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Home BUSINESSFinland lags behind in developing start-up companies
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Fri, 07 Oct, 2016 12:05:45 AM
FTimes Report, Oct 7
 
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Finland lags behind other countries in developing an operating environment favourable for start-up companies, according to a recent survey report.
 
The report jointly prepared by Ramboll Management Consulting Oy, Etlatieto Oy, 4Front Oy, Urban Mill and The Evidence Network Ltd also recommended that the adoption of a cross-administrative start-up strategy might play a positive role in this regard.
 
The report entitled ‘Growth drivers and bottlenecks of start-up companies’ provided an overview of the current state of Finnish start-up and growth companies and their role in business. 
 
The primary objective of the survey was to determine how to develop the government policies to provide effective support for the growth of start-up companies.
 
Start-ups play a key role in the efforts to revitalise the economy, create new jobs and promote growth. 
 
A small yet fast-growing group of small firms is restructuring industries, challenging even major companies to overhaul their operations and providing examples of how flexible companies with a risk appetite can do business.
 
A recent survey showed that Finnish companies are more growth-oriented than a decade ago.
 
Moreover, they are better educated and more experienced, and innovation activities play a more important role in their operations. It is also more common to seek growth in international markets.
 
The public sector has – and will continue to play – a major role in supporting growth-oriented companies, promoting a start-up culture and developing a favourable operating environment for new, expanding businesses. 
 
As part of the study, the authors compared the Finnish start-up operating environment with conditions in peer countries and analysed the current status of start-up ecosystems and the services available for these companies.
 
The findings lend support to the view that the national operating environment has improved considerably over the past ten years. Even so, Finland is lagging behind international developments.
 
Accordingly, the authors call for a more effective and focused policy on start-up companies on the part of the public sector.
 
With reference to international examples, the report concluded that Finland would need a cross-administrative start-up policy which would be an independent, yet not separate part of the general policy on businesses. 
 
The authors argued that Finland needs a start-up strategy prepared in close cooperation between administrative sectors and start-up operators. 
 
The strategy should provide for policies and measures spanning several government programmes conducive to the growth and evolution of start-up companies and their operating environment.
 
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