Since 1989 SACC-DC has offered a platform for developing U.S. – Swedish lucrative commercial ventures and professional opportunities through our network and business and social events. The SACC-DC Newsletter will help you stay on top of what’s happening in the Swedish-American business community and find the perfect opportunity to create new business connections in the greater Washington D.C. area and Mid-Atlantic region. |
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From the Executive Director
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Dear Friends
The Republican National Convention's first day got underway on Monday with speakers including former U.N. Ambassador Nikki Haley, and RNC Chair Ronna McDaniel, Donald Trump Jr. The Democratic National Convention concluded last Thursday 20 August with several ex-2020 contenders, like former New York City mayor Michael Bloomberg, and Pete Buttigieg, mayor of South Bend, Indiana. With that Presidential Election Season has officially started.
Meanwhile in the DMV area, the worsening of the economic outlook since the start of the coronavirus pandemic means a $2.7 trillion downgrade to the Congressional Budget Office’s projection of consumer spending, the largest contribution to the $3.9 trillion change in projected GDP over the 2020–2021 period. A projected decline in private investment accounts for $1.3 trillion of the total.
On the upside, and according to a recent historical analysis, stock market returns have been positive in 19 of the past 23 election years from 1928-2016, no matter which party has been in office. In fact, the S&P 500 has experienced an average return of 11.3% during an election year, demonstrating that the data doesn’t support the headline worry that one candidate or the other spells disaster for the stock market.
With that, I'll leave you to two more official summer weeks before Labor Day and the official Back to School season – we’ll tackle that one then.
Stay well,
Karin
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My name is Zerina Kurlancheek and I am a prior SACC-DC intern! I moved to Washington DC for a year at the Chamber right after having graduated with a Master in Business and Management from the Swedish Linköping university, and really enjoyed the rhythm of the city and SACC right away. Coming out of my masters program, I was certain accounting and financials was not for me, but during my year at the Chamber it made me realize how much you learn about an organization from the nitty gritty numbers. After a couple of happenings of “one thing leads to another”, and a whole lot of door openings and opportunities thanks to SACC, I ended up at the Swedish founded and owned InnSpire Intelligent Hotels in Stockholm. InnSpire develops and sells guest entertainment solution software and hardware to the hospitality industry all over the world, and entered the US in 2016. Since then, the emphasis on the Americas has grown stronger and stronger while learning by doing, and I moved back to Washington, DC full time in 2018.
When COVID hit the travel and hospitality industry in early spring like a force we could not have imagined, we found ourselves at a crossroad: either we would put up a steel wall and decide to tell our customers all fees and services are non-negotiable, or we would work with them from the very start to be the strategic partner we considered ourselves at our own cost. To be honest, the first was not really an option. The silver lining for us during this time has been to get closer to the core of our customers, which really is the people, as we have gotten the opportunity to listen and understand their situation – and they have had the time to talk to us. On the other side of that, we have been forced to make many tough decisions. We have during this time had to reduce all overhead in, what used to be the heart of InnSpire, Stockholm and say farewell of some of the earliest employees. We are today running an extremely lean operation, but with the upside of being closer than ever to our customers and hotels and on top of that, an extremely efficient and tight knit group. I am extremely thankful to have started out as an Accountant with InnSpire in Stockholm summer of 2017, to this summer have been given the honor to step up as VP of Finance for the group. And thank you SACC for letting me test my wings in all the different areas of business as a young grad!
I am hopeful about the future of travel, hospitality and socializing, and I cannot wait to see all our hard working hotels turn the corner!
-Zerina Kurlanchee, Vice President Finance, Innspire.
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We are happy to welcome our latest business memeber Heart & Homes for Youth. They are a n onprofit organization dedicated to empowering youth who have experienced abuse, neglect, mental health issues, homelessness, and other trauma, to make positive life choices and build brighter futures.
Heart & Homes for Youth offers programs throughout the state including group homes, therapeutic group homes, foster care, independent living, a program for pregnant and parenting teen mothers, and a workforce readiness program.The staff of child welfare professionals provides the youth with therapy, academic support, vocational training, case management, advocacy, and life skills training in a nurturing, homelike environment.
