Finnvera’s financing for start-ups increased during the first half of the year

Measured by the number of enterprises and the sums involved, Finnvera’s financing for starting enterprises rose during the first half of the year when compared against the corresponding period the year before. In all, financing was granted to 2,100 start-ups.

The number of starting enterprises that received financing from Finnvera during the first six months of the year was 9 per cent greater than at the same time the year before. The total sum granted was EUR 122.1 million, or11 per cent more than during the first half of 2009. Regionally, the greatest number of start-ups that received financing was in Uusimaa, where the number rose by more than one third on the figure for the previous year.

“In the present economic situation, setting up an enterprise may be an option to employ oneself. Solid skills and a long experience of working life lay a good foundation for entrepreneurship. During the previous recession, the number of starting enterprises began to grow gradually in 1992. It may be that the rise in the number of enterprises after the recession of the early 1990s will be repeated this time, too,” says Sirkka-Liisa Kovettu, Head of Microfinancing at Finnvera.

Turnover among enterprises has an impact on the economy in general and is important for competitiveness as well. “At its best, the increase in the number of start-ups is an indication of regeneration and innovation in the whole of the economy.”

About half of the start-ups financed by Finnvera operate in the sectors of trade and consumer services and services to business. Over 40 per cent of the financing to starting enterprises was granted to industrial enterprises; this was clearly more than the year before.

According to preliminary statistics, the number of starting enterprises was still declining in 2009, but an upswing occurred during the first quarter of this year.

Additional information:
Sirkka-Liisa Kovettu, Head of Microfinancing, tel. +358 20 460 7217