10 Business Opportunities and Ideas to Start in Finland as a Foreigner

Are there business opportunities for foreigners in Finland? The idea of starting a business as a foreigner living in Finland is majorly influenced by the country’s business-friendly economy. 

Government innovation and collaboration principles, modern logistics, and the country’s functional infrastructure make businesses thrive. This basically encourages more business investments and startups in the country.

Finland offers a vast wealth of investment opportunities for foreigners. The ecosystem is vibrant, and stable for foreigners to launch their own startups from its top industry of manufacturing to service delivery.

Ranked as #1 world’s happiest country, Finland, also offers a work-life balance for foreigners resulting in the movement of more global expats to live, and build businesses in Finland. 

What are the business opportunities in Finland? In this article, we have the obligation to show you the top 10 business opportunities you can start as a foreigner living in Finland.

10 Business Opportunities and Ideas to Start in Finland as a Foreigner

1. Textile Business

Finland is a pioneer in the textile business and industry. Official reports state that the Finnish Textile industry will be the most reliable and functional textile industry in 2035. Foreigners who are fashion-centric or interested in fabric creations, apparel retail sales, and general clothing ventures can launch a startup in this industry in Finland.

40,000 individuals are employed in the Finland textile industry with 33,000 dealing in the retail side of the business opportunity. The industry uses nature and technology to provide sustainability and create next-generation textile solutions.

2. Food and Food Technology

Finns also leverage agriculture and technology to increasingly redefine, develop and package food for the public. Finland is the largest producer of oats in the world. The country has perfect conditions for cultivating berries, crops and livestock. In all these, attention is paid to quality production. The Finns also have an efficient safety control system for food products and materials in place.

Foreigners who love good food, and would want to experiment can seize this opportunity to create their own food retail outlet, or food truck business or launch an online food company.

The Finns love and demand healthy, organic, traceable foods. Moreover, there are new and emerging markets for Finnish food products as the country takes the lead in culinary expertise and innovation.

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3. Tour Agency Business

There are interesting tourist attraction centres for expats and lovers of beauty in Finland. There are over 188,000 lakes, islands, rivers, and canals which made Finland to be nicknamed “the land of thousands of lakes”. 

Foreigners who have tour experiences within the country or personal interest in places and environments could channel their knowledge to creatively launch a tour or travel agency business for themselves in Finland.

4. Set Up a Mobile App Development Business

Mobile app development is another business opportunity in Finland. Foreigners with strong technical and software development skills can explore their competence in building a mobile app development company.

Finland focuses on supporting and investing in SMEs like mobile app development startups. Many companies are thriving in this business, such as Hyperlink InfoSystem, Cheesecake Labs, Tintash, Taiste, Innowise Group and many others. Mobile App aspirers should also have a good understanding of how to market and sell software (and mobile apps).

5. Open a Health and Wellness Related Business

One sector that is revolutionizing Finland is the health and medical industry. There are different health and wellness companies in Finland that offer optimal health products, cutting-edge wellness products and other medical services. Medical professionals residing in Finland can use this opportunity to start a business in the health, wellness and fitness market.

6. Start a Travel Agency Business

There are opportunities in the travel industry too which foreigners can tap from. You could become a travel agent to provide day trips services, package holidays and car hire services in Finland. You can also make money in Finland by offering custom travel, discount flights, hotels accommodation, virtual travel assistance and other related services. 

7. Smart Energy Business

Finland is a northern country with extreme climate conditions. It needs energy and electricity, therefore, it produces energy systems to balance the ecosystem and produce to maximise smart energy solutions for internal use and export trade. 

The energy sector contributes significantly to Finland’s export trade and is the global leader in renewable energy. Consequently, making it a hub for electricity and renewable energy business opportunities. Notable business and investment ideas in Finland include smart grids, energy-efficient buildings, virtual power plants, and energy storage appliances.

8. Launch Your Own E-commerce Business

Electronic commerce popularly known as e-commerce involves the activity of buying and selling goods and services via the internet. 

In Finland, the e-commerce market is very robust. There is a high internet penetration and 97% of the population accesses the internet. This contributes heavily to the growth of the e-commerce market.

The Finns rely heavily on foreign retailers for online purchases which opens an opportunity for foreign e-retailers to get customers if they can start their own e-commerce business by offering consumer-based products in a single or different category. 

However, Finland’s e-commerce market is grouped into B2C e-commerce which includes consumer goods like electronics, fashion and apparel, beauty and personal care, food and beverage, etc., and B2B e-commerce. To help you get started on your e-commerce journey, here’s a guide on how to start a successful e-commerce business from scratch.

9. Gaming Business

Are you a game lover? The gaming industry is on the rise in Finland. Even game companies are constantly on the lookout for new talents to employ. 

Iconic games like Angry Birds and Clash of Clans are Finland products. The country fosters a globally connected hub of game creatives which attracts top talent and investment in developing games in VR, AI apps and wearables.

Foreigners could take advantage of this opportunity to produce and sell video games, organised game talk shows or set up an online gaming platform amidst others gaming ideas in Finland.

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10. Start a Successful Blogging Business from Home

The strong internet network, reliable energy supply, supportive regulatory environment, and global market reach a big opportunity for foreigners who love information and communication. Blogging is one of the lucrative businesses that foreigners could take up and earn from. 

Researchers, students, entrepreneurs and the general public continuously seek information and blog post reads to account for 77% of internet use. Would you like to launch your own profitable blogging business today? Check out how to start a profitable blog that truly makes money.

The Major Challenges of Starting a Business in Finland as a Foreigner

As profitable as Finland can be, the business market can pose certain challenges to foreigners who seek to set up their own businesses. The common barriers you will face when starting a business in Finland are:

Language

Finnish and Swedish are the two commonly spoken languages in Finland. To get better acquainted and enjoy the vast opportunities, it is advisable to learn the language.

Culture

The Finnish are diehard cultural people so it is important for you to know the basic cultural pass for doing business in Finland.

Not Too Desirable Climate

The climate may not be the best for most foreigners but the Finnish manage their climate well.

Other barriers you might encounter when setting up a business in Finland are poor investor protection compared to other countries, rigorous tax payment systems, delay with construction permits and weak private bureau authorities.