Published: 22 July 2021

Number of enterprise closures grew by one fifth in the last quarter of 2020

According to Statistics Finland, in October to December 2020, the number of enterprise closures was 21 per cent higher than twelve months earlier. There were nearly the same number of enterprise openings in the January to March period of 2021 as in the corresponding period of 2020.

Enterprise openings by region, 1st quarter of 2021

Enterprise openings by region, 1st quarter of 2021

Enterprise openings, 1st quarter 2021

According to Statistics Finland, there were 12,403 enterprise openings in January to March 2021. There was the same number of enterprise openings as in the corresponding period in 2020.

Examined by main industry, most enterprise openings were recorded in professional, scientific and technical activities. The number of enterprise openings in this industry was 2,191. The number of enterprise openings was next highest in construction (1,533) and trade (1,514). Compared to the January to March period of 2020, the number of enterprise openings increased most in the main industries of trade and manufacturing and decreased most in the main industry of transportation and storage.

Examined by region, most enterprise openings were recorded in Uusimaa, 4,824 enterprises. The number of enterprise openings was next highest in Pirkanmaa (1,171) and Southwest Finland (1,111). The number of enterprise openings increased most in relative terms in Kainuu (15%) and North Savo (8%) from one year back, but the number of enterprise openings decreased most in South Karelia (10%).

Examined by sub-regional unit, the number of enterprise openings grew slightly or remained unchanged in over one-half (55%) of the sub-regional units compared with one year earlier. The number of enterprise openings was highest in the sub-regional unit of Helsinki, 4,523 enterprises. There were 979 enterprise openings in the sub-regional unit of Tampere and 779 in the sub-regional unit of Turku. In the major sub-regional units, enterprise openings increased most in Tampere, Kuopio and Turku from the year before and decreased most in Helsinki.

Examined by legal form, in the first quarter of 2021, enterprise openings of the form of natural person numbered 6,664 and those of the form of limited company 5,310. Enterprise openings of the form of natural person accounted for 54 per cent and those of the form of limited company for 43 per cent of all enterprise openings.

Enterprise closures, 4th quarter 2020

According to Statistics Finland, there were 7,562 enterprise closures in October to December 2020. There were 21 per cent more enterprise closures than in the corresponding period in 2019, around 1,300 more closures in absolute numbers.

Examined by main industry, the number of enterprise closures increased in almost all main industries. In absolute numbers, the highest numbers of enterprise closures were recorded in the main industry of professional, scientific and technical activities (1,149), trade (1,136) and construction (970). The relative growth of enterprise closures was highest in financial and insurance activities (48%) and in information and communication activities (41%).

Examined by region, most enterprise closures were recorded in Uusimaa, 2,848 enterprises. The number of enterprise closures was next highest in Southwest Finland (690) and Pirkanmaa (647). Compared to the previous year, enterprise closures increased most in relative terms in Lapland (41%) and Kainuu (40%).

Examined by sub-regional unit, the number of enterprise closures remained unchanged or grew from the year before in most sub-regional units (80%). The number of enterprise closures was highest in the sub-regional unit of Helsinki, 2,653 enterprises. There were 528 enterprise closures in the sub-regional unit of Tampere and 493 in the sub-regional unit of Turku.

Examined by legal form, enterprise closures of the form of natural person numbered 3,886 and those of the form of limited company 2,935. Enterprise closures in the form of natural persons accounted for 51 per cent and those in the form of limited companies for 39 per cent of all enterprise closures.

Enterprise closures by region, 4th quarter of 2020

Enterprise closures by region, 4th quarter of 2020

Enterprise openings and closures are deduced from the Tax Administration's customer database. Changes in the Tax Administration's data systems or database maintenance can have an effect on the data of the statistics and comparability of time series.

The regional division of 1 January 2021 was used in this release.


Source: Enterprise openings and closures. Enterprise openings 2021, 1st quarter; enterprise closures 2020, 4th quarter. Statistics Finland

Inquiries: Mira Kuussaari 029 551 3538, Tommi Veistämö 029 551 3546, rakenne.tilastot@stat.fi

Head of Department in charge: Katri Kaaja

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Tables

Tables in databases

Appendix tables


Updated 22.7.2021

Referencing instructions:

Official Statistics of Finland (OSF): Enterprise openings and closures [e-publication].
ISSN=1799-2346. 1st quarter 2021. Helsinki: Statistics Finland [referred: 27.7.2021].
Access method: http://www.stat.fi/til/aly/2021/01/aly_2021_01_2021-07-22_tie_001_en.html