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Small businesses are growing are strongest

Small businesses show fastest jobs growth

The Gothenburg region’s 100 largest companies employ nearly a fifth of the region’s workforce, but the figure has declined over time as smaller companies grow at a faster pace. These are some of the findings in a new report, Företagande, from Business Region Göteborg.

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One of the report's chapters examines the structure of the region’s business environment.

In total, for 2017 there were just over 108,500 companies in the Gothenburg region. The total number of people employed in the region was around 490,500 people, which is 2 per cent more than one year earlier. The majority of the people employed, around 70 per cent, work for a privately owned company.

During the past year, the majority of the new jobs were created in the private sector. The rate of job growth is fastest among small companies (+2.8%), while larger companies with 20-199 and >200 employees created the greatest number of jobs – around 4,000 (+2.0%) and 2,600 (+1.8%) respectively.

Growing diversity in the business community

The 100 largest companies employ nearly every fifth person in the Gothenburg region’s workforce, and over time their share of the total workforce is gradually decreasing.

“This trend is a sign of greater diversity in the region’s business environment. The small companies are showing good growth both in terms of employment and turnover. It’s important that we have this creative entrepreneurship in the region. It’s all the specialised, niche start-up ideas that fill the gaps in the market,” says Peter Warda, analyst at Business Region Göteborg.

Gothenburg's largest companies

In terms of the number of employees, Volvo Cars is the region’s largest employer with nearly 13,200 employees. Next on the list is Volvo Trucks, followed by Chalmers University of Technology and bearing maker SKF.

Among the companies with their head office in the Gothenburg region, the Volvo Group reported the highest turnover - it also topped the list for Sweden overall. Volvo Cars reported the second highest turnover in the Gothenburg region, followed by SKF and the Stena Sphere.

Volvo Group also tops the Gothenburg region’s list for highest market value. SKF is second followed by investment company Latour and real estate companies Balder and Castellum.      

 

FACTS

Largest companies in the Gothenburg region by number of employees

  1. Volvo Cars - 13,175
  2. Volvo Trucks – 4,275 (Volvo Group – 12,300)
  3. Chalmers University of Technology – 3,225
  4. SKF – 2,400
  5. Postnord – 2,375
  6. AstraZeneca – 2,175
  7. Samhall – 1,925
  8. Ericsson – 1,675
  9. Essity – 1,425
  10. SAAB – 1,325

Source: Statistics Sweden SCB

 

Largest companies in the Gothenburg region by turnover (SEK millions)

  1. Volvo Group - 302,182
  2. Volvo Cars - 183,994
  3. SKF - 72,787
  4. Stena Sphere - 50,950
  5. Carl Bennet - 45,070
  6. Bilia - 23,944
  7. Dunross & Co - 15,629
  8. Capio – 14,072
  9. Ekman & Co – 12,714
  10. Balder – 10,912

Source: Veckans Affärer / Business Region Göteborg

 

Largest companies in the Gothenburg region by stock market value

  1. Volvo Group 324,453
  2. SKF 77,803
  3. Latour 61,776
  4. Balder 35,172
  5. Castellum – 35,106
  6. Getinge – 27,522
  7. Wallenstam – 23,298
  8. Bilia – 8,352
  9. Collector – 7,034
  10. Platzer – 6,056

Source: Avanza

 

The Företagande report is only available in Swedish. More facts and statistics are available here.

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