Government resolution on measures to build better conditions for entrepreneurship to be circulated for comments
Recognising that the success of businesses is vital for the wellbeing of society, the Finnish Government is outlining measures that will encourage companies to build their business, employ people, and invest. Government resolution on entrepreneurship outlines objectives and measures aiming to create favourable conditions for businesses.
Small and medium-sized enterprises have endured considerable hardship following the COVID-19 crisis, which is why it is now important to create an operating environment that encourages growth and renewal. This will require a broader discussion on entrepreneurship and a long-term commitment to supporting actions.
“Small and medium-sized companies employing more than 10 people have latelycreated the majority of new jobs. The success of SMEs is such a crucial thing for Finland that supporting their growth and internationalisation must be taken into account in all decision-making, as pointed out in the Government resolution on entrepreneurship,” says Minister of Economic Affairs Mika Lintilä.
A good business environment attracts talent and investment
The Government resolution to be sent out for comments aims to increase companies’ trust in Finland as a good business environment. It also aims to make Finland more attractive to international talent and students in order to retain them in Finland as employees or entrepreneurs. Another objective is to attract more foreign investment in Finland.
The Government resolution on entrepreneurship outlines the objectives and measures for offering long-term support for business activities across administrative branches. The resolution is based on an entrepreneurship strategy prepared earlier, which identified key challenges experienced by entrepreneurs and actions to overcome them.
The resolution covers the most important policy measures that involve several ministries and require continuity and decisions from the entire Government. The new resolution on entrepreneurship will be in effect from 2022 to 2027.
Regulation should take account of the needs of SMEs
“The digital green transition provides great opportunities for companies, and for Finland in general. We can help companies create products for the future by making regulation more predictable, by accelerating the permit processes, and by incentivising our tax policy,” Minister Lintilä says.
The Government resolution on entrepreneurship seeks to:
- Encourage companies to pursue growth by accelerating sustainable growth, employment and renewal, with special attention paid to responding to the dual challenge of the digital green transition.
- Promote an increase in the number of companies offering jobs and in the number of medium-sized enterprises, and drive the internationalisation of SMEs.
- Encourage foreign companies to locate and invest in Finland.
- Ensure competitive and thriving business conditions for SMEs on a long-term basis.
- Introduce tax policy measures that support the economic and employment policy objectives, competitiveness and the vitality of Finland.
- Simplify regulation and permit procedures, and improve the functioning of the markets.
- Help SMEs and particularly new entrepreneurs build their business skills and networks and encourage entrepreneurs to seek competence development.
- Take the special features of SMEs into account in labour legislation.
- Increase customer focus in public administration services.
- Ensure access to financing by developing the financial markets.
- Strengthen the employer image of SMEs, support competence management and recruitment skills to ensure the availability of skilled labour, and support entrepreneur wellbeing.
- Enable flexible transitions between employment and entrepreneurship, make regulation simpler and more predictable, and provide better social protection for entrepreneurs.
- Find ways to facilitate transfers of ownership.
- Increase cooperation and dialogue with interest groups across government terms.
Comments may be submitted in December-January
The resolution prepared during the autumn is now available for commenting between 10 December 2021 and 21 January 2022. The Government aims to make a decision on entrepreneurship in the first quarter of 2022.
Jaana Lappi, Ministerial Adviser, tel. +358 29 506 2658