Helsingin Sanomat has written that 80% of new jobs created in Finland after the millennium have been created in growth companies according to the Confederation of Finnish Industries (EK). EK determines growth companies as those companies that are able to grow three years in row with an annual growth rate greater than 10%. Quite a conservative definition, but we have to remember we’re looking at all the companies across all different industries.
The problem is that there are still too few growth companies in Finland. Only 3% of all the companies managed to fall into this category, despite the very good economic cycle we’ve had. This in my opinion confirms the lack of passion and thrive to grow companies more rapidly. I believe it is also an indicator that we definitely need more education in this area.