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Why Finland is One of the Best Countries for Starting a Business

Why Finland is One of the Best Countries for Starting a Business

Finland consistently ranks among the top global destinations for business, and for good reason. With its exceptional infrastructure, highly educated workforce, and thriving innovation ecosystem, Finland offers an unparalleled environment for startups and investors. According to the World Bank’s Ease of Doing Business Index 2020, Finland ranks 20th globally and 10th in Europe for ease of doing business. For companies looking to enter this dynamic market, Scandicorp stands as the preferred partner, providing tailored services to help navigate, establish, and grow businesses efficiently in Finland.

Why is Finland Consistently Ranked as a Top Destination for Business?

Efficient Business Setup

  • Registering a company in Finland takes only 14 days on average, compared to the OECD average of 9.2 days (World Bank, 2020)
  • A private limited company can be incorporated with a minimum share capital of just €2,500 (Finnish Patent and Registration Office, 2021)
  • Scandicorp simplifies the process further, providing tailored company formation services, local representation, and full compliance support

Modern Infrastructure

  • Finland ranks 8th globally in the World Economic Forum’s Global Competitiveness Report 2019 for the quality of its infrastructure
  • Finland has the highest mobile broadband subscriptions per 100 population among OECD countries (OECD, 2021)

Highly Skilled Workforce

  • 44% of Finland’s population aged 25-34 hold a tertiary degree, compared to the OECD average of 45% (OECD, 2021)
  • Finland ranks 1st in the European Commission’s Digital Economy and Society Index 2020 for human capital

 

How Scandicorp Supports Businesses Entering Finland

Establishing a business in a foreign country can be complex, but with Scandicorp, the process becomes effortless. Scandicorp offers a full range of corporate services, including:

  • Company Formation and Management: Assisting clients in establishing efficient corporate structures, including company incorporation, legal filings, and business registration.
  • Registered Office and Local Directors: Providing professional directors, registered office addresses, and essential corporate administration to ensure full compliance with Finnish regulations​.
  • Accounting and Compliance: Managing payroll, financial reporting, and statutory compliance so you can focus on growing your business.
  • Banking and Taxation Guidance: Facilitating relationships with local banks and offering expert guidance on Finland’s corporate tax framework, which features a competitive 20% tax rate​.

What Makes Finland’s Business Environment Attractive for Startups and Investors?

Finland offers unique advantages for businesses looking to thrive:

  1. Innovation Ecosystems: Finland is a leader in ICT, clean technologies, and biotechnology. Cities like Helsinki are home to startup hubs such as Maria 01 and events like Slush, drawing international investors​.
  2. Competitive Tax Environment: Finland’s corporate tax rate of 20% is among the most attractive in the Nordic region​. Scandicorp assists businesses in optimizing tax planning strategies while maintaining full compliance.
  3. Government Incentives: Organizations like Business Finland provide grants, loans, and R&D funding to support startups and international businesses. Scandicorp ensures clients access these incentives efficiently​.

How Does Finland Compare to Other Nordic Countries in Ease of Doing Business?

While Sweden and Norway also offer business-friendly environments, Finland stands out in key areas:

  • Faster setup times: Registering a company takes 7 days in Finland, compared to 7.5 days in Norway and 10.5 days in Sweden (World Bank, 2020)
  • Cost-efficient operations: Finland’s corporate tax rate is 20%, lower than Sweden (21.4%) and Norway (22%) (KPMG, 2021)
  • Innovation focus: Finland ranks 7th globally in the Bloomberg Innovation Index 2021, surpassing Sweden (8th) and Norway (17th)

 

Booming Sectors in Finland and Emerging Opportunities

Finland’s most promising industries include:

Technology and Gaming

  • Finnish gaming companies generated a combined turnover of €2.4 billion in 2020 (Neogames, 2021)
  • Success stories include Supercell (Clash of Clans) and Rovio (Angry Birds)

Clean Energy and Sustainability

  • Finland aims to be carbon neutral by 2035 and carbon negative by 2050
  • Cleantech Finland, a national cluster, includes over 3,000 companies focused on clean technologies

Healthcare and Biotechnology

  • Finland’s health technology exports reached €2.4 billion in 2020 (Healthtech Finland, 2021)
  • The country is a pioneer in digital health solutions, with initiatives like the FinnGen project for genomic research

 

Why partner with Scandicorp?

Scandicorp simplifies your entry into Finland by offering tailored corporate services and hands-on guidance every step of the way. From company formation to day-to-day administration, our team of experts ensures that businesses meet all regulatory requirements and seize the opportunities Finland has to offer.

As a trusted partner for foreign businesses and entrepreneurs, Scandicorp provides:

  • End-to-End Company Setup
  • Local Representation and Administration
  • Access to Professional Networks and Advisory Services
  • Tax and Financial Compliance Support

 

Finland’s exceptional infrastructure, skilled workforce, and innovation-driven economy make it one of the most attractive destinations for business globally. By partnering with Scandicorp, entrepreneurs and investors gain a seamless, transparent, and compliant entry into the Finnish market. Let Scandicorp help you unlock Finland’s potential and position your business for success.

Next Steps

Ready to unlock the potential of the Finnish market? Contact Scandicorp today to schedule a consultation and take the first step toward establishing your business in Finland.

Contact Scandicorp today to take the first step toward establishing your business in Finland.