It’s no secret that the Scandivanians and Nordics do things well. All you have to do is look at some of the companies that launch from that part of the world. Nokia, IKEA, Nokia, and Volvo are just three examples of huge businesses headquartered in the Nordics. Of course, business isn’t new to Finland, but there has been a dramatic rise in the number of online startups and those prioritizing the Finnish market.
In this article, we look at why Finland is one of the newest hubs for online startups. In addition, we look at business benefits in Finland and whether or not we expect this trend to continue.
The Pros to Launching in Finland
One of the main appeals to launching a startup in Finland is the government’s incentives. As a country, Finland wants to compete with Sweden and Denmark, both of which are famous for producing some of the best names in tech. Because of this, they have many grants, funds, and tax incentives. It could be considerably cheaper for businesses to choose Finland as their home for this reason, but it would need to be compared to the alternatives to know for sure.
The Finnish market is a very valuable one, and this has been well utilized by online casinos, called nettikasino in Finland. High salaries and an outstanding work-life balance mean that the Finnish population is wealthier than most other parts of the world - this means higher value purchases and more sales. Both are great things for a startup business. There are also many banking options, notoriously faster and more efficient than most other parts. Methods like Zimpler and Trustly are utilized in Finland, but not as much in other countries.
The quality of life in Finland is also something to take into consideration as an entrepreneur. If you’re going to open a startup and try to make it work, a great environment can make a massive difference to your mental health and chances of success. The pros of launching a business in Finland can be financial, environmental, and even health-based.
Alternatives to Finland
Most startups and online businesses want to go where the tax is lowest, and so there are better options than the Nordics in that sense. Places like Malta, Gibraltar, and Andorra have some of the lowest corporate tax percentages globally and are home to many businesses. The large majority of gambling businesses are headquartered in these countries.
There are also some challenges with the climate in Finland** - which can be extremely cold in winter. It’s not for the faint-hearted, and many people prefer the benefits of a warm Mediterranean lifestyle by launching their startups in other parts of Europe.
When deciding where to launch your startup, consider the costs involved, the potential for success, and the quality of life for you and your employees. Finland ticks almost all of these boxes, which is why it’s becoming a hub for online startups. We expect things to continue in this way for many years to come.