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TAKE THE OPPORTUNITY TO SPONSOR & PARTICIPATE IN THE SACC-DC OPEN
It is time to mark down the date for one of SACC-DC's most anticipated annual events, the 32nd SACC-DC Open. The classic tournament will be played at Westfields Golf Club offering an excellent opportunity for meeting new people and have a pleasant day on the beautiful golf course. Companies, members and sponsors will also have the opportunity to mingle afterwards, even if you are not an avid golfer!
The 32nd Swedish-American Chamber of Commerce DC Open – held on October 15, 2020 – is a tradition as old as the Chamber itself. This year, the re-branded event will be back with even more great opportunities to mingle with influential business leaders and clients in a relaxed outdoor setting while keeping prescribed physical distance. A golf tournament followed by a dinner, it is a day companies can gain exposure towards their most important clients or build new business relationships.
We are now offering companies the opportunity to take part in this great event by sponsoring the SACC-DC Open. It is also a way of supporting the continued work of SACC-DC thus contributing to our community!
You can find all the details about the sponsorship options here.
If you have any questions regarding the offerings or the event itself, please contact Executive Director Karin Hammar ([email protected]) or call our office to learn more.
COVID-19 related measures
SACC-DC is continuously monitoring the situation and will take any steps necessary to ensure the health and safety of anyone attending our events. Local regulations regarding public gatherings as well as the health and safety policies of our host premises will be followed.
If the event is cancelled, sponsors will receive a full refund
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Renew your individual membership for 2020 today!
SACC DC organizes many events throughout the year to give our members access to professional networking. Our annual flagship business events includes SACC Summit, the Young Professionals program and other corporate events, seminars and workshops. We also tailor trade missions for Swedish companies interested in the Greater Washington, D.C. area.
Whether an individual with a keen interest in or connection with Sweden living in D.C. or a company looking to establish new relationships, we can help you reach your next goal.
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CONSIDERATIONS FOR GOING BACK TO WORK
A webinar on how to bring employees back to work during and after the pandemic.Our panelists covered the practicalities of returning to work from a legal, insurance and essential business point of view. Panelists discussed how companies with employees returning to work in the US can potentially take advantage of US Debt Relief Programs to pay for their workforce during a prolonged slowdown in business activity. We also touched insurance aspects and how to manage risk during Covid-19.
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SWEDISH NIGHT LIVE WITH SECURITAS AND SPECIAL GUESTS
SACC DC Board Member Andrew Dunn hosted a fantastic Swedish Night Live. The host and his Special Guests entertained us with good conversations in one-on-one interviews. They shared very inspirational and amsuing stories. We also got to learn how to get down with the lingo in DC and Sweden in a fun game of slangs and proverbs. A bartender course with the amazing team Mikko where they showed us how to turn Påskmust into a summer cocktail! The event ended with a mingle session, which was a great opportunity to network during a time of social distancing.
Big thank you to Securitas for sponsoring!
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AI IS THE KEY TO A MORE RESILIENT ECONOMY IN THE FUTURE – WITH OR WITHOUT PANDEMICS
Artificial intelligence is going to play a central role in achieving a stronger economy, company growth and stability in society. Join us and Nordic West to explore, with the help of a distinguished panel, how we can achieve a more resilient economy through AI.
Olof Hernell, Chief Digital Officer of EQT and Kye Anderson, Head of Global Public Affairs at Peltarion shared their thoughts on these issues, moderated by Kristiina Helenius, CEO of Nordic West USA.
