A worker in Helsinki. LEHTIKUVA
A recent Entrepreneur Gallup poll has highlighted a significant downturn in the financial situation of small and medium-sized enterprises (SMEs) in Finland. The survey, conducted in early November with responses from 1,300 SME representatives, indicates that the economic outlook for these businesses has notably worsened, casting a shadow over the country’s entrepreneurial landscape.
Neural DSP was awarded the Newcomer Company of 2023. In the picture on the left is Douglas Castro (CEO, founder) and on the right, Francisco Cresp (CPO, founder). Photo: Loïc Sans
President Sauli Niinistö of Finland has honored several Finnish companies with the prestigious annual internationalization award, recognizing their global success and contributions to the country's economy and innovation landscape. The awards celebrate Finnish companies' achievements in expanding their reach and impact on the international stage, emphasizing competitiveness, ethical operations, and fostering Finnish expertise and employment.
LEHTIKUVA
In the first half of 2023, Finnish private equity investors have actively continued to invest in growth-oriented small and medium-sized enterprises (SMEs) despite a challenging market environment. According to a recent barometer survey, investors specializing in buyout and growth investments view the current market as difficult, but signs of improvement are on the horizon.
The Finnish Business Angels Network (FiBAN) has conducted a comprehensive member survey that reveals the mindset and trends among Finnish angel investors. Gathering over 250 responses, the survey delved into the demographics, investment activity, experience, and expertise of angel investors, as well as their interest in various sectors and trends. A notable 86% of respondents indicated they are actively seeking new investment opportunities, marking the first time such a member survey has been conducted.
Chinese yuan
In a significant shift in global finance, the Chinese yuan has overtaken the euro to become the world's second-most utilized currency in global trade. This development, highlighted by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), showcases the rising influence of Asian currencies in the worldwide monetary system.
According to Reuters, global companies are increasingly turning to China's debt markets, issuing record amounts of yuan-denominated bonds and borrowing heavily from Chinese banks.
Katherine Maher, CEO, Web Summit during the opening night of Web Summit 2023 at the Altice Arena in Lisbon, Portugal. Photo by Lukas Schulze/Web Summit via Sportsfile
Lisbon's Altice Arena buzzed with innovation and diversity as Web Summit, the world’s largest technology conference, welcomed a record 70,236 attendees from 153 countries, reflecting a vibrant tech ecosystem. The 2023 edition was not just about numbers; it marked a significant stride in gender diversity, with women representing 43% of attendees and 38% of speakers, and almost one-third of the 2,608 startups being woman-founded.
The exit of the year 2022 awarded angels, case Miradore. Image: FiBAN
The Finnish Business Angel Network (FiBAN) has once again recognized the stellar achievements within its community, honoring those who have made a significant impact in the startup ecosystem in 2022. This year’s awards celebrated remarkable exits, outstanding business angels, and honorary members for their exceptional contributions.
Miradore Bags the Exit of the Year Award
LEHTIKUVA
In recent years, the Helsinki metropolitan area has witnessed a significant rise in capital investments in startups and growth-oriented companies, with a particular increase in large-scale investments. Notably, the majority of the largest funded companies focus on digital technology, and over half of the investors participating in funding rounds have been domestic.
The economic development in Helsinki and the surrounding region appears positive and competitive from the perspective of capital investment growth.
In a recent interview with the Ulla Nurmenniemi: Executive Director of Health Care Trade & Consulting at FinnCham Beijing, the evolving landscape of Sino-Finnish healthcare trade and collaboration was thoroughly explored. The dialogue, rich with insights, delved into various aspects of the trade relationship, particularly focusing on the participation of Finnish healthcare companies in the China International Import Expo (CIIE) and the burgeoning opportunities in the Chinese market. The entire interview is viewable in this video.
Petteri Rautaporras, the director and chief economist at the Technology Industries of Finland, reacted at a news conference in Helsinki in October 2019. Rautaporras on Thursday said the decline in new orders witnessed in the third quarter of this year will create significant challenges for technology firms in the winter and early spring unless demand recovers. (Antti Aimo-Koivisto – Lehtikuva)
THE OUTLOOK for Finnish technology industries has become more clouded.
The Technology Industries of Finland on Thursday reported that the number of new orders and tender requests has decreased sharply – including “staggeringly” in mechanical engineering – according to its latest order book and personnel survey.
