Poll: Trump’s policies affecting one in two Finnish SMEs

One in two SMEs says the actions of US President Donald Trump are affecting their business. Four per cent report major effects, 20% say the impact is moderate and 26% say it is minor. Meanwhile, 45% report no impact.

“The results show how interconnected the world is. A great-power leader across the ocean can have wide-ranging negative effects on the operations of an SME, as we have seen again in recent days. That is why it matters for SMEs that Finland can navigate international politics in major storms, that the EU seeks new markets through trade agreements and improves the functioning of the single market,” says Mikael Pentikäinen, the CEO of Suomen Yrittäjät, the Finnish SME association.

Trump’s impact is felt particularly in industry and in companies employing at least five people. The effects are largely viewed as negative. Thirty-eight per cent of SMEs say Trump’s actions have had a negative impact on their business, while only 2% report positive effects.

The Yrittäjägallup survey was carried out by Verian on behalf of Suomen Yrittäjät between 2 and 9 Feb.

Most visible in these sectors

The negative effects are most pronounced in industry and in the retail sector. Business owners who support the Finns Party report the fewest negative effects. Those supporting the National Coalition Party report the most negative effects.

“This is partly explained by the fact that support for the NCP increases among business owners as company size grows,” Pentikäinen says.

Respondents say the US policy areas with the greatest impact on their companies are relations with Europe (31%), trade policy (30%), the war in Ukraine (26%), climate policy (24%) and developments within NATO (21%).

“US–Europe relations and US trade policy particularly stand out in responses from industrial companies when business owners assess how US policy affects their operations.”

Pentikäinen says business owners are watching EU–US relations closely.

“Business owners understand that these relations have major implications for trade, the economy and security. That’s why US Secretary of State Marco Rubio’s more moderate remarks in Germany recently were largely welcomed. At the same time, Trump’s continuing tariff confusion understandably worries many.”

Export-oriented industrial companies are in a particularly vulnerable position.

“Export-oriented industry is suffering most from the new direction of US policy.”

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