SHARE
COPY LINK

BUSINESS

Big surge in new business startups

The number of new businesses in Sweden increased 16.4 percent in the first five months of 2010, compared to the same period last year, new statistics have revealed.

For the first time in years, the number of new businesses grew in all of Sweden’s counties, according to statistics compiled by business software company Visma Spcs from the Companies Registration Office (Bolagsverket).

“It is gratifying that the number of new businesses is increasing so much,” said Visma Spcs CEO Rolf Dahlberg. “This is proof of the positive developments that began last fall. The figures are even a bit better than the forecast we made for the full year. That is exactly what the country needs.”

In May alone, the increase was 46.9 percent compared with the same period last year. The bulk of the increase came from newly registered limited companies (aktiebolag). Last month, 98.2 percent more new companies were registered than in May 2009.

The reduced requirements for capital investment in companies starting on April 1st could be part of the reason behind the increase. For the first time in years, all counties reported a positive development in new businesses.

However, the regional differences are large. In May, the growth of new businesses in Jämtland was highest, more than doubling compared with last year, followed by an 88.4 percent increase in Södermanland and 82.9 percent rise in Västmanland.

In all of Sweden, 6,030 new businesses were established, mostly limited liability companies, sole proprietorships, partnerships or limited partnerships. That compares with 4,104 in May 2009.

Since January, 27,093 new companies have registered with Bolagsverket, compared with 23,283 in the same period last year.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

ENVIRONMENT

Sweden’s SSAB to build €4.5bn green steel plant in Luleå 

The Swedish steel giant SSAB has announced plans to build a new steel plant in Luleå for 52 billion kronor (€4.5 billion), with the new plant expected to produce 2.5 million tons of steel a year from 2028.

Sweden's SSAB to build €4.5bn green steel plant in Luleå 

“The transformation of Luleå is a major step on our journey to fossil-free steel production,” the company’s chief executive, Martin Lindqvist, said in a press release. “We will remove seven percent of Sweden’s carbon dioxide emissions, strengthen our competitiveness and secure jobs with the most cost-effective and sustainable sheet metal production in Europe.”

The new mini-mill, which is expected to start production at the end of 2028 and to hit full capacity in 2029, will include two electric arc furnaces, advanced secondary metallurgy, a direct strip rolling mill to produce SSABs specialty products, and a cold rolling complex to develop premium products for the transport industry.

It will be fed partly from hydrogen reduced iron ore produced at the HYBRIT joint venture in Gälliväre and partly with scrap steel. The company hopes to receive its environemntal permits by the end of 2024.

READ ALSO: 

The announcement comes just one week after SSAB revealed that it was seeking $500m in funding from the US government to develop a second HYBRIT manufacturing facility, using green hydrogen instead of fossil fuels to produce direct reduced iron and steel.

The company said it also hoped to expand capacity at SSAB’s steel mill in Montpelier, Iowa. 

The two new investment announcements strengthen the company’s claim to be the global pioneer in fossil-free steel.

It produced the world’s first sponge iron made with hydrogen instead of coke at its Hybrit pilot plant in Luleå in 2021. Gälliväre was chosen that same year as the site for the world’s first industrial scale plant using the technology. 

In 2023, SSAB announced it would transform its steel mill in Oxelösund to fossil-free production.

The company’s Raahe mill in Finland, which currently has new most advanced equipment, will be the last of the company’s big plants to shift away from blast furnaces. 

The steel industry currently produces 7 percent of the world’s carbon dioxide emissions, and shifting to hydrogen reduced steel and closing blast furnaces will reduce Sweden’s carbon emissions by 10 per cent and Finland’s by 7 per cent.

SHOW COMMENTS