A recent Entrepreneur Gallup survey reveals that NATO membership is the primary factor driving small and medium-sized enterprises (SMEs) to invest more in Finland. The net impact of NATO membership on investment willingness is 32 percentage points. According to Mikael Pentikäinen, CEO of the Federation of Finnish Enterprises, these results indicate that NATO membership is important for companies in Finland and that the membership is perceived to enhance stability. The importance of security and predictability is emphasized in investment considerations.
Other factors that particularly increase investment willingness in the industrial sector are:
- Predictable operating environment (net impact +30 percentage points)
- Energy availability (+19 percentage points)
- Security (+16 percentage points)
- Infrastructure (+12 percentage points)
The Entrepreneur Gallup was conducted in August, with 1,112 representatives from micro and SMEs participating, of whom 45 percent were sole proprietors. The margin of error for the results is ±2.9 percentage points.
Increased Importance of Energy Availability
The positive effect of energy availability on investment willingness has increased from the previous measurement conducted in April 2024, with growth at 21 percentage points. Additionally, the positive impact of infrastructure has significantly increased.
Other factors with a more positive impact on investment willingness than before include workforce quality and energy prices. Although these still have a negative net impact, the negative balance has noticeably decreased.
Main Investment Barriers
According to the Entrepreneur Gallup, the biggest barriers to investment are:
- Trade union activities (net impact -54 percentage points)
- Growing public debt (-50 percentage points)
- Taxation level (-49 percentage points)
- Port labor disputes and economic outlook (-47 percentage points)
The negative impact of trade unions has decreased since spring, during which Finland experienced widespread political strikes. However, trade union activities remain a factor reducing investment willingness, particularly among companies with more than ten employees (balance -68 percentage points) and in the industrial sector (-79 percentage points). Mikael Pentikäinen hopes these results will prompt union leaders to reflect on their actions, as it is ultimately Finnish workers who benefit from growing, investing companies.
Furthermore, many SMEs are concerned about public finances and economic outlooks. Entrepreneurs broadly support efforts aimed at improving public finances.
