Finnish companies are increasingly looking toward the United States. In a recent export managers’ survey conducted by the Chambers of Commerce, 56% of respondents stated that the U.S. is a growing market within their industry. The survey, conducted in early September, included 113 export-focused companies across 18 sectors.
According to Päivi Pohjanheimo, Head of International Affairs at the Central Chamber of Commerce, the results reflect Finnish companies’ optimism about the diverse opportunities in the U.S. market, despite the global economic uncertainty. From the perspective of exports and internationalization, the U.S. is becoming an increasingly important partner and target market for Finnish companies.
Does the outcome of the U.S. presidential election affect business operations?
The survey also asked companies whether the U.S. presidential election outcome would impact their operations. Responses were fairly divided: nearly 38% of respondents said the outcome would affect their business, around 35% said it would not, and about 28% were unsure about its potential impact.
According to Pohjanheimo, the election results could influence U.S. economic policy and trade agreements, which, in turn, may impact bilateral trade and export opportunities. In this way, the election outcome holds significance for Europe as a whole.
Geopolitical tensions impact the business environment
Geopolitical tensions inevitably affect the operations of Finnish companies. Of those surveyed, 14% reported that geopolitical uncertainty significantly affects profitability, while 77% said it affects profitability to some extent or slightly.
In several previous Chamber of Commerce surveys, companies have indicated that they consider environmental uncertainties in their risk management. Companies have anticipated the need for preparedness since the onset of the pandemic.
