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Access to finance




According to the Small Business Act (SBA) Fact Sheets, the performance of Finnish SMEs since 2008 has been resilient. After an initial downturn with a substantial fall in the number of SMEs, employment and value added, the majority of SMEs recovered rapidly to pre-crisis levels. For the last two years, however, the Finnish SME sector has stagnated at this level. The only sector showing notable growth is information and communications technology (ICT) where Finland boasts a vibrant start-up culture. Preliminary estimates forecast that growth will pick up in 2013, a trend that will increase in 2014. However, there are a number of risks mainly relating to recovery in the EU. Policy-wise, Finland remains the benchmark for SBA policy implementation in the EU. Its policy record reveals no serious weaknesses or barriers for SMEs. Finland scores well above the EU average in most SBA areas. The ageing population poses, a strategic long-term challenge to the current levels of entrepreneurship, as in many other European countries. There is also room to further improve SMEs’ access to public procurement. Recently, due to stagnation in home and EU markets, policy makers have put particular emphasis on measures promoting internationalisation such as the Team Finland initiative.

Key indicators on access to finance
SMAF gif - 19 KB [19 KB]

Finland ranked 5th out of 27 countries in the 2012 SMAF Index.

For details on SMAF index and methodology please click here.

Download data excel12book - 593 KB [593 KB]

Loans gif - 37 KB [37 KB]

Source: Chart compiled using ECB data

Note: Loan volumes and interest rate data for 2013 are to the period September 2013 only (due to data availability as at November 2013).

Download data excel12book - 69 KB [69 KB]

Venture capital
Venture capital gif - 42 KB [42 KB]

Source: Chart compiled using EVCA data

Download data excel12book - 69 KB [69 KB]

Business angels finance
Business angels finance gif - 23 KB [23 KB]

Source: Chart compiled using EBAN data (*comparable data for 2011 were not accessible)

Download data excel12book - 29 KB [29 KB]



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