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What The Business and Digital Future of Switzerland Holds?

Switzerland has a long history of striving for being the maker of its own destiny, economy, and prosperity. Switzerland has succeeded in developing a unique business environment that is both - flexible and stable in an increasingly connected and complex world.

With each era of industrialization, Switzerland quickly adapted its economic, educational, and even tax system in order to set up a reliable and agile environment for its entrepreneurs to do business and of course, to attract investors, talents, and the necessary capital. This mindset and strategy led to the cultivation of an ecosystem of innovation that is well placed to attract and retain the world’s best talents in any sphere.

The New Ways Of Thinking

The digital age is a highly creative one, offering the companies and the whole industries an unprecedented opportunity to actively shape their future. Switzerland has to embrace the disruptive forces of the modern world to succeed in the digital era.

Today’s economy is shaped as “a race for the customer”. Businesses have to constantly monitor the preferences and even the demographics of their customers. That is the only way to become more customer-centric and enhance the great user experience, which is essential these days.

The mobile economy is crucial. Smartphones becoming “a third” hand for humans, businesses have to consider mobile not as a channel but as a fully integrated part of their overall strategy. Artificial intelligence-enabled apps will boost their usage in the upcoming years, especially the usage of the embedded digital assistants that will be ubiquitous and constantly interacting whit their owners and the environment.

Finally, digital labor. The inevitable changes will be done to the workforce, where many jobs will be converted to software, smart machines, and robots. Knowledge and expertise will be more important than ever, creating a demand for new job profiles.

Strengths Of Switzerland As A Business Hub

Switzerland can capitalize on its well-known strengths as a business center. The stable environment is attractive for multinationals that strive for a highly qualified workforce and even a great quality of life. Let’s have a look at the key advantages of the business environment:

● Democracy and peace - Switzerland’s democracy and political system are considered among the most stable in the world, which leads to the fact that Swiss society has a small income imbalance. Peace is another synonym for this country since there were no internal civil conflicts for over a century.

● Neutrality and privacy - Switzerland remained outside international conflicts for centuries, following the neutrality principle guided by its foreign policy. Also, it has a long tradition of personal data protection and the right to personal privacy is a part of the Swiss Federal Constitution.

● Academia and innovation - Swiss universities and business schools are considered ones of the most prestigious in the world and supply highly educated knowledge and talent. Switzerland ranks among the world-leading countries in the field of patents, suggesting great innovative thinking.

● Cosmopolitan and business-friendly - Switzerland provides a largely English-speaking environment in the bigger cities, staying on the top of the game. The best thing about its business ecosystem is the stable legal and regulatory environment and the respected judicial system. The labor laws are very flexible and the employers find a qualified workforce by providing a productive work ethic.

There Are Many Business Opportunities - Be A Visionaire

It is common sense that Switzerland provides a reliable and trustworthy workforce not only for the nation but for the global digital economy as well. Even though Switzerland is not preferred as an outsourcing location due to high labor costs, this can easily be changed in the not too distant future. Switzerland has a very reliable technology infrastructure and has a reputation as a highly secure country with great respect to data privacy. Improving digital education and promoting labor opportunities can be of huge help. Promoting cognitive computing for governmental bodies and a new cultural mindset of “thinking big” are the key steps for establishing Switzerland as a preferable business hub.

Wrapping It All Up

There is no doubt that Switzerland is a well-established business environment. But as the years bring new horizons and the era of digitalization is skyrocketing, the Swiss environment has to embrace the new ways of doing business. Overcoming its weaknesses and changing the risk aversion mindset into a “dream big” perception is crucial for the evolution of the Swiss business sphere.

The country will have to align its cultural, industrial, and governmental policies to convince the world’s brightest minds to pursue their big ideas in Switzerland and keep the country “on the top of the world”, remaining the golden trustee.

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