Business subsidies increased manifold in 2020

According to Statistics Finland’s data, direct business subsidies were paid to the amount of EUR 1,750 million in 2020, which is 268 per cent more than one year earlier. Of direct subsidies, EUR 1,278 million were paid as a result of the economic downturn and EUR 471 million as ordinary subsidies. The amount of paid loans decreased by 16 per cent and amounted to EUR 264 million. The amount of guarantees doubled to EUR 1,658 million, of which 43 per cent were granted due to the economic downturn. Business subsidies covered 63,767 enterprises, of which 57,875 received direct subsidies in 2020.

Paid direct subsidies, loans and guarantees granted in 2015 to 2020

The majority of the subsidy recipients were micro (69%) and small enterprises (28%). Examined by industry, the highest numbers of recipients were found in service industries (47%) and trade (15%). In euros, subsidies were received most by small enterprises, whose sum of subsidies also grew most in relative terms compared to 2019. Among the industries, service industries received most direct subsidies, but compared with the previous year, the amount of subsidies grew most in relative terms in the construction industry. Due to the economic downturn, subsidies were paid most to service industries. Of the direct subsidies of EUR 832 million in service industries, 83 per cent were paid due to the economic downturn.

The enterprise size had a strong effect on the size of the subsidy paid to the enterprise. Micro enterprises received, on average, EUR 14,700 in direct subsidies per enterprise, small enterprises EUR 49,900, medium-size enterprises EUR 136,700 and large enterprises EUR 300,800. Manufacturing industries received subsidies to the tune of EUR 66,600 per enterprise and other industries EUR 26,200.

The statistics are composed of loans and guarantees granted by Finnvera, subsidies and loans paid by Business Finland, cost support paid by the State Treasury, subsidies paid by the Development and Administration Centre to food service enterprises and direct subsidies paid by the Ministry of Economic Affairs and Employment , ELY Centres and the Ministry of Agriculture and Forestry. The statistics do not include agricultural subsidies or various tax subsidies. The data are discussed in more detail in the review.

Source: Statistics on business subsidies, Statistics Finland

Inquiries: Tommi Veistämö 029 551 3546, tiede.teknologia@stat.fi

Head of Department in charge: Katri Kaaja

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Subsidies centre on small service enterprises (28.4.2021)

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Updated 28.4.2021

Referencing instructions:

Official Statistics of Finland (OSF): Statistics on business subsidies [e-publication].
2020. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/yrtt/2020/yrtt_2020_2021-04-28_tie_001_en.html