Fewer enterprise openings, more closures than 12 months earlier
The number of enterprise openings fell in Finland by 7% during the third quarter (July-September) of the year 2020 compared with the respective period of 2019, according to Statistics Finland's latest data. Similarly, during the previous quarter (April to June) the number of enterprise closures was 13% higher than 12 months earlier.
The Finnish statistical office provides data on company closings 3 months late with respect to openings.
In July to September 2020 there were 9,320 enterprise openings across Finland, which is a 7% fall compared with the corresponding period one year before. In absolute numbers, enterprise openings decreased by around 700.
Examined by main industry, the number of enterprise openings was highest in professional, scientific and technical activities, where the number of openings was 1,576. The number of openings was next highest in trade (1,133) and construction (1,129). Compared to the third quarter of 2019, enterprise openings decreased by 25% in transportation and storage.
Examined by region, most enterprise openings were recorded in Uusimaa, 3,711 enterprises. The number of enterprise openings was next highest in Pirkanmaa (904) and Southwest Finland (790). The number of enterprise openings grew in four regions from one year ago: Kainuu (+24%), Central Ostrobothnia (+16%), Åland (+10%) and Päijät-Häme (+6%).
Examined by municipality, most enterprise openings were recorded in Helsinki, 1,785, in the third quarter of 2020. The number of enterprise openings was next highest in Espoo (601), Tampere (488), Vantaa (437), Turku (364) and Oulu (346).
Examined by legal form, enterprise openings in the form of natural persons numbered 4,856 and those in the form of limited companies 4,115 in the third quarter of 2020. Enterprise openings in the form of natural persons accounted for 52% and those in the form of limited companies for 44% of all openings.
Closures, 2nd quarter
According to Statistics Finland, there were 5,531 enterprise closures in April to June, which is 13% more or around 630 more closures year-on-year.
Examined by main industry, the number of enterprise closures was highest in numbers in professional, scientific and technical activities (895) and trade (894). The number of enterprise closures was next highest in construction (658).
Examined by region, most enterprise closures were recorded in Uusimaa, 2,208 enterprises. The number of enterprise closures was next highest in Pirkanmaa and Southwest Finland. In both of these enterprise closures numbered 478. Of all enterprise closures, 40 per cent were from Uusimaa.
Examined by municipality, most enterprise closures were recorded in Helsinki, 1,097 in the second quarter of 2020. The number of enterprise closures was next highest in Espoo (343), Vantaa (250), Tampere (235) and Turku (200).
Examined by legal form, in the second quarter of 2020, enterprise closures in the form of natural persons numbered 2,818 and those in the form of limited companies 2,189. Enterprise closures in the form of natural persons accounted for 51% and those in the form of limited companies for 40% of all closures.