Dear Friends,

I hope this newsletter finds you safe and well despite the uncertain times we live in, 11 days from the election and amidst a COVID surge.

Predicting the election result has become a cottage industry though predicting subsequent business outcomes less so. Esteemed financial services company Raymond James nevertheless predicted that Democratic control would likely do away with President Trump’s deregulatory policies and put a greater emphasis on regulatory policies to address climate change which could put the spotlight on clean tech companies.

A split government, with a President Biden in the White House and a GOP-controlled Senate, would likely mean budget battles and gridlock on legislation for health care, financials, telecom, tech and energy. But an Infrastructure bill would be possible.

Material new stimulus is likely whether Biden wins or Trump remains in office, though it would probably come sooner and in a lower amount under Trump. Either way, “the market has positioned itself for more fiscal stimulus”, Raymond James noted.

Most of us do not spend our lives forecasting the future, but any decision we make depends, in part, on our implicit predictions. From whom we vote for to whether we carry an umbrella out the door all reflect our best guesses about the future: what a political candidate will do if elected or the chance of rain that day.

As Winston Churchill said, it is always wise to look ahead, but difficult to look further than you can see.

Be well,

Karin

P.S. We continue our market access virtual trade missions and webinars for members to stay connected and engaged; don’t forget to renew your membership for 2021 here.

Spotlight - YER USA

Founded in 1987, YER is an international recruitment agency with offices in the United States and The Netherlands. From their locations across the U.S. they cover the entire U.S., Canada and Mexico, supporting European companies with their talent acquisition needs. Gunilla Girardo is heading up YER’s Scandinavian Desk. YER’s team of European/Americans, who have been in the U.S. a long time with a combined vast industry experience, knows how to navigate the vast fragmented US market as well as their home markets in Europe.

During the ongoing pandemic, Gunilla explains that YER has adapted the recruiting process to be more or less virtual.

"Many of the hiring managers that we work with are based overseas and don’t currently have the benefit of conducting in-person interviews with candidates due to travel and visa restrictions. Therefore, we as executive recruiters are even more needed and involved in every step of the recruitment process. The pandemic hasn’t affected YER’s operations much at all. And just because unemployment is higher than in the beginning of the year, does not make it easier to find the right candidates,” she says.

At lot of industries are in fact doing quite well in spite of (or as a result of) the pandemic, including manufacturing, AI, medical technology and e-commerce to name a few.

“We are seeing a steady increase of new assignments across a broad range of industries and are happy to be back at pre-COVID levels in terms of number of searches.”.

When it comes to young people entering the job market, many are struggling to land their first job, especially those who have graduated in 2020 during a global pandemic. At the same time, young people have a lot to offer in the workplace.

“It’s extremely important that Generation Xers and Baby Boomers understand what matters to their future leaders, and here mentoring comes into play,” says Gunilla. Adding that: “Millennials are looking for companies that invest in their growth and development. They want to be mentored and deem it crucial for their success. They are looking for mission driven companies with a diverse workforce and empathetic leadership who promote collaborative environments while moving away from the old rigid hierarchical organizational models.”.

In Gunilla’s view it is very important that we recognize this, show empathy, but also celebrate all the innovation and transformation that’s coming out of this crisis and make room for more recent graduates. “We don’t have all the answers yet, but we’re developing the best practices as we go along. It’s not where we currently are that matters. It’s where we’re going next that is important.”

Straight after the presidential election, SACC-DC will host a post-election analysis webinar together with a panel of experts from different sectors within politics. They will help us interpret and understand the election results and the entailing ramifications in the near future!

The panel includes Kevin Holst, Jiore Craig, Matt Corridoni as well as a yet to be announced member of the Biden campaign.

More information including time and sign-up link is coming soon.

On November 12, HAYPP Group will host a webinar in collaboration with SACC-DC and featuring a guest from Swedish Match. The topic will cover consumption, e-commerce, consumer base research and more!

Webinar Opportunities: Sustainability Series 2020

Renewable energy, green financing, bio-based materials, circular economy, sustainable logistics etc - sustainability is a highly popular topic!

We are currently looking for sponsors and hosts to our Sustainability Webinar Series. There is a great interest in sustainability in our Swedish-American network. Are you and/or your organization a sustainability-enthusiast and wants to update us about the latest innovations within this field? Do not hestitate to host, sponsor and/or participate in a webinar, dicussing your topics with other experts and business leaders!

Please contact Business Associate Thea Nguyen at Thea.nguyen@sacc-dc.org for further information!

Welcome Our New Member - Beyer Volvo Cars of Falls Church!

Beyer Volvo Cars of Falls Church is a Volvo car dealership purchased in 1973 by Don and Nancy Beyer. Starting off with selling just one car per day, they have now retailed over 50,000 Volvos in the past four decades, all the while maintaining a sense of a family business. The second generation Beyers, including Representative Don Beyer Jr., is now giving way to the third generationen, while continuing to provide word-class service as a Volvo dealer!

Renew your individual membership today!

PREVIOUS WEBINARS

The SACC-DC team is looking forward to hearing from you at info@sacc-dc.org to discuss further!

Since August, Amazon has been confirmed to launch in Sweden which is expected to have an immense impact on the Swedish market. Consumers can look forward to lower prices and while the main competitors may need to revise their pricing and supplies, smaller competitors could benefit from Amazon’s entry by gaining visibility both within Sweden but also internationally. The reasons behind Amazon’s decision to enter the Swedish market, which is a fairly small market compared to other European countries, may include factors such as digital maturity, an increasing Swedish interest in e-commerce and discount trade, and a current lack of dominating online marketplaces in the country. The main competitors will be inclined to adapt to the modern technologies, innovations and automation that Amazon makes use of - in order to maintain competitiveness. Regardless of how the current market responds, it wouldn’t surprise if Amazon has gained 20-30% of the Swedish e-commerce market in 10 years, according to Patrik Settlin, CEO at Litium, a Swedish platform for e-commerce. 

Amazon is also represented in the D.C. area by SACC-DC member AWS (Amazon Web Services). Arlington, VA was selected for AWS's second headquarters, with many job opportunities and an impressive looking campus. Amazon's footprint in Sweden and particularly in the city of Eskilstuna where Amazon is establishing a 161,000 square feet warehouse, remains to be seen.