Number of enterprise closures continues to rise fast

The number of enterprise openings fell by good six per cent in the last quarter of 2008. Examined by industry, the number of enterprise openings was highest in real estate and business activities, and by region relative to the enterprise stock in Uusimaa. The number of enterprise closures rose significantly in the third quarter of 2008, by 28 per cent from the corresponding quarter of the year before. The highest numbers of enterprise closures were also recorded in real estate and business activities and in the region of Uusimaa. Examined by legal form, there were 17 per cent more closures of enterprises of the corporate form of natural person and as many as 44 per cent more closures of enterprises of the corporate form of limited company than in the respective period of the previous year.

Enterprise openings, 4th quarter of 2008

According to Statistics Finland, there were 6,651 enterprise openings in the fourth quarter of 2008. Enterprise openings decreased by 6.3 per cent from the corresponding quarter of 2007 when they numbered 7,100. Enterprise openings accounted for 2.1 per cent of the total stock of enterprises in the last quarter of 2008.

The number of enterprise openings was highest in real estate and business activities where they totalled 2,025, or 30.4 per cent of all enterprise openings in the last quarter. In trade, enterprise openings numbered 1,236 (18.6%) and in construction 957 (14.4%).

Examined by region, the number of enterprise openings was highest in Uusimaa, where they totalled 2,351. Uusimaa and Kymenlaako had the highest proportions of enterprise openings relative to the size of the enterprise stock, 2.5 per cent in both.

Examined by municipality, Helsinki (1,274), Espoo (329), Tampere and Vantaa (264 in both) and Turku (243) had the highest numbers of enterprise openings in the last quarter of 2008. Compared to the last quarter of 2007, enterprise openings increased most in Kouvola (56) and decreased most in Espoo (30).

Enterprise openings, 4th quarter, 2001-2008

Enterprise closures, 3rd quarter of 2008

According to Statistics Finland, there were 5,578 enterprise closures in the third quarter of 2008. Compared to the third quarter of the year before, enterprise closures increased by 27.9 per cent, as in the third quarter of 2007 they numbered 4,362. Enterprise closures accounted for 1.8 per cent of the total stock of enterprises in the third quarter of 2008.

The number of enterprise closures was highest in real estate and business activities, where they totalled 1,549 (27.8%). In trade, enterprise closures numbered 1,199 (21.5%) and in construction 920 (16.5%).

Examined by region the number of enterprise closures was highest in the third quarter of 2008 in the region of Uusimaa where they totalled 2,099. Relative to the enterprise stock the number of enterprise closures was also highest in the region of Uusimaa (2.3%).

Examined by municipality, Helsinki (1,039), Espoo (319) and Vantaa (231) had the highest numbers of enterprise closures in the third quarter of 2008. Compared to the third quarter of 2007, enterprise closures increased most in Helsinki (308) and Espoo (94) and decreased most in Raahe (10).

Enterprise closures, 3rd quarter, 2001-2008

Source: Business Register: Enterprise openings and closures. Enterprise openings, 2008 4th quarter; enterprise closures, 2008 3rd quarter. Statistics Finland

Inquiries: Marketta Kaskirinne-Salo (09) 1734 3542, Janne Peltola (09) 1734 2929, yritys.rekisteri@stat.fi

Director in charge: Hannele Orjala

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Updated 05.02.2009

Referencing instructions:

Official Statistics of Finland (OSF): Enterprise openings and closures [e-publication].
ISSN=1799-2346. 4th quarter 2008. Helsinki: Statistics Finland [referred: 22.12.2024].
Access method: http://www.stat.fi/til/aly/2008/04/aly_2008_04_2009-04-30_tie_001_en.html