New companies set up at brisk pace
Decline expected this year
New companies continued to be set up in Finland at a brisk pace through at the end of last year, according to fresh figures from the Trade Register.
Although more companies were removed from the register last year than in 2007, the net growth in the number of enterprises - the number of new companies minus the ones that had closed up shop - was 16,443. In 2007, net growth was 16,640.
In the October-December period 7,662 new companies were entered in the Trade Register, only about 200 fewer than at the same time the previous year.
The weakened economic situation is reflected in growth in the number of bankruptcies, but grimmer figures are expected this year. The weaker economic trends are becoming apparent in the figures put out by the Trade Register.
“The number of companies which go out of business voluntarily, and the number of bankruptcies will grow. The setting up of new companies will decrease. That is quite certain”, says economist Harri Hautala of the Federation of Finnish Enterprises.
Many who have lost a job or who have been temporarily laid off are now considering the possibility of setting up companies of their own.
“Wage earners amass know-how that could be applied in business life. It is quite a sensible option to employ one’s self by setting up a company”, insists Janne Makkula of the Federation of Finnish Enterprises.
He advises caution, however: “One needs to carefully evaluate one’s know-how, the market situation, and the competitive situation”, he notes.
Federation of Finnish Enterprises