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business

Finland

Finnish economy in recession

The Nomad Today 5/29/20

The country has paid a high toll for the coronavirus crisis, particularly with a large drop on exports.

Finland

Falling energy prices make Finnish manufacturing cheaper

The Nomad Today 5/25/20

Producer prices for manufactured export products fell 7.8% in April.

Entrepreneurs in Finland

Businesses may recover VAT paid earlier and reschedule payment

The Nomad Today 5/21/20

However, this will not be for free: rescheduled payments will be subject to 3% interest.

Finland

Number of bankruptcies fell in April despite coronavirus crisis

The Nomad Today 5/21/20

However, the accumulated number of bankruptcies between January and April 2020 increased by 8.4%.

Finland

Wages and salaries sum grew by 3.1% in the first quarter

The Nomad Today 5/18/20

Growth was higher in the private sector.

Man-phone-telephone-smartphone-speak-suit-business

Finland

Coronavirus

Government to introduce a new form of support to businesses

The Nomad Today 5/14/20

This new instrument is intended for companies that experienced a marked decrease of turnover due to the pandemic.

Finland

Finnish companies dislike government’s response to economic crisis

The Nomad Today 5/6/20

2,500 member companies of the chambers of commerce responded to a survey and 78% of them think that the government did not handle the economic crises well.

Woman-suitcase-travel-luggage-airport-station-girl

Tourism

Coronavirus

Government predicts tourism demand will shrink 60% this year

The Nomad Today 5/6/20

The assessment made by the Ministry of Economic Affairs and Employment predicts that, if the recovery is further delayed until the end of the year, the contraction could be about 70% (or 10.9 billion…

A Norwegian plane landing. Photo: Jørgen Syversen.

Finland

Consumer authority recommends against accepting Norwegian cash points

The Nomad Today 5/4/20

The Consumer Ombudsman reminds that, by law, consumers have the right to receive a cash refund whenever an airline cancels a flight.

Finland

Business bankruptcies increased 14% in the first quarter

The Nomad Today 5/1/20

According to Statistics Finland, the economic effects of the coronavirus pandemic are still not visible in the number of bankruptcies.

Finland

Turnover of large enterprises contracted 3 months in a row

The Nomad Today 4/30/20

The enterprises described in the statistics make up approximately 70% of the turnover of all enterprises operating in Finland.

Finland

Business Finland granted 100,000€ to the blog of the wife of a Kokoomus politician

The Nomad Today 4/19/20

In the last financial year, Huono Äiti had a turnover of 248,000 euros. Petri Sarvamaa, a member of the right-wing National Coalition Party (Kokoomus) is the deputy chair of the Board. The case…

Finland

Finnish banks earned 1.6 billion euros in the last quarter of 2019

The Nomad Today 4/16/20

Banks’ administrative expenses amounted to 1.4 billion euros. The share of wages and salaries in administrative expenses was 53.7% or around 768 million euros.

Man-work-call-center-headphones-laptop-asus-computer by pexels.

Finland

Government offers 1 billion in direct subsidies to troubled companies

The Nomad Today 3/27/20

The aim is that as many small and middle-size businesses as possible can continue to operate profitably during and after the crisis caused by the coronavirus epidemic.

Finland

Coronavirus

Government agrees additional 10 billion package to finance companies

The Nomad Today 3/20/20

Domestic financing authorizations through Finnvera will be increased to 12 billion euros from the current maximum.

Entrepreneurs in Finland

Vero offers tax arrangements to entrepreneurs affected by coronavirus

The Nomad Today 3/19/20

Business owners and entrepreneurs can request a deferment of tax debt payments. In addition, the rate of late-payment interest on taxes included in the arrangement will be lowered from 7% to 4%.