Social Economy in Europe: Finland
Table of contents
Note: The data presented in this table derive from the OECD country fact-sheets and the European Commission DG GROW studies. Variations in scope, methodology and most recent available years may lead to differences in the headline figures across countries and with other sources.
Source: Data for Finland relates to 2021 (CIRIEC; Euricse; European Innovation Council and SMEs Executive Agency (European Commission); Spatial Foresight, 2024[1]) (OECD CFS, 2023[2]), except data on the involvement with any social economy organisation as a volunteer relating to 2020-2025 (European Commission, 2025[3]).
In Finland, there are specific acts on constituents of the social economy. These include the Co-operatives Act (2013/421), the Associations Act (503/1989), the Foundations Act (2015/487) and the Act on Social Enterprise (1351/2003 revised 924/2012).
Institutions
Although Finland does not have a formal definition of the social economy, the country has a National Strategy for Social Enterprises that outlines policies and strategies for social enterprises (Ministry of Economic Affairs and Employment, 2022[4]). The Strategy focuses on providing support to individuals with limited work capacity and those facing challenges in the job market (Ministry of Economic Affairs and Employment, n.d.[5]). The Strategy is currently being updated.
The Ministry of Economic Affairs and Employment is primarily responsible for overseeing national policy regarding social enterprises. Its efforts are supported by various other ministries, including the Ministry of Social Affairs and Health and the Ministry of Justice. The Centre of Expertise for Social Enterprises implements the national strategy through targeted actions and co-ordination with several government agencies. The Employment, Development and Administration Centre supports employment and entrepreneurship, including social enterprises (OECD CFS, 2023[2]).
Competence
The Strategy for Social Enterprises was adopted in 2021 by the Ministry of Economic Affairs and Employment (Ministry of Economic Affairs and Employment, 2022[6]). The strategy is undergoing updates to align with the European Commission's recommendation of 13 June 2023 on concrete measures to support the social economy (European Union, 2023[7]). The process of updating the strategy aims to place a stronger emphasis on the local level. Launched in 2024, several events related to the update were held in spring 2025 under the lead of the Ministry of Economic Affairs and Employment. This is not the first policy legislation specifically on social enterprise. In 2003, the Act of Social Enterprises (1351/2003) was adopted but was repealed in 2023 due to ineffectiveness, low registration numbers and overall lack of impact (European Commission, 2024[8]).
The Centre of Expertise for Social Enterprises was launched between 2021 and 2023 to implement the strategy. The centre has been tasked with developing national advisory and guidance services, systematising statistics and data collection, strengthening structures and network co-operation, increasing awareness and skills and finding ways to finance relevant entities (Centre of Expertise for Social Enterprises, n.d.[9]). Aligned to the national strategy, its key objective is to increase the number of jobs available to people with impaired capacity to work and others who are in a difficult labour market position. During the 2021-2027 funding period, ESF+ funding is being used to implement this national co-ordination project to improve the business conditions of social enterprises.
The Employment, Development and Administration Centre provides Regional Vitality Centres with development and administrative services. The Employment, Development and Administration Centre is responsible for the Enterprise Finland advisory service, a national support service for entrepreneurs, employers, and those planning to start a business in Finland.
The Ministry of Justice leads the implementation of the Civil Society Organisations (CSO) Strategy. The strategy was adopted as a resolution by the Government in 2024. It prioritises the promotion of independent fundraising activities by CSOs, the development of government grant activities for CSOs and the dismantling of any bureaucracy which hinders their operation (Finnish Government, 2024[10]).
While not specific for the social economy or social enterprises, there are several complementary national frameworks in place to support this activity. The Co-operatives Act (2013), Associations Act (1989) and Foundations Act (2015) frame the legal landscape of social economy entities. The oversight of these entities primarily falls jointly under the activities of the Ministry of Economic Affairs and Employment and the Ministry of Justice.
Mechanisms for responsible public procurement have also been relevant to social economy entities. The National Public Procurement Strategy (Hankinta-Suomi) (2020), the Competence Centre for Sustainable and Innovative Public Procurement (KEINO) (2019) and the Social Impact Bond (SIB) model, led by the Finnish Innovation Fund (Sitra) since 2014, contribute to the development of viable social enterprises.
