In June 2022, Dun Bradstreet's sales director, Pasi Leino, said the increase in bankruptcy rates began in June 2022, which was not surprising given the economic turbulence that has occurred recently. The economy has been hit by the pandemic, inflation, rising energy and raw material prices, and supply chain problems. Despite these difficulties, there are positive signs that bankruptcy rates are stabilizing.
Pohjanmaa, Lappi, and Etel Savo have experienced positive trends with a drop in bankruptcy rates compared to the previous year, with 22%, 18%, and 11%, respectively. In certain regions, such as Ahvenanmaa, Kymenlaakso, P ij t-H me, and Kanta-H me, there has been an increase in bankruptcy rates. The decrease in bankruptcy rates for Ahvenanmaa is not statistically significant due to the low number of bankruptcies.
Dun Bradstreet's data also shows that bankruptcy rates have increased the most in the IT communication industry 34% retail 34% construction 28% and accommodation and food services 24% Leino said that the tightening of financing at the same time as the increase in costs may be due to the tightening of financing.
In densely populated areas, the accommodation and food services industry has experienced a more severe impact on the economy than in sparsely populated areas. The number of bankruptcies in this sector has been decreasing, but it appears to be slowing down.
Leino emphasizes that not only small businesses but also large firms are facing bankruptcy, and it's crucial to carefully monitor suppliers and customers for a more accurate forecast of the future. He also notes that the number of companies starting up is still the same rate as in previous years. The majority of new business ventures were launched in densely populated areas like Uusimaa, Varsinais-Suomi, and Pirkanmaa.
In tough times when people lose their jobs, the number of new businesses tends to increase, as is evident in the construction industry. To make informed business choices, it is crucial to monitor and analyze the current economic situation and trends.