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Percentage of jobs per sector in 2003. Source: New Facts and Statistics, Business Plan for Sweden, Nutek. No. 1 December 2005. Industry in Sweden yesterday and today Figure 4. Average annual productivity growth 1995-2003 It is important to be competitive in an international perspective to promote development, create more job opportunities and generate growth. Another important question to ask is: Where will the new jobs come from and how will this happen? Today we have a good understanding of what has happened to the economy over the past decade, what it looks like today and what may take place over the next decade. We do not, however, know everything about the future. This would be impossible. The future will be shaped by how we act today and as we move forward based on our understanding of the priorities for the future. We have some suggestions regarding what might be worth pursuing in order to be better prepared for the future. Care sector, 17% The state of Swedish companies is good. They are competitive in the international arena, they are highly productive and are demonstrating good growth. At the same time, the globalisation trend is considerable and in sectors particularly exposed to international competition, such as “technology companies” and “medicine and life sciences,” growth and productivity are high. For sectors that focus on domestic markets, such as the construction industry and labour-intensive services, growth and productivity are lower. Labour-intensive services Construction industry Care sector Consulting Education Industry as a whole Infrastructure services Raw materials and processing industry Commerce Medicine and live sciences Technology companies Consulting, 5% Education, 11% Government agencies and organisations, 7% Unknown, 2% Labour-intensive services, 9% Raw materials and processing industry, 7% Infrastructure services, 11% Technology companies, 12% Medicine and life sciences, 1% Construction industry, 6% Commerce, 12% -1 0,0 1,0 2,0 3,0 4,0 5,0 6,0 7,0 8,0 Per cent NB: Labour productivity growth is defi ned as the change in volume in the value added divided by the change in the number of hours worked. Source: SCB Nutek’s analysis
Business in the future It is also clear that a new development trend is affecting the growth of industry, since much of the growth in employment is in the service industries. Furthermore, many manufacturing companies are increasingly regarding themselves as service companies. The growth of employment in the Swedish service industries is, however, still weak in comparison to other countries. Growth in Swedish industry is still associated with development of older and more mature companies. New businesses and small and medium-sized companies have not developed to the same extent. The business climate in Sweden is more conducive to support for the growth of established structures rather than the dynamics of emerging industries and small and mediumsized companies. It is the experience of more and more small companies that government rules and requirements are increasingly impeding their growth. The atmosphere among Swedish businesses is very dynamic. It is clear that new enterprise is on the rise and that more and more individuals are considering launching new ventures. There is also a positive link between the creation and closure of places of work. In new emerging sectors there is considerable turbulence and companies are reinventing themselves. This is particularly obvious in the consulting and labour-intensive service sectors. We still need to close the gap between peoples’ desire to start a company and their ability to actually support themselves as entrepreneurs. The number of people actually supporting themselves as business owners in Sweden is lower today than in 1995. An empirical analysis of Swedish companies shows that there are three clear challenges for Sweden: • Sweden has not fully unleashed the job-creating power of the service society. • New companies as well as small and medium-sized ones are demonstrating the weakest growth in Sweden, which means that the country continues to be dependent on growth in older, mature sectors. • Despite the increase in new enterprise, Sweden needs greater incentives for individuals to choose to develop businesses and support themselves as entrepreneurs. When entrepreneurs and individuals who understand the long-term competitive potential of business have the chance to speak out, there are a number of common factors in their views on the future. The challenges facing Swedish companies can be categorised into fi ve issues: • Internationalisation will continue. Sweden’s economic future will involve exploiting the possibilities afforded by internationalisation. Sweden has the potential to do this, but this means that Sweden in the future needs to focus even more on transparency and the ability to change and adapt. • Competence. Almost all interviews and seminar discussions present the same picture: gaps in competence and the lack of knowledgeable customers with high expectations is a major threat for Sweden in the long term. • “Servicisation” of more and more sectors of the economy. The “servicisation” trend shows that there is a different type of development in play on the market than in the past, where the focus is on the importance of business development.
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