CER was established in collaboration between the Mid Sweden University, companies and public organizations in the financial sector in the Sundsvall region, the municipalities in the region and the County Board of Västernorrland.
This means that CER originates in the practical activities in the banking, insurance, pension, audit and property businesses. The term relations is related to the fact that both companies and individuals in economic contexts are part of the socio-economic network that consist of relationships between companies and individuals, and between the companies themselves. In economic relations the financial aspect is focused.
For enterprise customers in the financial sector, relationships with banks, pension and insurance companies often are of strategic importance. Such relationships are typically long-term. This applies in particular to issues concerning significant economic value, such as long-term funding, insurances and pension obligations.
Also from the state's perspective, it is important to have sound economic relations. The purpose of the auditors’ review of corporate accounting and management is that economic relations should be based on reliable and accurate financial information.
Economic relations are also important in the property business, partly because of the large capital value tied up in re property holdings, partly in light of the particular conditions in Västernorrland and associated property valuation.
The internationalization of markets affects the prospects for economic relations in society. Competition from foreign players increases, but opportunities for Swedish industry to further expand its international operations are improved as well. This requires adaptation to local conditions and ability to assimilate experiences and approaches used in other countries.