Institutions
Finland is a unitary state organised on a decentralised basis. The state has legislative powers in all areas (except in the autonomous Åland Islands), and the self-governing competencies of the regional level in mainland Finland are limited (European Committee of the Regions, n.d.[11]).
Regional activity relevant to the social economy is driven by national bodies. The Centre of Expertise for Social Enterprises and the Competence Centre for Sustainable and Innovative Public Procurement (KEINO) have networks to provide specific resources at the regional level. It should be noted that KEINO was financed by the Ministry of Economic Affairs and Employment from the 2022 budget until 30 September 2024 (Ministry of Economic Affairs and Employment, n.d.[12]). As of January 2026, Regional Vitality Centres are involved in supporting social enterprises at the regional level. Their policy objectives often align with those related to social enterprises. While these centres operate under the jurisdiction of the Ministry of Employment and the Economy, they also manage responsibilities assigned by other administrative branches, including the Ministry of the Environment, the Ministry of Transport and Communications, the Ministry of Agriculture and Forestry, the Ministry of Education and Culture, and the Ministry of the Interior.
Competence
15 Centres for Economic Development, Transport, and the Environment (ELY) promote regional competitiveness, well-being and sustainable development and curbing climate change. These centres implement labour policy, distribute relevant funding, provide guidance and advice and facilitate knowledge sharing across the sectors of business, transport and infrastructure and environment and natural resources. Their activities do not specifically focus on social entrepreneurship, but they align with social economy (Centre for Economic Development, Transport and the Environment, n.d.[13]). These centres are due to be replaced in 2026 by 10 Regional Vitality Centres (Council of Europe, 2025[14]). These new centres will focus on the development and funding of regional development activities and economic activity. They will substitute ELY centres in the competences of immigration and integration.
Institutions
There is limited information on the designated bodies involved in the social economy at the local level. While local self-government is well established and has been protected since 1995 by the Local Government Act, with revisions in 2015, most direction and support for the social economy comes from national strategy and co-ordination. The Association of Finnish Cities and Municipalities (AFCM) promotes local self-government and the modernisation of municipal services.
Competence
As with the regional level, it is national bodies like the Centre of Expertise for Social Enterprises and the Competence Centre for Sustainable and Innovative Public Procurement (KEINO) which operate locally to provide awareness, guidance, network building and policy implementation. The current strategy of AFLRA, "an impactful partner for local government," does not explicitly include the social economy (Association of Finnish Municipalities, 2020[15]). It does, however, have a focus on sustainability and its key objectives – in terms of network and capacity building as well as advocacy for diverse local authorities – can also support the development of social economy activities.
Across multiple public authorities and/or levels of government
In general, Finland is active in developing and enacting models to improve multilevel governance. Local models, such as “The Beqiri model” of the ELY Centre for Uusimaa, are being explored as replicable for multi-level co-ordination (Council of Europe, 2025[14]). These efforts, while not specific to the social economy, would likely influence the effectiveness of any relevant initiatives.
Cross-government collaboration on the activity of national agencies for the social economy or relevant activity is also clear. The centres which comprise the primary source of action for social economy, such as the Centre of Expertise for Social Enterprises and the Competence Centre for Sustainable and Innovative Public Procurement (KEINO), comprise multi-ministry steering committees. In addition, these committees include representatives from regional administration, Business Finland, the Finnish National Agency for Education, and the Centre of Expertise for Impact Investing. The Advisory Board on Civil Society Policy (KANE), under the Ministry of Justice, was appointed for the term 2022 to 2026 to promote the interaction between administration and civil society. It consists of representatives of civil society, research, the business sector, ministries and other public agencies.
With social economy representatives
Several networks and associations support and promote the activity of social economy entities. These structures facilitate awareness building and contribute to training opportunities. The Finnish Association of Social Enterprises (ARVO) is a membership-based, not-for-profit association and an active network of social and value-driven enterprises and is the leading advocacy organisation for social enterprises in Finland. ARVO co-ordinates the Centre of Expertise for Social Enterprises and engages in a variety of other activities, including network building, knowledge sharing, training and advice (ARVO, n.d.[16]). Through this Centre, they have participated in open consultation with the Ministry of Economic Affairs and the Employment on strategies and legislation relevant to social enterprises.
