Business closures hit record high in 2024 amid tax changes

A record number of businesses ceased operations in Finland in 2024, driven largely by the closure of sole proprietorships, according to new data from Statistics Finland.

The number of firms that shut down in the final quarter of the year reached 16,188, nearly double the figure from the same period in 2023. Of these, 11,310 were sole proprietorships, up from 4,654 a year earlier.