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Already in February, American global law firm and SACC-DC member Akin Gump offered extensive insights and services to handle the pandemic as it spread in the U.S. and internationally, not only for clients but also for the benefit of the general public in the form of a Covid-19 Resource Center . The online resource center tracks the pandemic in real time with a U.S. State and Local Response Map as well as in different regions of the world. While headquartered in D.C., Akin Gump's offices throughout the U.S. and around the world represents an impressive reach and relevance for international business. As early as in April, the Covid-19 Resource Center drew on the experiences surrounding European interventions such as the UK's Coronavirus Large Business Loan Scheme. The site shares thoroughly vetted data and updates on economic and societal developments in other regions as well and depicts compelling real life examples of international collaboration such as the Saudi German Hospital venture making extensive use of AI.
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Pillsbury’s experienced professionals are closely monitoring the COVID-19 outbreak, combining capabilities in crisis management, insurance law, cyber security, employment law, supply chain, and other areas to provide critical guidance to clients in an urgent and quickly evolving situation. They have built a library of information and resources, available for free to the public.
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Barnes & Thornburg LLP have created a dedicated information portal for specialized updates, with particular focus on tax and employment matters related to the COVID-19 outbreak.
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To offer insights from across Foley & Lardner LLP's many practice disciplines, they have set up a Coronavirus Resource Center. It contains resources providing key insights into how companies can navigate the multidisciplinary challenges brought about by the COVID-19 outbreak in the US.
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Sweden - World’s Best Countries For Women, 2020
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According to brand new report published by CEOWORLD Magazine, Sweden was ranked the best country in the world for women. Based on a survey of nearly 256,700 women around the world, CEOWORLD magazine has released its annual ranking of the Best Countries for Women. To produce the Best Countries for Women list, 156 countries were given scores across 9 attributes: gender equality, percentage of legislative seats held by women, sense of security, income equality, care about human rights, women empowerment, average years of education among women, women age 25 and older who are engaged in paid work, and women’s inclusion in society. If you compare the level of women’s empowerment around the world, measured in terms of security, justice, and inclusion, then you will find Scandinavian countries doing great.
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The Swedish Economic Model
In response to the ongoing pandemic, the Swedish government has chosen a different approach in comparison to the U.S. and Europe. Without a total lockdown being enforced, many Swedish schools and restaurants remain open. Although Sweden has experienced an 8.6% decline in GDP between April and June, the recession is considerably less severe in relation to the world. A decline of almost 10% in the U.S. and 12,1% in the Eurozone. The Swedish decline can be attributed to decreased international trade as a consequence of lockdown in other countries, as well as the individual responsibility in terms of social distancing, which was issued by the government. Despite Swedish fatalities surpassing neighbouring countries with great margin, the virus is now somewhat under control. Therefore, those who initially opposed themselves to the Swedish approach might reestablish their perspective as the benefits of a less severe economic decline will be apparent in the future. |
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Dear fellow SACC-DC Members,
Hope you are doing well.
Thank you for your continuous support of MIKKO during these trying times. As our thank you, we wanted to offer you a special summer discount for the months of July and August. Please present the attached card with your purchase to receive the special Fellow Chamber Member discount. You can show the card from your phone or print it out. Thanks.
As you might have seen, our patio is open, and we welcome you to dine-in. However, if you don’t feel comfortable doing so quite yet, we understand, and you can carry-out your favorite dishes as well. Thank you!
MIKKO Hours:
Monday – Friday 8:00am – 10:00pm
Saturday 9:00am – 10:00pm
Sunday 9:00am – 9:00pm
Please reach out if you have any questions. Thank you for your support and looking forward to seeing you at MIKKO!
Jonna Tuukkanen
Customer Experience Manager
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The Forces of Change in Business & Politics
SACC-USA is honored to welcome you to the SACC-USA flagship event, the Executive Forum in House of Sweden, Washington, D.C. on October 1, 2020.
The theme – The Forces of Change – will cover the latest on innovation and how revolutionary technologies are creating new ways of doing business. Considering the impact of the Covid-19 pandemic, it will also explore how this challenge has and will affect business and particularly trade. With election day just one month away, SACC-USA will have recognized political pundits and politicians debate and share their insights and predictions for the 2020 U.S. elections.
The event is approaching full capacity for the event and strongly recommend you register at your earliest convenience to secure a ticket! Read the full program here
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