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Swedish companies 'growing fast'

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10:49 CET+01:00
Sweden has the highest proportion of fast-growing companies in the world after the United States, India and Hong Kong, according to a new study from consultancy company Grant Thornton.

The study, carried out in late 2005, looked at over 7,000 medium-sized companies in 30 countries.

The United States topped the list for the second year running, with 39 percent of medium-sized companies classed as fast-growing. The figure for Sweden was 31 percent, meaning the country has climbed six places from last year's position. Sweden was best of all European countries, beating both Ireland and the UK.

The Swedish comeback is a result of strong domestic demand and increased investment, Grant Thornton said.

Fast-growing companies are classed as firms that have grown significantly more than average in terms of turnover and number of employees.

TT/The Local

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