SY and Fennia campaign puts solo entrepreneurs in spotlight

Over 70% of business owners in Finland are solo entrepreneurs.

Solo entrepreneurs play a significant role in Finnish society. Without solo entrepreneurs, many services would not exist and many neighbourhoods, villages and cities would be much quieter.

“Solo entrepreneurs deserve their place in the limelight. That’s why Suomen Yrittäjät and Fennia are running a campaign, Together for Solo Entrepreneurs, to highlight solo entrepreneurs’ importance for society,” says Marianne Ruusunhelmi, a specialist at Suomen Yrittäjät, the Finnish SME association.

The Together for Solo Entrepreneurs (“Yhdessä yksinyrittäjien puolella”) campaign is running on the social media accounts of Suomen Yrittäjät and the insurer Fennia, as well as in both organizations’ other communication channels. The campaign contains advertisements and interview videos in which solo entrepreneurs talk about the joys and challenges of running a business by themselves, as well as sharing tips for fellow solo entrepreneurs.

“Fennia’s roots are deep in entrepreneurship. Through the campaign videos, we want to put these business owners and their businesses in a variety of industries and roles front and centre, while also stressing how important entrepreneurship is for the advancement and welfare of society,” says Kirsi Frilund-Holm, Marketing Manager at Fennia.

“Large group of courageous people”

Statistics Finland numbers show that there were around 180,000 solo entrepreneurs in Finland in 2024. The number of solo entrepreneurs has declined steadily since 2022. From 2023 to 2024, the number of solo entrepreneurs dropped by 5,000. The largest annual drop in solo entrepreneur numbers, of almost 10,000, occurred in 2023. That was also when the amended Entrepreneur’s Pension Act came into force.

Of all the business owners in Finland, 72% are solo entrepreneurs.

“This is a large group of courageous people who are bearing responsibility for themselves and have dared to create work and an income for themselves, and often for a subcontractor network,” says Ruusunhelmi of Suomen Yrittäjät.

Ruusunhelmi says that solo entrepreneurship enriches the world of work by creating diverse new ways to work.

“The value of entrepreneurship is not determined by the size of the business. Not all solo entrepreneurs even want to grow, but those who do should be given the opportunities to do so. Even if the business consists of just one person, they shouldn’t have to go it alone. Community and networks are a solo entrepreneur’s most important resources.”

Ruusunhelmi says solo entrepreneurship means the freedom to chase one’s dreams and do work on one’s terms.

“Society needs to recognize solo entrepreneurs’ reality. Social security, taxation and business services must be designed with better support for solo entrepreneurs in mind.”

You can check out the campaign videos and other materials here.

Finnish solo entrepreneurs among most likely to work in retirement in EU

Almost 90% of Finnish solo entrepreneurs continue working in retirement.

Finnish solo entrepreneurs are among the most likely in the EU to work in retirement. Eurostat figures show that 88% of Finnish solo entrepreneurs continue working after retirement.

Finland comes second, after Sweden, in these statistics. Almost all Swedish solo entrepreneurs (98%) keep working after retirement. Next in the league table are Ireland, Lithuania and the Netherlands.

At the other end of the list are Spain and Greece. Only 18% of Spanish solo entrepreneurs continue working after retirement, while in Greece the figure is 20%.

The average percentage of solo entrepreneurs’ continuing to work after retirement, not only in all EU countries, but also in the Eurozone, is around 56%.

The Eurostat statistics do not shed any light on the reasons for continuing to work after retirement.

“Is work the most engaging here or is pension security the weakest,” Juhana Brotherus, a Vice President and Chief Economist at Suomen Yrittäjät, wondered on X.

Explore the statistics in more detail here.

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