Suomen Yrittäjät: Time to raise the bar in Finland with five paths to growth

Suomen Yrittäjät, the Finnish SME organization, is challenging the whole of Finland to raise the bar. This means daring to make structural reforms that support growth and to cut public spending. The Suomen Yrittäjät representative council wants to see the public sector focusing on its core tasks, doing them properly, and refraining from competing with businesses.

“Raising the Bar” is the theme of the Suomen Yrittäjät 2023 parliamentary election manifesto. Raising the bar concerns everyone: the public sector, political decision makers, businesses and employees.The thematic manifesto will be published on Tuesday, on the same day as the Suomen Yrittäjät representative council meeting.

“Finland’s growth comes from the growth of Finnish businesses. To grow, a business owner needs stable, competitive taxation, skilled labour and light bureaucracy. Public finances must be in order. The higher public debt is, the more taxpayer money is spent on servicing that debt,” says Mari Laaksonen, chairperson of the Suomen Yrittäjät representative council.

“Political decision makers must implement an ambitious growth policy that strengthens the growth of the Finnish economy. There’s room to raise the bar here. At the same time, spending must be prioritized and adjusted. In particular, we have to be able to cut spending that slows down businesses’ growth and employment. Social and unemployment security must be reformed to encourage people to work,” Petri Salminen, chairperson of the board of Suomen Yrittäjät, demands for his part.

“Equally, we have to ensure the stability and predictability of businesses’ operations in Finland. This is particularly important with so much uncertainty in the world,” Laaksonen says.

Suomen Yrittäjät says that Finland’s investment in businesses’ development is disturbingly low compared to peer nations. Suomen Yrittäjät calls on the next Finnish government to increase public investments in research and development and to encourage SMEs to increase their R&D investments.

Suomen Yrittäjät: 5 key paths to growth

1. End public indebtedness. Begin fiscal adjustment.

2. Reduce corporate and income tax. Introduce a predictable, stable taxation policy.

3. Implement reforms that strengthen productivity and employment, such as labour market reforms.

4. Invest in skills: in particular, offer opportunities for re-education.

5. Increase SMEs’ R&D investments.

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