These institutions also implement certification labels to encourage the visibility of social enterprises. The Finnish Social Enterprise Mark was introduced in 2011, and it is administered and owned by the Finnish Work. The Finnish Work has been a crucial stakeholder for the Centre of Expertise, with collaboration aimed at enhancing the visibility of social enterprises. The mark's primary objective is to increase visibility, particularly targeting consumers.
Online mechanisms to encourage collaboration are in place and facilitate knowledge sharing and access to information. Otakantaa.fi is an online service, aiming to enhance dialogue and participation between citizens, organisations, and authorities. On the "Ota kantaa" website, anyone can comment on the initiatives that have been opened on the platform. The Finnish Innovation Fund (SITRA) provides a wide range of publications to support social economy entities and relevant actors.
Social economy representatives also include organisations which co-ordinate the activity of co-operatives and federations in the country. These tend to operate specifically in relation to the development of a well-being economy and to employment support with those who have difficulties gaining access to labour markets. This includes organisations like Pellervo Coop Centre and Coop Finland, the Finnish Federation for Social Affairs and Health (SOSTE) and the VATES Foundation. They also support the development of research, as with the University network for multidisciplinary studies and research into co-operative and social economy (CNS).
Note: An OECD survey on institutional arrangements circulated in 2024 with national and regional social economy representatives contributed to the findings of this country note. Both the Centre of Expertise for Social Enterprises and the Competence Centre for Sustainable and Innovative Public Procurement (KEINO) have networks which provide specific resources at the regional level. The Competence Centre for Sustainable and Innovative Public Procurement (KEINO) is no longer operational as of September 30, 2024.
Source: See (Council of Europe, 2025[14]) for the example of ‘The Beqiri model’ and (Otakantaa, n.d.[17]) for the example of Otakantaa.fi.
Strategies, plans and legal framework
Finland’s foundational Social Enterprise Act (1351/2003), enacted in January 2004, was one of Europe’s first legal frameworks for social enterprises, defining them as organisations employing at least 30 % disabled or long‑term unemployed individuals (Republic of Finland, 2003[18]). However, by 2019, the law was considered outdated, leading to its repeal and prompting the need for a modern strategic approach. A national review found that the definition was overly narrow, statistical data insufficient, and advisory mechanisms lacking. In response, Finland embarked on the development of a comprehensive national strategy (Anoschkin, 2024[19]).
The Ministry of Economic Affairs and Employment approved in 2021 a seven‑goal National Strategy for Social Enterprises, shifting focus from legal form to ecosystem support. Key objectives include clarifying and promoting the social enterprise model, developing impact-driven funding mechanisms, expanding employment of persons with partial work ability, strengthening networks, enhancing competencies, improving statistics and research, and scaling social innovations (Working group on Social Enterprises, 2022[20]). A flagship initiative under the strategy is the Centre of Expertise for Social Enterprises (CESE), launched in October 2021 and expanded in 2023 via ESF+ funding to co-ordinate national advisory, awareness, and capacity‑building measures. Accessible through yyo.fi, CESE offers guidance to enterprises, educators, public procurement bodies, and funders; maintains a data portal with statistics; and supports networked service delivery to local authorities and educational institutions (Anoschkin, 2024[21]).
Support from the public sector
Successive expert working groups have helped the social enterprise policy framework evolve. The first, established in late 2001 by the Ministry of Trade and Industry, consisted mainly of government officials and laid the groundwork for the Social Enterprise Act 1351/2003. In 2011, a more diverse, multi‑stakeholder group reviewed and broadened this definition, aligning it with European standards and introducing the Social Enterprise Mark to increase visibility. A later, predominantly official working group (2019–23) was tasked with shaping the National Strategy for Social Enterprises and establishing co-ordination mechanisms to support its implementation (Anoschkin, 2024[21]).
The Centre of Expertise for Social Enterprises (CESE) is a central pillar of Finland’s current framework. It was launched under the 2021 strategy. Established by the Ministry of Economic Affairs and Employment with initial discretionary funding (EUR 3 million for 2021–23) and co-financed via ESF+, CESE operates as a consortium of nine organisations (extended from six) to offer national advisory services, guidance, and awareness-raising. The centre provides training, seminars, workshops, and supports regional networks, business incubation, accelerator pilots, and initiatives aimed at improving market access and public procurement opportunities (Working group on Social Enterprises, 2022[20]) (Ministry of Finance, 2021[22]). CESE also co-ordinates a national initiative, “Improving Business Conditions for Social Enterprises”, funded through ESF+ (2021–27). This project aims to enhance operational capacity, strengthen ecosystem infrastructure, and develop innovative employment models for individuals with partial work ability (Structural Funds FI, n.d.[23]).
