Latest figures: bankruptcies on the rise

The start of 2018 was a particularly tough time for Finnish businesses.

File photo: economy, finance, business and banking / Credit: iStock Photo

There’s been a large increase in the number of Finnish companies filing for bankruptcy, despite the relative good health of the economy overall.

The latest figures from show a 16.9% increase between 2017 and 2018.

According to Statistics Finland, the number of bankrupt businesses increased in all sectors, except manufacturing and the mining industry.

The first quarter of 2018 was particularly hard for Finnish business, with a 61.2% increase in bankruptcies.

However, officials caution that figure might have looked high because of the relatively low number of bankruptcies during the corresponding period in 2017.