Business
Small and medium-sized enterprises (SMEs) are crucial to the Swiss economy. However, the large number of multinationals based in Switzerland, especially the major pharmaceutical companies, also contribute disproportionately to GDP.
SMEs employing fewer than 250 staff are the lifeblood of the Swiss economy. They account for over 99% of all businesses and provide roughly two-thirds of the jobs in Switzerland. Many SMEs are family businesses.
Switzerland is also home to some major multinationals. Although SMEs vastly outnumber the multinationals, these major companies employ a large number of staff and contribute disproportionately to GDP. Nestlé, the food and beverages giant, is the largest employer, with a 270,000-strong workforce worldwide. Switzerland is home to 14 of the 500 largest companies in the world in terms of market capitalisation. These include Novartis and Roche (pharmaceuticals), UBS, Zurich and SwissRe (financial services and insurance), Glencore (commodities trading), Nestlé, Migros and Coop (food and beverages), Holcim (building materials), Adecco (human resources) and ABB (engineering and technology). Many of these companies are headed by foreign nationals with international experience and expertise.
Links
Swiss Stories
From Switzerland to the world: inventions that have become indispensable
From curious coincidences to clever everyday solutions, Swiss inventions like Velcro and cellophane show how small ideas changed the world.
The story behind Switzerland's iconic wooden toy cow
Small Swiss wooden cow, an iconic toy rooted in Alpine craftsmanship and a symbol of Swiss identity.
Salt – the raw material from the Swiss Alps
Swiss Alpine salt, a strategic resource whose extraction underpins national supply and regional economies.
The ‘Swiss’ army knife – a patchwork product par excellence
Swiss Army Knife icon, hallmark of Swiss design and multifunction tool that evolved into a national symbol.
Caran d’Ache: Rewriting History
Founded in Geneva in 1915, Caran d’Ache turned writing tools into art: iconic innovations like Fixpencil, Prismalo, Neocolor and the 849 pen define Swiss excellence.
The man behind the Swatch
Swiss visionary Nicolas G. Hayek saved the country’s watch industry with Swatch – a bold design icon symbolising creativity and innovation.