Economy in Finland
Finland has a free-market economy with a highly industrialised manufacturing sector.
Revolutionising its market during the 1980s, Finland emerged with a GDP comparable to the
UK and Germany. Finland later abolished public monopolies and fought internal corruption
to become one of the most efficient markets in Europe and has been named as one of the most
economically and politically stable countries in the world
Setting up a business in Finland
Finland has a very strategic location on the interface between the markets of East and West. A lot of companies wanting to take advantage of
this have established operations in the Helsinki region, and it is paying off for them. Helsinki can offer them all the services and
infrastructure that a company needs for successful operation in a competitive economy. Experience has shown that companies that set up
in Helsinki stay on; the number that have pulled up stakes is vanishingly small. Of the about 3,000 foreign companies that have established
in Finland, around 2,500 are in the Helsinki region and 1,000 in the capital itself.
Social security for Entrepreneurs
The Self-Employed Persons' Pensions Act (YEL) requires entrepreneurs to take out pension insurance. Entrepreneurs are not covered by accident
insurance; therefore it is advisable for them to take out a voluntary accident insurance policy. Furthermore, entrepreneurs do not have a
contractual group insurance policy. They are solely responsible for arranging voluntary life insurance cover for themselves. If they become
unemployed for whatever reason, entrepreneurs may qualify for a basic allowance from the Social Insurance Institution of Finland (Kela);
they may also voluntarily join the Entrepreneurs' Unemployment Fund for earnings-related unemployment benefits.
Entrepreneurs may also receive a maternity allowance, paternity allowance, parental allowance, special care allowance or rehabilitation
allowance and sickness allowance.
Finland Business comments
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is it easy to operate business in Finland as not EU Citizens?
Patel , India
Have been doing business here for while and very good to do business. Despite high tax in contrast to east europe but there's low crime rate and organise crime
Mario , Mexico, Helsinkin
Finish are very kind peopl
DAUDI , Tanzania