Solo-preneurs run businesses on their own. And it’s no longer a niche. In Finland and across the EU, they represent a growing force in business development. Low overhead, digital tools, and streamlined registration systems make it realistic to launch and run a professional business without employees. In addition, many European countries have introduced targeted benefits for solo-entrepreneurs, encouraging flexibility in the labor market and expanding economies.
Snapshot: How Common Are Solo-preneurs in Finland & the EU?
Finland is a country of micro-businesses. Enterprises with 0-4 staff account for 93.5% of all companies, and single-person firms make up around 70% of business owners nationwide. Business formation has been strong in Q2 of 2024 alone, 14,190 new enterprises were registered, many of them sole proprietorships. Across the EU, the number of self-employed workers is stable or modestly increasing, confirming that solo-preneurship is not just a Finnish phenomenon but part of a wider European shift toward independent work.
Why Finland & the Nordic Region Are Fertile Ground for Solo-preneurs
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Several systemic advantages make Finland and the Nordic region fertile ground for solo-preneurship:
Strong digital public services and transparent business registration: online business registers and publicly accessible guidance make it relatively simple to establish a sole proprietorship or limited company. Information about taxation, social security, and administrative obligations is clear, lowering barriers to entry.Healthy small-business ecosystem: Public funding, incubators, and networking opportunities mean that solo-preneurs who want to scale, experiment, or test international ideas have at least some institutional backing.High digital payment and banking adoption: Finnish and Nordic consumers are accustomed to mobile payments, e-invoicing, and digital transactions. This infrastructure benefits solo-preneurs, who can manage finances, invoice clients, and receive payments quickly without requiring expensive systems.Strong social safety net and regulated insurance environment: Finland’s YEL pension insurance system, along with clearly regulated entrepreneur insurances, provides clarity around statutory obligations. While some entrepreneurs criticize the costs, the framework ensures that solo-preneurs are integrated into the national social safety net, reducing the risks associated with self-employment.
Yet, there is a harder truth: although Finland is full of small, independent proprietorships, many of them fail. The domestic market is small, competition is tight, and policy structures often favor larger companies. For solo-preneurs, survival means more than just registering a business, it requires resilience, adaptability, and the willingness to look beyond Finland’s five-million-person market.
Beyond Borders: The Real Growth Opportunity
Solo-preneurship is about flexibility and freedom, but in Finland, success increasingly depends on scale. Geography is no longer a limit. A solo-preneur in Tampere or Helsinki can build a client base in Berlin, Stockholm, or New York. To truly thrive, Finnish entrepreneurs must think internationally from the very beginning. That means embracing digital platforms, cross-border collaborations, and export-oriented mindsets rather than relying only on local customers.
Yet the reality is that many Finnish businesses, especially new and small ventures struggle to survive when operating solely within the domestic market. For example, historical data shows that about 50-55% of new companies founded in Finland are still in operation after five years. Even more stark is that approximately one-third of new businesses close within three years, showing how the early years are particularly critical.
These figures underline why internationalization is not just an opportunity, but almost a necessity for many solo-preneurs. By tapping into global markets, entrepreneurs can offset the constraints of a small home base, access larger pools of customers or clients, and build more resilient business models. Thinking beyond borders is what separates short-lived ventures from those that scale, sustain, and stay relevant beyond the early fragile years.
Solo-preneurship as a buffer against unemployment
This discussion has particular urgency given Finland’s labor market context. Finland has recently recorded the second-highest unemployment rate in the European Union, behind Spain. In this environment, solo-preneurship can serve as a critical buffer: individuals who cannot find traditional employment may be able to create their own opportunities through self-employment.
Beyond the direct impact on unemployment statistics, solo-preneurship fosters empowerment, skill acquisition, and broader economic resilience. Running a solo business often forces individuals to develop expertise in finance, marketing, customer relations, and digital tools. Competencies that enhance overall employability, even if the business itself does not survive long-term. Moreover, regions with a high density of solo-preneurs benefit from economic spill-overs: the creation of new services, greater competition, and in some cases, the eventual emergence of small enterprises that employ others.
Still, solo-preneurship is not a cure-all. Many solo businesses fail, and without policy intervention — such as access to financing, mentoring, reduced administrative burdens, and social protections tailored to the self-employed — solo-preneurship risks becoming a revolving door of unstable work.
The way forward
If Finland wants to remain competitive in a globalized economy, it must double down on support for flexible entrepreneurial models. This means acknowledging that entrepreneurship today is diverse, not one-size-fits-all, and that solo-preneurs form the backbone of the Finnish SME sector. Supporting them does not just benefit individuals, it strengthens the economy as a whole by fostering innovation, resilience, and cross-border connections.
For individuals, the lesson is equally clear: in Finland, it is possible to succeed as a solo-preneur, but survival and growth require thinking beyond borders. The small size of the domestic market makes internationalization not just an option but a necessity. By combining the agility of solo-preneurship with the scale of global networks, Finnish entrepreneurs can build ventures that are resilient, borderless, and future-proof.
The future of work is already here. People are demanding flexibility, autonomy, and the chance to create value on their own terms. Solo-preneurship is not a fallback option, it is a forward-looking strategy that, if properly supported, could help Finland transform its unemployment challenge into an opportunity for innovation and global relevance.
Dean DiNardi, Dean’s Digital Hub