The Finnish government launches a 15 billion euro COVID19 emergency support package for Finnish companies

Updated 20.3.2020: the Finnish government increased the budget of emergency measures from 5 to 15 billion euro

A printable pdf version of this report is available here

The impact of the outbreak on the Finnish games industry

The planned emergency actions for supporting the companies struggling with the outbreak:

Please note that most of the text below is based on an unofficial translation from Finnish to English and may thus not be 100% accurate.

1. BUSINESS FINLAND: emergency actions by Business Finland R&D loan and grant instruments

Ongoing projects –more flexibility on project changes:

150 million euro through new emergy funding instruments for SMEs and midcap companies in danger due to COVID19 outbreak

If you know how to tackle a COVID19 related problem, now is time to act: normal Business Finland R&D support actions are open for companies with novel and innovative solutions, technologies and innovations that could help in treating, testing, monitoring or targeting any other aspect of the outbreak.

For more information, please visit:

2. FINNVERA: Emergency actions by Finnvera loan guarantee instruments

Increased flexibility for reorganising financing 

Increasing the corporate loan portfolio from 2 billion to 12 billion EUR in 2020

For more information, please visit:

3. ELY: Centers for Economic Development, Transport and the Environment (ELY-keskus) entrepreneur services and their de minimis grant instruments

Increased flexibility 

0,5 million euro investment in helping entrepreneurs to cope with the crisis caused by the outbreak

50 million euro emergency funding for companies 

For more information, please visit (in Finnish):

4. TESI: TESI equity investments

Extended funding: When needed TESI will provide extended funding for its investment funds and companies funded through them.

Stability fund: Together with private investors, TESI is preparing a stability fund targeted for companies facing challenges in access to equity funding due to outbreak. 

For more information, please visit:

5. OTHER FINANCING INSTITUTIONS: Emergy actions by private banks and other public corporate loan financing institutions 

Contact your bank as soon as possible if it looks like your business is going to face significant challenges due to the outbreak: A number of Finnish banks are offering grace periods and extensions for loan repayments loans helping the companies to overcome short term challenges caused by the outbreak.

6. TAIKE – ART FINLAND: Emergency actions by Art Promotion Centre Finland (Taike)

Extended funding: Taike has 0,9 million euro for emergency grants targeted for individual artists struggling with the financial impact of the outbreak.

More flexibility for corporate administration :

1. REGULATION: New temporarily rules for layoffs

More flexible rules for layoffs

Unemployment benefits for entrepreneurs

2. FINNISH TAX AUTHORITY: The Finnish Tax Administration supports businesses during the outbreak by increased flexibility 

Normal flexibility: 

Increased flexibility 

For more information, please visit:

3. Finnish pension insurance system

More flexibility: Mandatory pension payments can be delayed by three months (tbc)

Lower pensions payments: The mandatory pension payments will be temporarily decreased by 2,6% (tbc)

Investing on pension funds: The Finnish state pension fund is ready to invest 1 billion EUR on short term asset packet commercial papers (yritystodistus)

Increased loan guarantees for premium loans: Part of the paid TyEL insurance contributions are transferred into a loan fund from which the companies can make withdrawals. The loan period is 1–10 years. Now you can get an 80% guarantee for hecollateral from Finnvera.

For more information, please visit:

4. Finnish patent and registration office

Shareholder meetings: Finnish patent and registration office reminds that, unless the statues of the company state otherwise, limited companies can organise their annual shareholder meetings as remotely. 

For more information (in Finnish):

For general inquiries, please contact:
Director, Koopee Hiltunen
+358 40 532 4176

If you are looking for advise on
how to continue your business activities,
please contact:
Chief Business Advisor, Suvi Latva
+358 40 592 4018