- Sweden has the lowest use of external finance in Europe: only 22% of firms rely on it to fund investment
- Only 3% of Swedish investing firms received grants, subsidies or concessional loans, the lowest share in the European Union
- Even so, investment activity remains strong, with 91% of firms investing – well above the EU average
Swedish companies rely more on internal financing sources than any of their European peers, according to new data from the European Investment Bank (EIB) Group’s annual Investment Survey (EIBIS). While three-quarters of all investment is financed from within the company, only 22% of Swedish firms used external finance for investment in the last financial year, the lowest share in the European Union.
Sweden also stands out for receiving very little policy support for investment. Only 3% of Swedish firms that invested received grants, subsidies or loans on favourable terms. This reflects Sweden’s unusually limited use of public support instruments compared with the rest of Europe.
As a result, firms are less resilient when market conditions tighten, as more investment must be funded from their own balance sheets. The share of finance-constrained firms has risen from 7% to 10.7% in 2025, Sweden’s highest level since 2019.
Despite this, investment activity remains strong, with 91% of firms reporting investment and companies continuing to prioritise capacity expansion and new product development.
"Swedish firms continue to invest at a remarkably high level, even in a more uncertain environment. Their strong focus on innovation and digital transformation is key to maintaining competitiveness. As Europe’s long-term investment bank, we stand ready to support Swedish companies in turning these ambitions into sustainable growth", said EIB Vice-President Karl Nehammer.
Sweden also stands out in other areas of the survey. Sweden continues to perform strongly in digital transformation and the green transition. Two-thirds of firms use advanced digital technologies, and 47% report using generative AI, compared with 37% across the European Union. 67% of firms set and monitor their own emissions, the highest share in the European Union.
Key findings of the Investment Survey
Financing and investment
- Sweden has the lowest reliance on external finance in the European Union: 22% (European Union: 42%)
- Only 3% of investing firms received grants, subsidies or loans on favourable terms (European Union: 16%)
- 75% of investment is financed internally (European Union: 66%)
- 91% of firms invest (European Union: 86%)
- Finance-constrained firms have risen from 7% to 10.7% (European Union: 6.1%), the highest level since 2019
Digitalisation and innovation
- 47% of firms use generative AI (European Union: 37%)
- 66% use advanced digital technologies (European Union: 51%)
- 40% invest in new products or processes (European Union: 32%)
Skills and trade
- 79% struggle to find skilled staff (European Union: 79%)
- 42% of exporting firms face tariff-related obstacles (European Union: 48%)
- 85% must comply with differing rules across EU Member States (European Union: 62%)
Climate and gender diversity
- Sweden has the highest share of firms in the European Union setting and monitoring emissions targets: 67% (European Union: 47%)
- 91% have taken action to reduce greenhouse gas emissions (European Union: 92%)
- 73% invest in energy efficiency (European Union: 67%)
- 37% report at least 40% women in senior management (European Union: 25%)
Download the full report: Investment Survey Sweden 2025.
Background information
EIB
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, the EIB finances investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.
The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.
All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in the organisation’s Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.
Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB's financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.
The EIB Group is a key provider of finance and advisory in the critical raw materials sector. Through its new CRM strategic initiative, it aims to invest €2 billion annually across the entire value chain, supporting the European Union’s Critical Raw Materials Act and ensuring a secure, sustainable supply.
High-quality, up-to-date photos of the organisation’s headquarters for media use are available here.
EIB Investment Survey
The EIB Group Investment Survey (EIBIS), conducted annually since 2016, is a unique survey of approximately 13 000 firms across all EU Member States, with an additional sample from the United States. The survey collects data on firm characteristics and performance, past investment activities and future plans, sources of finance, financing issues and other challenges, such as climate change and digital transformation. The EIBIS uses a stratified sampling methodology and is representative across all 27 EU Member States and the United States, as well as across four categories of firm size (micro to large) and four main economic sectors (manufacturing, construction, services and infrastructure). The survey is designed to build a panel of observations, supporting the analysis of time series data. Observations can also be linked back to data on firms’ balance sheets and profit and loss statements. Developed and managed by the EIB Economics Department, the survey is conducted in collaboration with Ipsos. More background and technical details can be found at www.eib.org/eibis.