Sweden’s Entrepreneur-Friendly Business Plan

Sweden welcomes new business with open arms and a hot mug of cocoa.

You may have heard about various business inoculation projects around the world, particularly in the US. Sometimes, governments take it upon themselves to try to foster a pro-business environment and improve local economies. In the US, this usually comes in the form of tax-free business zones, which allow businesses to get on their feet while they don’t have to worry about deductions. There are many different ideas around the globe when it comes to trying to draw more people into business. Today, let’s look at Sweden’s.

Sweden is known for very high income taxes, and a large social safety net for citizens who find themselves in financial rough spots. In a way, their business plans do follow a similar model. Swedish employees are allowed to take six months off of work to work on starting a business. The “Right to Leave to Conduct a Business Operation” Act enshrines this right into law. This is actually just one of the rights afforded to Swedish workers, as they can also take time off to study or raise a family. The right to leave employment for business purposes is available to any worker of at least six months.

The “Swedish model” for many particular concepts and institutions have long been the subject of debate outside Sweden. Whether or not the Swedish model is only good for Sweden, or applicable to other countries, is still being discussed. However, there is something to be said, as the “Right to Leave to Conduct a Business Operation” Act is one of the contributors to Stockholm’s current status as Europe’s start-up capital, according to Business Insider.

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5 years ago