Room for Growth public online survey generated over 700 responses

A public online survey inviting proposals for boosting economic growth, part of the Room for Growth project launched by Prime Minister Petteri Orpo, has attracted a lot of interest. Over five hundred organisations and private individuals submitted more than seven hundred responses in four weeks.

In addition to the promotion of business in general, the responses emphasised measures to strengthen research and development, and to enhance the commercial exploitation of the results.

The online survey, carried out by Motiva, was open from 28 October to 24 November 2024. It attracted 781 responses from 571 respondents, 28 per cent representing organisations and 72 per cent private individuals. The respondents covered a wide range of businesses and social actors, including industry, higher education institutions, high-growth companies, civil society organisations and interest groups, investors, and municipalities and regions. All responses have been submitted to the expert group leading the Room for Growth project.

A summary of the responses shows that most respondents were concerned with the promotion of business activities and measures to strengthen research and development. Many also focused on business funding, availability of skilled labour, and promoting the green transition and exports. In these areas, the ideas most often involved direct subsidies and various forms of public-private sector cooperation.

Deregulation promoted as means to facilitate employment

With regard to the general business conditions, deregulation and cutting red tape, including simplifying permit and recruitment processes, were seen as key means of facilitating employment and the smooth running business operations. The respondents also highlighted support to relevant education and training and continuous learning initiatives that would respond to the needs of employers. Labour migration was seen as the quickest and most effective way to increase both the quantity and quality of the labour force. Streamlined immigration processes, faster permit procedures and more extensive integration services were some of the measures proposed in this area.

Many respondents saw the commercial application of research results as a bottleneck in making the most of research and development. With regard to the R&D funding model, some respondents asked for more clarity and a lifecycle approach that would help higher education institutions and companies work together to turn ideas into commercial products more efficiently. SMEs in particular would need more knowledge and skills to deal with intellectual property rights.

Taxation should support business investment and venture capital

With regard to business funding, the responses drew attention to the central government's role in developing venture capital funds, and to the importance of venture capital especially for early-stage growth companies. Several respondents said taxation should be used to boost business investment and venture capital. The support could include tax deductions for investment and R&D, and tax incentives for small enterprises.

With regard to the green transition, the respondents stressed investment in infrastructure and clean technology development. To support these areas, improvements in regulation and tax incentives were proposed. In exports promotion, the respondents called attention to efficient marketing and brand building to help differentiate Finnish products from their competitors. Other proposals included improving logistics and easing taxation in order to increase exports and improve the competitiveness of SMEs.

Many interested parties have also sent their opinions and proposals in writing directly to the expert group leading the Room for Growth project. The opinions can be viewed on the Room for Growth project website.

Inquiries: Room for Growth project secretariat: Pekka Sinko, Secretary General, Economic Council, +358 295 160 189; Saara Tamminen, Chief Specialist, +358 295 160 895, Prime Minister's Office
Motiva: Elli Saari, Specialist, +358 50 359 3385
The email addresses of the Finnish Government are in the format [email protected]