Finland - Market ChallengesFinland-Market Challenges
Finland’s market is open and receptive to U.S. products and investments. There are relatively few barriers to trade. The overall size of the Finnish domestic market is relatively small. Consumers have high expectations in terms of product innovation, design, quality, and price.
Following the global economic crisis of 2008, Finland’s economy struggled to regain its footing. Finnish policymakers have been working to boost economic growth and competitiveness. Finland’s economy returned to growth in 2016 (+1.9%), 2017 (+2.6 %) and 2018 (+2.9 %) according to the Bank of Finland.
https://Bank of Finland
In 2016, the Finnish Government and the major labor unions reached agreement on a Competitiveness Pact that, for example, reduced paid holidays and froze wages. Nevertheless, companies seeking to set up operations in Finland should note that high taxes, regulatory red tape, and labor inflexibility still pose challenges to new business.