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Enterprises received EUR 1 billion in corona subsidies in 2021

review | Statistics on business subsidies 31.12.2021

According to Statistics Finland’s data, business subsidies were received by 60,872 enterprises in 2021. Of these direct subsidies were paid to 52,490 enterprises, loans were paid to 1,020 and guarantees were granted to 5,560 enterprises. The amount of subsidy recipients were smaller than year before but over double compared to time before the coronavirus pandemic.

Subsidies due to the coronavirus pandemic distributed mainly to service industries

Because of the economic downturn caused by the coronavirus pandemic, direct business subsidies amounted to EUR one billion, loans to EUR 258 million and guarantees to EUR 301 million. Of all direct subsidies paid due to the coronavirus pandemic, 71 per cent went to service industries. By size category, EUR 297 million of the subsidies were paid to micro enterprises, EUR 524 million to small enterprises, EUR 138 million to medium size enterprises and EUR 41 million to large enterprises. A total of 37,921 enterprises received some form of subsidies due to the coronavirus pandemic.

Of the direct subsidies, EUR 652 million were paid to compensate for fixed costs of enterprises hit by the coronavirus pandemic, EUR 122 million for closures or restrictions of business resulting from government decisions. Funding for business development in disruptive circumstances granted by Business Finland and ELY Centres amounted to EUR 216 million. Around EUR 10 million were allocated to restaurants for employment measures.

In construction, trade and services about 80 per cent of all direct subsidies were granted due to the corona pandemic, while in other industries the share was around 40 per cent or less.

Compared to the year before, the amount of direct subsidies paid due to the coronavirus pandemic fell by 22 per cent and that of guarantees by 58 per cent. The amount of direct subsidies also fell in all industries apart from service industries, where especially in accommodation and food service activities the amount of subsidies grew.

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