The Time to Transform is Now: Finnish Companies Are Unprepared for a Future Downturn

Mikko Nieminen Otso Ojanen

Every day we are presented with newer and more abundant evidence that economic troubles lie ahead. After a period of consistent and considerable growth, consensus is growing among business leaders and experts that the global economy is approaching a time of stagnation or even contraction. Weakening consumer confidence, shrinking appetites for investment, decreasing global trade, and increasing debt levels are but a few of the present indicators suggesting an impending global downturn. With the successes and failures of national economies ever more deeply entwined, no country is immune to these global trends, least of all Finland. Given the strong correlation between global economic growth and Finland's own economic performance, the impacts of a global downturn on Finland would be significant.