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SME barometer
TWICE A YEAR, THE FEDERATION OF FINNISH ENTERPRISES, FINNVERA AND THE MINISTRY OF EMPLOYMENT AND THE ECONOMY COLLABORATE TO CON- DUCT THE SME BAROMETER SURVEY THAT DESCRIBES THE OPERATION AND OPERATING ENVIRONMENT OF SMALL AND MEDIUM-SIZED ENTERPRISES. THE BAROMETER IS PUBLISHED AS BOTH NATIONAL AND REGIONAL REPORTS. THE FINNISH MARKET RESEARCH COMPANY TALOUSTUTKIMUS OY IS RESPONSIBLE FOR THE COLLECTION OF INFORMATION.
THE NATIONAL REPORT DISCUSSES THE RESULTS FROM THE POINT OF VIEW OF THE SME SECTOR AND ALSO BY MAIN SECTOR, DIVIDED INTO INDUSTRY, CONSTRUCTION, TRADE AND SERVIC- ES. THE REGIONAL REPORTS COMPARE DEVELOPMENT ESPECIALLY BETWEEN COMPANIES IN THE PARTICULAR RE- GION AND THE ENTIRE COUNTRY.
THE SME BAROMETER HAS BEEN REMODELLED TO BETTER RECOGNISE A GROWTH-ORIENTED APPROACH, INTERNATIONALISATION AND DIGITAL BUSINESS ACTIVITY IN COMPANIES. THE SME BAROMETER CONDUCTED IN THE SPRING OF 2015 IS BASED ON RE- SPONSES FROM REPRESENTATIVES OF 4,400 SMEs. THEREFORE IT PROVIDES A COMPREHENSIVE PICTURE OF THE UNDERSTANDING IN FINNISH SMEs OF CHANGES IN THE ECONOMIC OPERAT- ING ENVIRONMENT AS WELL AS THE FACTORS AFFECTING COMPANIES' BUSINESS ACTIVITIES AND DEVELOP- MENT PROSPECTS.
had increased their innovation activity or production and product development during the previous year, and almost 50 per cent intended to do so during the follow- ing year. Only 26 per cent of all SMEs intended to in- crease their innovation activity within the following year.
THE EMPHASIS OF FINANCING NEEDS IS ON DEVELOPMENT PROJECTS
Financing needs, investment targets and collaterals for loans in companies that rely on digital business activ- ity differ essentially from those of industrial companies based on traditional xed investments. Correct timing and speed of nancing solutions are also emphasised in digital business activity that is constantly competitive and fast changing globally.
About 30 per cent of digitally oriented companies intend- ed to use external nancing in the following year, whereas the share of all SMEs was one fth. The intention to use external nancing among digitally oriented companies was higher than among companies in all sectors.
Financing was most commonly sought for working cap- ital, also by digitally oriented companies. Investments in machines and equipment were clearly rarer in digital com- panies than in other SMEs. Almost 40 per cent of digitally oriented companies sought nancing for projects devel- oping the company but only one fth of all SMEs did the same. There was also an emphasis on nancing interna- tionalisation and exports in digitally oriented companies.
CONCLUSIONS
There is an increasing need for knowledge to support economic policy and to assess its effectiveness. Many policy measures in the elds of both nancing and in- novations are directed above all at SMEs. Especially the SMEs that use digital tools and seek strong international growth are at the centre of economic policy.
With help of the remodelled SME barometer, it is possi- ble to nd out and monitor the growth and internation- alisation of SMEs comprehensively and shed light on the problems related to these issues. Additionally, it is possi- ble to monitor more ef ciently the increase and interna- tionalisation of scalable business activity relying on digital tools in companies. The reform of the barometer hence provides new, valuable tools for economic policy.
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