Structural change is a normal part of regional economic development and business renewal. Major changes have taken place in Finland’s industrial structure over the last decade and tens of thousands of jobs have disappeared, especially in traditional industries. In recent years, the ICT sector has also been hit by a major structural change.
The best way to protect against and manage a sudden structural change is through a diverse industrial structure that is able to renew itself. Promoting entirely new growth sectors and ensuring that the education policy is up to date help to mitigate the impacts of structural change. Anticipating changes in the industrial structure and society will also help the management of a sudden structural change.
Renewal of business operations, growth, internationalisation and pilot projects promoting employment and entrepreneurship play a central role in this process. In the management of anticipated structural change, the focus is on using anticipation in management, preparatory measures taken in the regions and their responsibility for business promotion and renewal, and advancing smart specialisation and piloting culture. A mix of available employment and business funding instruments will be used on a case-by-case basis.