In parallel, mainstream innovation and entrepreneurship agencies provide support to social enterprises. Sitra, Finland’s long-established innovation fund, and Business Finland – responsible for innovation funding and internationalisation – both offer grants, advisory services, and ecosystem support to all enterprises, including social ones, on an equal basis (Anoschkin, 2024[21]).
Other public entities also support social economy organisations. For instance, Business Finland is a government agency responsible for innovation funding, trade and internationalisation promotion. Its main goals are to boost sustainable economic growth, support innovation, and assist businesses in their internationalisation. The agency provides funding, internationalisation services, innovation and ecosystem development support, and business advisory services. It helps all types of companies, including social enterprises, which compete on equal footing with other businesses to secure funding and access services (Business Finland, n.d.[24]).
Support from the private sector
National umbrella and membership organisations co-ordinate and strengthen Finland’s social economy through certification, advocacy, education and networking. The Association for Finnish Work, which operates the Social Enterprise Mark, independently evaluates applications against criteria – such as committing at least half of profits to social or environmental purposes – and promotes certified enterprises via media outreach, investor education, and guidance on impact reporting.
Co-operative and social enterprise networks also enhance capacity and representation across sectors. COOP Finland represents around 70 co-operatives and provides seminars, advisory services, and skill-sharing. It is affiliated with the European co-operative lobby, CECOP (Coop Finland, n.d.[25]). The Association of Social Enterprises (ARVO), founded in 2014, supports over 70 social enterprises by facilitating collaboration, advocacy, and exchange of expertise, and participates in national co-ordination under the Centre of Expertise for Social Enterprises (ARVO, n.d.[26]).
Longstanding bodies such as Pellervo Coop provide fundamental co-operative infrastructure and governance support. Established in 1899, Pellervo offers guidance on co-operative business design, governance, and education, while also advocating at national and EU levels – including through a Brussels office – and promoting exemplary co-operatives via its annual “Cooperative Act of the Year”.
The enterprise agency network delivers free, nationwide business coaching, including to social entrepreneurs. As a result, the Finnish Enterprise Agencies operate through 30 regional centres, providing tailored, cost-free advisory services to help new and existing enterprises – including social ones – launch and scale operations (Finnish Enterprise Agencies, n.d.[27]).
Private impact investors are developing financial infrastructure to support social entrepreneurship. Epiqus, a EuSEF‑registered impact fund manager, specialises in social impact bonds (SIBs) – including the Nordic region’s first occupational well‑being SIB and Finland’s largest immigrant integration SIB – which measure social outcomes and channel returns to public commissioners. The company gives half its profits to social and environmental missions (Epiqus, n.d.[28]). Meanwhile, Ehta Raha operates as a financial co-operative, offering community bonds, peer‑to‑peer loans, and shares to fund ecological, social, and cultural initiatives, coupled with advisory and accounting services (Ehta Raha, n.d.[29]).
Support from the public sector
ELY Centres are essential regional bodies that deliver both general business support and targeted assistance to the social economy ecosystem (Structural Funds FI, n.d.[23]). There are 15 Centres for Economic Development, Transport and the Environment (ELY Centres) across Finland, each mandated to implement central government and EU structural fund initiatives at regional level. In the national “Improving Business Conditions for Social Enterprises” co-ordination project – part of Finland’s ESF+ and national Social Enterprise Strategy – ELY Centres collaborate with the Centre of Expertise for Social Enterprises (CESE) to support social enterprises through networking, awareness-raising, and project development. For example, the ELY Centre for Häme manages calls, applicant outreach, project selection, monitoring, and communication for the initiative (ELY Centres, n.d.[14]).
Beyond targeted social economy initiatives, ELY Centres offer SMEs – including social enterprises – access to general business development grants and advisory services. These discretionary funds, financed by the ERDF and national budgets, support activities such as innovation, internationalisation, digitalisation, energy efficiency and capacity building. Centres provide expert guidance, workshops, and funding tailored to regional development goals (ELY Centres, n.d.[15]).
