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Number of new businesses in Finland, up by 15% in Q3 2018

posted onJanuary 30, 2019
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The number of new businesses registered in Finland reached 7,965 in the third quarter of 2018, up by 15.3 percent compared to the same period in 2017,  when they numbered 6,906 according to the country's statistics agency.

Examined by industry, the number of enterprise openings was highest in professional, scientific and technical activities, where they reached 1,252. This is 15.7 per cent of all enterprise openings in the third quarter. The number of new businesses in construction increased by 12.8 precent, to 1,017. Meanwhile, the number of new firms in the trade sector also went up 11.6 percent to 924. 

Among regions, most new firm openings occurred in Uusimaa (3,149). The numbers of enterprise openings were next highest in Pirkanmaa (714) and Southwest Finland (690). Relative to the enterprise stock, Uusimaa had the highest number of enterprise  openings (2.6 percent).

Examined by sub-regional unit, the number of enterprise openings was highest in the sub-regional unit of Helsinki (2,994), followed by the sub-regional units of Tampere (594) and Turku (479). Relative to the enterprise stock, most enterprise openings were recorded in the sub-regional units of Helsinki, Jyväskylä and Oulu (2.6 percent) and in Riihimäki (2.5 percent).

Examined by municipality, the number of enterprise openings was highest in Helsinki (1,531), followed by Espoo (509), Vantaa (391), Tampere (375) and Turku (309).

The number of individuals registered for business reached 4,437 while the number of limited liability companies reached 3,009. Enterprise openings in the legal form of natural persons accounted for 55.7 per cent and those in the form of limited companies for 37.8 per cent of all enterprise openings, Statistics Finland said.

(Enterprise openings by region, Q3 2018 Source: Statistics Finland)

finland enterprases

Enterprise closures during the second quarter of 2018

At the other end of the scale, there were 5,708 enterprise closures in the second quarter of 2018, the agency said.Enterprise closures accounted for 1.5 per cent of the total stock of enterprises in the second quarter of 2018.

Most enterprise closures were recorded in trade, numbering 1,011. This was 17.7 per cent of all enterprise closures in the second quarter. Enterprise closures numbered 968 (17 percent) in professional, scientific and technical activities and 733 (12.8 percent) in construction.

The region of Uusimaa saw 2,129 enterprise closures. The Pirkanmaa region was second, with 524 business closures, followed by  Southwest Finland, with 512. Uusimaa had the highest number of enterprise closures (1.7 percent).

Among sub-regions, the number of enterprise closures was highest in  Helsinki (2,004), followed by Tampere (443) and Turku (339). Relative to the enterprise stock, the number of enterprise closures was highest in the sub-regional unit of Äänekoski (2.3 percent).

Examined by municipality, the highest numbers of enterprise closures were recorded in Helsinki (1,064), followed by Espoo (342), Tampere (288), Vantaa (223) and Turku (192).

in the second quarter of 2018, enterprise closures in the form of individuals numbered 2,946 and those in the form of limited liability companies 2,175. Enterprise closures in the form of individuals accounted for 51.6 per cent and those in the form of limited liability companies for 38.1 per cent of all enterprise closures.

Enterprise openings and closures are deduced from the Tax Administration's customer database, Statistics Finland said.