in their language of choice.
So how can you cater to the Swedish market if Swedish is not your local language?
And the solution is Swedish Translation and localization.
Localization is the process of making your site fit a particular market. The language used in your content, the pictures of individuals, pop-culture references, or the common symbols can give the impression that your website was designed with an intended audience.
Let’s discuss how Swedish Translation agencies can help you do business in the Swedish market.
Table of Content
- Swedish Translation Will Increase Your Sales
- Swedish Translation Will Offer A Competitive Advantage
- Swedish Localization Offers a Native Appeal
- Swedish Translation Will Strengthen Your Global Presence
- Swedish Translation Will Adjust Your Business Presence
- Benefits of Doing Business In Sweden
- Risks of Conducting Business In Sweden
Swedish Translation Will Increase Your Sales
The preferences of users for their language in Europe are being thoroughly studied. The results indicate that 90% of people choose to use a website version that is their native language, no matter whether they are fluent in English.
Most users claim they will never engage with a company that doesn’t have content in their language of choice. Similarly, translating your digital platforms into Swedish will help cater to the Swedish people.
You will be able to attract new customers, and they will spend more time on your website, ultimately increasing the dwell time. Eventually, it will lead to more traffic and conversions and will increase your overall sales.
Swedish Translation Will Offer A Competitive Advantage
Despite the advantages of Swedish regionalization, competition might be unable to capitalize on these advantages. Content localization gives you an edge over companies that are trying to compete in your space but aren’t yet able to change their content.
If your competition does have a translated site, they’re likely to be the ones earning the company, even if you don’t. You can update your content marketing strategy to increase your market share.
Swedish Localization Offers a Native Appeal
Some companies are so efficient in localization that it’s surprising to discover they’re not located in your country of origin.
The more you can integrate into the country’s cultural traditions, from imagery to linguistics, the more chances you have of appearing as if you’re part of their business community.
Swedish Translation Will Strengthen Your Global Presence
If you’re operating within Sweden, localization could put you in an international position. It’s not an easy task to take an enterprise across the world, and investing in localization proves that you’ve got the business expertise to adapt to a changing market.
Once you’ve done it, you’ll be able to repeat the feat.
Swedish Translation Will Adjust Your Business Presence According To The Market
Utilizing skilled translation companies ensure your website is adjusted to Swedish market requirements. Instead of tackling the Translation word-for-word professionally, professional Swedish translators consider how people speak and blend language with culture to provide the desired outcomes.
Now that we have discussed how Swedish Translation can enable an intense market penetration for businesses. It’s time to shed some light on the advantages and disadvantages of business in Sweden.
Sweden has been ranked as the fourth-highest-performing economic system in Europe and is frequently ranked in the top ten most efficient economies worldwide.
Sweden is renowned for its business-friendly environment, international competitiveness, diversity of abilities in the language field, and commitment to innovation. The majority is because of the nation’s open market economy and well-developed education system.
Sweden has an estimated population of 10 million and a gross domestic product of over 560 billion (PPP) and offers its residents an extremely high standard of living.
The knowledge of Sweden’s regional laws, regulations, and regulations can also bring the challenges of working with local contacts who know the rules and regulations, which is crucial for expanding your business.
Benefits of Doing Business In Sweden
• The Ease of Doing Business
Sweden is a thriving, stable, secure economic system, making it a desirable place to invest foreign capital. Sweden is ranked 10th out of 190 countries for ease of doing business globally.
Sweden provides a range of practical procedures that make forming a business and operations more efficient, including electronic filing systems for incorporation taxation, property transfer permits, and much more.
This Scandinavian nation has the most affordable corporate tax rates in the EU. Sweden permits an income tax exemption for interest. It also does not have formal, thin capitalization rules.
• Open Economy
Sweden has an open economy that encourages the development of new ideas and competitiveness. The government is proactive in investing to boost growth in the biotechnology and food processing industries.
The government is willing to trade and works hard to help grow markets, such as Brazil, the Baltic states, and African nations.
Automobiles and petroleum products are the main exports of the country. The other top exported products include medicines, automobile parts, medical equipment, and communications devices.
• Innovation Hub
Sweden’s status as an innovation center is evident from its high ranking on the Global Innovation Index, European Innovation Scoreboard, and the Bloomberg Innovation Index.
The government encourages growth and innovation through various organizations and infrastructure investments.
More than 3 percent of Sweden’s gross domestic product goes into research and development, and Sweden is renowned for its facilitation of collaboration across borders.
Biotechnology, pharmaceutical development, and digital tools are just a few areas in which the Swedish industry has made significant advancements. Sweden is also a leading biomaterials company in medical imaging, visualization, and regenerative medicine.
Hotspot For Startups
Sweden is a hotspot for startups. The two major cities of Stockholm and Gothenburg are the home of major tech firms.
Sweden is second after Silicon Valley for having more than a billion dollar company with its headquarters in the region, per capita. Spotify, along with Skype, were founded as companies in Sweden.
Since it is a smaller market, Sweden can be a great area to test new products and concepts before introducing them to the larger markets.
Risks of Conducting Business In Sweden
Now that we have discussed the benefits of doing business in Sweden, we must examine the risk of conducting business in Sweden.
• Individual Tax Rates Are Very High
Sweden offers a wide range of social service programs, including the countrywide health program and other benefits, like generous parental leave, which tax-paying individuals fund.
Hence, one has to pay a lot of taxes to avail of these services. High Taxes could make it hard to attract people that aren’t from Sweden to come over here and conduct business.
• Complex Labor Laws
Sweden enforces strict labor laws offering strong workers protections, including collective bargaining agreements among specific labor unions.
Sweden is not a country with laws that mandate the minimum wage. However, trade unions could have agreements with their members that define the minimum wage for particular industries and jobs.
Employers must adhere to specific formal guidelines when they terminate their employment. It isn’t easy, and it is helpful to draw on local knowledge on these issues.
• Cost of Living
Sweden has a very high living expense, particularly in areas that are a hotspot for innovation, like Stockholm and Gothenburg.
Living expenses in Sweden are calculated to be 2 percent less than that of the United States. But because the country’s tax rate is very high, it’s a fact that the price of living is higher.
• Weather Concerns
The long Swedish cold winters could be brutal, based on the region. The average temperatures for the southern areas are moderate.
However, the average temperature ranges between 23 and 35 degrees Fahrenheit. They also have the possibility of falling to less than 5 degrees Fahrenheit.
Certain people may have more difficulty getting used to the darkness. Stockholm can only enjoy about 6 hours of sunlight when it is dark.
This article discussed how Swedish localization could help companies do business in Sweden. Moreover, we shed some light on the benefits and risks of conducting business in the Swedish market so that organizations can do a SWOT analysis and make better decisions for themselves. Nonetheless, if a firm decides to expand into the Swedish market, then Swedish Translation of their websites will surely help.