I got interested in baking and the profession of confectioner at a fairly young age. The idea of owning my own café lived in my dreams until lower secondary school, after which literature and linguistics swept me along in upper secondary school. Eventually, an academic career beckoned me, and my entrepreneurial dreams faded.
Sometimes I pause to wonder why the idea of entrepreneurship fell apart. Perhaps it was partly because there were not many entrepreneurs in my close circle, and the business landscape of my former hometown wasn’t particularly broad. On the other hand, I do not really recall my student counsellors encouraging me to become an entrepreneur either. At university, most Finnish language students were steered toward careers as teachers or other experts.
Now as my second degree as a bachelor of culture and arts is over halfway there, I find myself face-to-face with entrepreneurship once again. In addition to usual work-life skills, I have learned more about innovation and entrepreneurial skills than before, and freelance journalism is discussed as one career option. There is a clear basis for this because according to Töissä.fi, 13 percent of graduated bachelors of culture and arts work as freelancers or entrepreneurs. Yet I still hesitate: can I still become an entrepreneur at this point?
According to Opiskelijasta yrittäjäksi report done in 2022, 34 percent of higher education students consider entrepreneurship as an appealing employment option. Meanwhile, the latest Youth Barometer shows that 29 percent of respondents view working in your own company as an important future achievement. Despite this, according to the latest career monitoring survey of data service Vipunen by Finnish National Agency for Education, only four percent of higher education students graduates from five years ago work as independent entrepreneurs or self-employed workers.
Young people planning their future now face many challenges. News headlines constantly speak of weak economy, crises, dragging purchasing power, faltering exports, trade wars, inflation and high unemployment rate. Entrepreneurs are in a tight spot too, because according to Statistics Finland’s business demography statistics, 10 965 companies were established in the first quarter of 2025, while 21 433 closed down. These bleak economic prospects likely dampen entrepreneurial aspirations, because according to Opiskelijasta yrittäjäksi report, 68,3 percent of higher education student respondents considered economic risks as a reason why entrepreneurship is not appealing.
Schools and educational institutes play their own role in improving entrepreneurial readiness. For example, entrepreneurial education has long been acknowledged in curricula. However, there is still room for improvement in providing concrete skills, because according to the career monitoring survey of 2024, higher education students were not particularly satisfied with the tools their degree provided for becoming an entrepreneur. Overall, 62 percent of respondents at least somewhat disagreed with the statement. Respondents thought teaching entrepreneurial skills also left more to be desired. On a scale of 1–6, the average satisfaction score for master’s degree holders was only 2,0 and 2,8 for university of applied sciences students.
Bleak economic prospects and education alone does not explain the uncertainty surrounding entrepreneurship – the gender matters as well. A study conducted in the University of Oulu Kerttu Saalasti Institute examined the gender gap in entrepreneurial potential and indicated that men had more start-up intentions than women. This study, based on Global Entrepreneurship Monitoring (GEM) data, also revealed that women feared failure more than men and perceived their knowledge and skills weaker. Nearly half of the women with start-up intentions did not think they had the necessary skills, knowledge, and experience.
In my case, fear of failure and the economic risks of entrepreneurship are probably the biggest reasons why I have not become an entrepreneur. It is comforting to know I am not alone with these thoughts, but it takes something more to lift these doubts.
To dismantle fears related to entrepreneurship, both concrete actions and changes in attitudes are needed. Especially small businesses need support now, as most entrepreneurs are either solo or micro-entrepreneurs. Women should also be encouraged to become entrepreneurs, as currently less than one-third of entrepreneurs are women.
A positive image of entrepreneurship should be created even before higher education. Fortunately, changes are coming to entrepreneurial education, as the Ministry of Education and Culture is updating entrepreneurial guidelines published in 2017. New guidelines are expected in autumn 2026 and will hopefully bring positive changes.
Students should also take time to reflect on their future. Even though starting a business does not seem interesting right now, studying entrepreneurial skills can have unexpected benefits. Therefore, higher education institutions should make their entrepreneur education more appealing so that more students would take advantage of it during their studies. For example, the University of Oulu offers a 25-credit study module of micro entrepreneurship, which can be completed either during studies or afterwards in Open University. The same study module is also available for students at Oulu University of Applied Sciences through cross-institutional studies.
Entrepreneurship should not be overshadowed by pessimistic talk of bleak economic prospects or bankruptcies. It is unsustainable that more companies are closing down than more are founded, as Finland needs new entrepreneurs and innovations to grow. An entrepreneur-friendly atmosphere will not emerge on its own, however, as it should be actively strengthened in all walks of life and degrees of education.
Author: Maaria Tuisku, MA, Bachelor of Culture and Arts
Photo: Minna Kilpeläinen
In Kerttu Saalasti Institute's blog we write about the topics of the Institute's research groups, micro entrepreneurship education and the Institute's general topics. The authors are researchers, experts and members of networks.
Our topics are: micro entrenepreneurship, future manufacturing technologies, regional excellence, micro entrepreneurship education