Finland Ltd. needs investments and know-how in commercialization
Lately I’ve been following social and global development even more closely than before, as well as thinking about the role of Salomaa in the Finnish business community and society in general.
Unfortunately, public debate tends to focus strongly on how our tax payments should be shared. Concrete ideas that would benefit our welfare society in the future, have been lacking to say the least. That said, actions have been made to raise the employment rate, which is a very important goal. But how can we create conditions that enable companies to hire new employees?
The Finnish economy and the welfare of Finns are dependent on how well Finnish companies succeed in global competition. International competitiveness is fundamental for our export companies, but these days even those companies that operate only inside Finnish borders have to face international competition, as foreign businesses expand their operations here.
Success equals sustainable and profitable growth for companies, which in turn creates new jobs and improves results. The financial results of companies and the salaries of new employees generate more tax revenues, which mean there’s more to share for our welfare state.
The basis for succeeding in global competition exists in Finland. The most important building blocks for success are competence, innovations and commercialization. The status with the first two blocks is generally good here in Finland. The investments made to support our education system and lifelong learning have increased our competence. Our diverse primary school system, as well as higher education, produce knowledgeable young employees. Investments made to support lifelong learning develop the competence of citizens who have already entered working life. This also improves the productiveness of work, prolongs working careers and has a good effect on job satisfaction.
As a creator of innovations, we are amongst the top players in the world, usually in the top 10 of any studies. Finnish companies have succeeded in research and development, therefore in studies that measure innovation, competition and the business environment, Finland is often seen to belong among the best countries in the world. Of course, investments in competence, research and development are vital in the future, too.
When it comes to commercialization of said innovations – in other words productizing, design, marketing, sales and go-to-market – we perform poorly. In fact, in recent studies we have been placed somewhere between positions 32 and 87. The State Audit Office, many studies and Finnish companies recognize that high-quality competence and innovations are partly left untapped because companies do not invest enough in commercialization of products and service innovations. In other words, many of our innovations go to waste when concerning businesses, employment and the national economy.
This has to change. Developing competence in commercialization quickly and comprehensively is fundamentally important for Salomaa. Our job is to help Finnish companies be amongst the best in the world also when it comes to conceptualization of products and services and placing them in the market. Our goal to raise Finland among the top 10 countries of the world when it comes to commercialization by the year 2030.
We have already started this journey, but we can’t do it on our own. We need companies that are willing to succeed, educational institutions, political and non-commercial influencers, media and individual people, who feel as passionately about Finland’s success as we do. If you recognize yourself, you can contact me directly.
Antti Kärävä, CEO of Salomaa Group