According to the Entrepreneur Gallup survey, more than half of small and medium-sized enterprises (SMEs) are pursuing growth. Growth aspirations are most common among companies with more than 10 employees, industrial companies, and businesses led by entrepreneurs under the age of 39. Regionally, the highest concentration of growth-oriented companies is in the Helsinki metropolitan area.
“It’s encouraging that so many SMEs are aiming for growth. At the same time, it’s important to recognize and take seriously the obstacles companies report, such as taxation, difficulties accessing financing, and the availability of advisory services,” says Mikael Pentikäinen, CEO of the Federation of Finnish Enterprises.
Nearly one-third (31%) of companies believe they have fairly good conditions for growth. Six percent consider their growth conditions to be very good. On the other hand, 18% report that their growth conditions are fairly or very poor.
Among growth-oriented SMEs, one in ten targets at least 50% growth, and about one in four aims for 20–50% growth.
Skills and Marketing Are Pillars of Growth
For companies with fairly or very good growth conditions, the key enablers of growth are:
- Skilled personnel (61%)
- Satisfied customers (59%)
- The company’s stable financial situation (35%)
- Existing customers increasing their purchases (35%)
“The importance of skills as a growth enabler has increased further since last year, when this was last surveyed,” Pentikäinen notes.
This may be due to digitalization and artificial intelligence, which require continuous learning and the acquisition of new skills. As a result, companies need skilled labor to remain competitive.
The role of marketing has also grown. According to the Federation of Finnish Enterprises, in June of last year, 21% of respondents considered marketing a growth enabler, while now that figure is 34%.
Entrepreneurs Without Access to Funding and Support
Only about one in seven companies feels that Finland’s tax system encourages business growth. A total of 1,351 companies responded to the survey.
“This is concerning. It’s essential to consider how the tax system should be reformed to better encourage growth and investment,” Pentikäinen comments.
As many as 43% of companies reported that it is not easy to obtain financing for growth. The greatest financial difficulties are found in the smallest businesses with 1–4 employees. Pentikäinen urges banks to take more risks.
“Few SMEs can invest in growth without external funding,” he says.
A significant portion of entrepreneurs (38%) feel that it is not easy to get help and support for growing their business. This sentiment is most common in the retail sector. According to Pentikäinen, too many entrepreneurs feel they lack support for expanding their operations.
“We have many organizations and services designed to help businesses. The question is whether they know growth-oriented companies well enough to support them effectively,” Pentikäinen reflects.
Entrepreneur Gallup
The Entrepreneur Gallup was conducted by Verian on behalf of the Federation of Finnish Enterprises. A total of 1,351 representatives of SMEs responded between May 6–19, 2025. The margin of error for the results is ±2.7 percentage points.
Pictured: Mikael Pentikäinen, CEO of the Federation of Finnish Enterprises. Photographer: Aki Loponen.
