As 2024 comes to a close, we can conclude that it has been a challenging but also instructive year for Sweden's small businesses. With high interest rates, rising costs and changing customer behavior, it has been necessary to adapt to keep up with developments. At the same time, there have been glimmers of light in the form of new opportunities thanks to digitalization and an increased awareness of the importance of local presence. Here is a look back at the most significant trends in 2024 and some thoughts on what might be useful to take into 2025.

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Trends that shaped 2024

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Continued economic challenges
High interest rates and the general economic situation put pressure on entrepreneurs from several quarters and made 2024 a tough year for many. Particularly in sectors such as construction and trade, many entrepreneurs struggled with reduced demand. At the same time, we can look ahead with more optimism than in years. Inflation has stabilized and interest rates have started to fall. This will benefit businesses both in terms of reduced financing costs, but also increased demand as the economy starts to recover.

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New technology brings new opportunities
AI went from being a trend to actually becoming a tool that helps entrepreneurs. Today, there are a range of AI tools that can help business owners automate tasks, streamline processes and even create materials. For business owners, this not only means new opportunities, but AI can help free up both time and energy in a busy day.

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Sustainability continues to matter
In 2024, customers continued to prioritize businesses that take responsibility for sustainability - both socially and environmentally. For small businesses, this meant that a clear sustainability strategy was not only a way to do good, but also a business necessity. Working with sustainability is also a way to secure the company for the future, as it is likely that there will be higher demands on smaller companies in the future linked to sustainability work.

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External events favored local
A world of trade threats, unrest and increased customer awareness led to the return of local becoming a trend in the past year. Customers came to value face-to-face meetings and businesses with local roots. This made social media, storytelling and community presence important tools for building trust and loyalty.

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Things to consider for 2025
Although 2025 looks set to be a better year for Sweden's entrepreneurs, lessons can be learned from the past year to build for the future.

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Build buffers and be flexible: Now that times are hopefully getting better, it's a good idea to start building up your company's buffer. This way, you can be better prepared if times get tougher again.

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Make use of new technologies if you don't already: AI and other digital solutions can help you streamline your business, and if you haven't tried the tools that are now available, now is a good time to do so. It can open up new opportunities for your business and free up your time to focus on developing your business.

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Be proactive: As customers start to come back, it's good to plan ahead to gain market share throughout the year. So do your research
and start approaching customers instead of waiting and hoping they come to you.
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Think about IT security: The threat of hacker attacks and fraud is growing, and both businesses and individuals are increasingly affected. Is your company's IT security not fully in place? Then 2025 is the year to act! Take control and read more at säkerhetskollen.se.

2024 has shown that small businesses are resourceful and resilient when times get tough. By staying close to customers, taking advantage of technological opportunities and investing in sustainability, you can set yourself up for success in 2025.