Finland sees 20.5% more enterprise closures in Q1

There were 12,691 enterprise closures in January to March 2024 and the number is 20.5 percent higher compared to the number in the first quarter of the previous year, according to Statistics Finland.

At the same time, enterprise openings numbered 12,852. In January to March 2024, the number of enterprise openings was 4.5 per cent higher than the stipulated period in last year.

The numbers of enterprise openings and closures were highest in the comparable history of the statistics starting since 2013.

In the first quarter of 2024, the number of enterprise closures in human health and social work activities increased by 57.6 per cent from the corresponding period of the previous year.

In construction and arts, entertainment and recreation, the number of enterprise openings decreased by about 20 per cent compared to the corresponding period of the year before, while the number of enterprise closures increased by over 20 per cent at the same time.

In the first quarter of 2024, one third more limited companies closed down than twelve months earlier.