Dynamic change the rule, rather than the exception

We work with Swedish companies of all sizes and from all kinds of industries, so our strategic relationship building must be tailored to suit the specific local stakeholders involved in each case. This means we can really become trusted advisors to Swedish companies that have an interest to grow their business in the Middle East.

In a region with vast geographical and cultural differences, there is no one-size-fits-all approach to engage and build relationships with local decision-makers. There may be a common starting point, in that the Swedish companies often reach out to us after identifying a business opportunity they want to pursue. However, due to the complexity and the varying ease of doing business in the region, each company’s journey is different and an individual approach must be strategically planned based on a proper understanding of the local markets and the stakeholders operating in them.

Our unique position, knowledge and presence in this region means we are often the natural choice for Swedish companies to consult with to realise their expansion ambitions. For instance, a lot of Swedish companies approach us with the generic idea of establishing a local company in Dubai, but they lack the underlying strategic plan for that idea. Without an evidence-based reasoning to support a decision, we would always advise companies to consider and evaluate all viable market entry options before embarking on a costly and resource demanding incorporation process. Recently we were approached by a Swedish company who wanted to set up in Dubai, but through joint strategic dialogue we identified that Abu Dhabi was in fact the best place for them. This is a great example of how Business Sweden supports Swedish companies to redefine their priorities and achieve their goals.

We also go beyond traditional management consultancy and strive to be proactive thought leaders and we have the ability to identify and highlight sector opportunities in the region for Swedish companies. This is possible because of our continuous mapping and analysis of key investment areas spanning multiple industries. These strategic insights allow us to match Swedish solutions with local needs, to spur business growth and ultimately grow Swedish exports.

In 2019 we worked on an exciting project for a large Swedish industrial manufacturing company with the ambition of growing their revenues within the Middle Eastern aftermarket sales segment. A key issue for the company was a lack of understanding of the actual market size for this specific segment. To help resolve this, the company approached Business Sweden for support. Through our experience and local presence, we jointly built a hypothesis driven framework to tackle the question of where, and how big, the market potential was in the region.

These hypotheses were explored further and validated through physical interviews with the Swedish company’s customers in five different countries in the region, along with a benchmark analysis of its main competitors in these countries. The outcome from this methodology was a data driven estimation of the total market size in each of the countries, as well as an understanding of the realistic market potential for the Swedish company. This analysis formed the foundation and catalyst for their continued expansion plan and strategy.

Business Sweden’s semi-governmental ownership was fundamental in delivering this project. Our unique government mandate enabled the company to acquire information from decision-makers that otherwise would have been beyond reach if approached directly by the company itself. In practice this meant collaborating with the respective Swedish embassies to utilise official channels to arrange for meetings and interviews with the right stakeholders.

Throughout the implementation of this project we had to account for, and adapt to different external circumstances, ranging from the shorter working hours during the Holy Month of Ramadan to the restrictive meeting procedures that followed the geopolitical tensions and specific events affecting the region’s oil and gas sector in the summer of 2019. This type of responsive and flexible approach is not unique to this project, but rather something we always have to consider and apply in our engagements in the region. There will always be external factors that we need to take into consideration for each project, but with our past learnings and experiences in the forefront of our minds, we can add extensive value for our clients and their businesses.

Strategic stakeholder relationships are critical in the Middle East and engagement of local authorities and ministries is key to success. The expertise and networks that Business Sweden brings into a project like this is highly valuable and something that Swedish companies really appreciate.

Change is never far away in the Middle East and the complexity of the regional business landscape is a challenge for everyone, regardless of whether you are considering entering the market or if you are already here, but it also makes our day-to-day work more interesting and rewarding. A good example of this is that a signed agreement is often seen as a “work in progress” and amendable by local actors while Swedish companies consider them written in stone. From a professional perspective, we are constantly educating and challenging Swedish companies about their perceptions, plans and strategies, as well as staying on top of what is happening on the geopolitical level. This naturally leads to increased interaction and closer working relationships with the companies we are supporting in the region. When we help them succeed in this dynamic environment, the outcome is truly rewarding.

From a personal perspective, living in a different country is often an adventure with plenty of new experiences and challenges. What the team and I miss the most from Sweden is of course our families and loved ones, but also you quickly come to miss the simple things in Sweden, such as the rain and yearly seasons.

Personally, I believe that Sweden and Swedish values are highly thought of in the Middle East, which makes it enjoyable to both live and work here. Swedes are generally perceived as trusted business partners with a high degree of professionalism, high-quality products and innovative solutions. In the end, this is what we hope to support more Swedish companies to build upon!