Global Entrepreneurship Monitor 2025/2026 Finnish Report

Foreword

Entrepreneurs and new businesses are widely recognised by academics and policymakers as vital drivers of economic development, innovation, and societal well being. Their role in strengthening national economies has become increasingly important. Since the previous Finland specific Global Entrepreneurship Monitor (GEM) report was published in 2021/2022, this new national report provides timely and valuable insights into how Finnish entrepreneurship has evolved. The findings draw on the views of both the working-age population and national entrepreneurship experts.
The GEM Finland 2025/2026 report is based on two complementary data sources: the National Expert Survey (NES) and the Adult Population Survey (APS), both conducted in spring 2025. Together, these surveys offer a comprehensive picture of key aspects of entrepreneurship in Finland, including the quality of the entrepreneurial environment, public attitudes towards entrepreneurship, and the characteristics and motivations of Finnish entrepreneurs. The combined results of the APS and NES provide a unique opportunity to assess the current state of the Finnish entrepreneurship landscape and to compare it with neighbouring GEM countries such as Sweden, Norway, Estonia, Latvia, and Lithuania.
Entrepreneurship plays a pivotal role in shaping resilient, innovative, and future oriented societies. As economic conditions evolve and uncertainty becomes a persistent feature of global markets, countries increasingly rely on entrepreneurial activity – not only as a source of new jobs and economic renewal, but also as a mechanism for addressing profound societal transitions such as digitalisation, demographic change, sustainability, and regional vitality. Against this backdrop, the GEM Finland 2025/2026 National Report provides an essential, research based window into the current state of entrepreneurial attitudes, activities, and ecosystem conditions in Finland.
This year’s results portray a country with strong structural foundations for entrepreneurship yet facing a clear need to mobilize and activate its entrepreneurial potential. Finland continues to excel in areas such as physical infrastructure, education, digital readiness, and the availability of professional and commercial services. These are long-standing national strengths and remain internationally competitive. At the same time, the report highlights several challenges that require attention. Entrepreneurial intentions, opportunity perceptions, and growth expectations remain comparatively low, and the fear of failure has risen significantly, acting as a major psychological barrier for many potential entrepreneurs. A persistent gender gap continues to limit the full utilisation of national entrepreneurial potential, and regional and demographic disparities remain visible despite improvements in data coverage.
The findings also reflect broader societal transitions. Entrepreneurs increasingly weigh social and environmental considerations in their decision-making, yet many struggle to translate sustainability ambitions into concrete targets and measurable actions. Digitalisation and artificial intelligence are widely recognised as important themes at the system level, but surprisingly, their practical adoption among Finnish entrepreneurs – especially in smaller firms – remains cautious. These types of gaps between readiness, opportunity, and implementation point to the need for targeted policy interventions and ecosystem collaboration.
The renewed participation of Finland in the Global Entrepreneurship Monitor enables international benchmarking and the identification of areas where Finland leads, as well as where improvement is needed. Nordic and Baltic comparisons illustrate that Finland’s ecosystem remains among the most balanced and well functioning in the region, yet cultural attitudes towards entrepreneurship and the perceived relevance of policy support lag some peers. Likewise, comparisons with other high-income countries show that while Finland offers excellent conditions for building a business, more work is needed to encourage individuals to take the first entrepreneurial steps and to support emerging firms in scaling and internationalising.
We hope that this report will encourage dialogue, inspire new policies, and support actions that strengthen Finland’s entrepreneurial capacity. By combining strong institutional foundations with a more dynamic, inclusive, and opportunity driven entrepreneurial culture, Finland can unlock significant untapped potential – especially among women, youth, and emerging sectors – and contribute to sustainable, innovation-driven growth.
We extend our sincere appreciation to all partners and sponsors whose valuable contributions made the Global Entrepreneurship Monitor 2025/2026 Finnish Report possible. Their support will be acknowledged in detail in the following Acknowledgements section.

Matti Muhos,
Lead
GEM Team Finland
Professor, Director
Kerttu Saalasti Institute
University of Oulu

Elina Varamäki,
Co-Lead
GEM Team Finland
Vice President Seinäjoki University
of Applied Sciences