At the municipal level, enterprise agencies affiliated with the Finnish Enterprise Agencies network deliver free, local business support services. For instance, the Helsinki New Business Centre – operated by the City of Helsinki – offers one-on-one mentoring, training, and networking events equally to social and commercial entrepreneurs (City of Helsinki, n.d.[30]).
Support from the private sector
Local incubators provide vital environments for social enterprise development. Helsinki Incubators, managed by the University of Helsinki, run the four-month TREMOR programme specifically tailored for social ventures in society, education, well-being, communities and law. TREMOR includes a one-month foundational bootcamp, weekly workshops, and mentor sessions, helping participants refine sustainable ideas and connect with networks and expert guidance ahead of market entry (Helsinki Incubators, n.d.[31]).
National accelerator Kiuas supports growth-stage ideas across broad sectors, including social entrepreneurship. Founded in 2017 from a merger of two Aalto University startup initiatives, Kiuas offers a ten-week programme with coaching, resources and access to entrepreneurial networks – benefiting social entrepreneurs alongside those in other industries (Kiuas, n.d.[32]).
Impact investors like StartMore Impact offer funding and strategic coaching to purpose-driven startups. Established in Helsinki in 2020, StartMore Impact provides investment and Catalyst advisory services to early- and growth-stage ventures addressing social, energy and urban challenges (StratMore Impact, n.d.[33]).
Transnational projects enhance rural and regional capacity-building for social enterprises. The MERSE project (2023–26) fosters rural social entrepreneurship across Finland, Sweden, Norway, Iceland and Ireland by adapting business models and improving support structures through Interreg NPA. The RESEES initiative, under Interreg Europe, connects partners from Spain, France, Slovenia, Italy and Finland to share good practices, conduct workshops and strengthen regional policy frameworks (Interreg, n.d.[34]). Another case is the Reinforce Regional Social Economy Ecosystems and Stakeholders’ Capacity project (RESEES), also funded by Interreg Europe. It aims to strengthen the regional social economy ecosystems and upskill its stakeholders. It is part of the European Plan for the Social Economy. Partner-organisations from Spain, France, Slovenia, Italy and Finland participate in workshops, study visits and policy learning events. The outcome expected is the identification of experiences, draw of good practices and regional diagnoses, and policy roadmaps (Interreg, 2025[35]).
Definition of public interest
Section 22 of the Finnish Income Tax Act (Republic of Finland, 1992[36]) defines a public-benefit organisation as one which:
Acts solely and directly for public benefit in a material, intellectual, ethical or social sense.
Does not limit its activities to a closed group of persons.
Does not distribute economic benefit to members or related persons, e.g. dividends or unreasonable remuneration (European Commission, 2023[37]).
Economic activities
Social economy entities may engage in both related and unrelated economic activities (Philea, 2024[38]) (European Commission, 2023[37]). Related activities are permitted without restriction. Unrelated economic activities are allowed if they are stated in the entity’s statutes, serve its purpose, or are deemed economically insignificant. However, income from unrelated activities may jeopardise the entity’s tax-exempt status if it conflicts with the public-benefit condition under the Income Tax Act (Republic of Finland, 1992[36]).
Foundations must submit an annual financial report, an annual activity report (including closely related party transactions), a tax return, and any governance changes (e.g. in the board composition) (Philea, 2024[38]). These are submitted to the Finnish Patent and Registration Office (the supervisory authority) and the Tax Administration. Associations are subject to similar requirements, with financial reporting and governance obligations outlined in the Association Act (European Commission, 2023[37]). Annual reports and accounts are publicly available, except for detailed economic data and tax filings. External audits are mandatory for all foundations and for associations meeting certain thresholds (European Commission, 2023[37]). Audit procedures are governed by the Finnish Auditing Act, which stipulates that an auditor cannot be a person under guardianship, with restricted legal capacity, in bankruptcy, or banned from conducting business. If one or more natural persons are appointed as auditors, at least one must be resident in an EEA state. For each financial year, auditors must issue a dated and signed audit report.
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← 1. Private actors, including social economy entities, that sell social services, such as childcare, care for older persons and addiction support are exempt from VAT if their business operations are supervised by a public body (VERO, 2025[39]).
← 2. Under the Act on Inheritance and Gift Tax.