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Finland

When should next-gens learn about family wealth and responsibility?

September 21, 2020

The next generation of family business leaders say they first learned of the extent of their family wealth on average aged 31 and two-thirds feel this was about the right time, but when, how and even if that education takes place is highly debatable.

FB roundup: Walmart, Hong Kong and Preon Capital Partners

November 15, 2019

Walmart weathers trade war with soaring digital sales, family offices enticed to stay in Hong Kong, Jari Ovaskainen’s family office ties to Alierta family.

Walmart weathers trade war with soaring digital sales

The 3.2% growth in third-quarter sales announced by family business Walmart this week, ahead of lucrative holiday sales, are being seen as a sign of the US economy’s resilience against a weakening global economy.

CampdenFB-EDHEC Scholarship recipients start inaugural MBA course

February 27, 2015

Four CampdenFB-EDHEC Scholarship recipients were among the inaugural intake of Europe’s first MBA programme for future family business leaders.

The EDHEC Family Business Global Executive MBA (GEMBA) 2015 class consists of seven men and two women, the majority of whom come from countries outside of Europe, including Australia, Canada, South Africa and Pakistan.

Is your business a mayfly, a turtle or a chameleon?

September 10, 2013

So, farewell then, Nokia. Well, not quite. But the absorption of the Finnish mobile phone giant by Microsoft was a big moment in the story of its decline. It is probably a matter of time before the name is history.

Apparently there was a lot of hand-wringing and soul-searching in Finland about the deal, but the writing has evidently been on the wall ever since the infamous “burning platform” email by its CEO Stephen Elop, the former Microsoft man who will now go back to his old employer, taking Nokia with him.

Next generation: Primula’s next gens get green light

December 4, 2009

Risto Varynen is the fourth generation of a Finnish bakery business, Primula, founded by his great-grandfather in 1908. Baking is a particularly competitive business in Finland so Risto, 33, and his cousin Juha Valkamo, 44, wanted to offer something different to their customers. They decided to sell off their most profitable branch of the business and restart the company as a carbon neutral operation.

Myllykoski: a life on paper

May 1, 2008

Paper companies are feeling the strain with the need to be environmentally friendly and the growth of the internet. Marc Smith talks to a fourth-generation member of family-owned Myllykoski to see how they are coping

Forests and business families have a lot in common. They both have strong roots, regularly renew themselves and provide a protective canopy. But they can also be incredibly fragile, and everyone knows the old adage about not being able to see the wood for the trees.

Inward investment in Sweden and Scandinavia

July 1, 2004

Foreign direct investors have a welter of industrialised countries to choose from but many markets stand in stark economic contrast with each other. Scandinavian countries are no exception

Scott McCulloch is editor of Families in
Business magazine.

Foreign direct investors have a welter of industrialised countries to choose from but many markets stand in stark economic contrast with each other. Scandinavian countries are no exception

Investing in Scandinavia virtually means investing in Sweden. The Swedish government, the press and local businesses treat foreign investors as they do Swedish investors. The media is quick to point out foreign ownership, however, when layoffs or plant shutdowns are announced.

Family business in Finland: the engines of the economy

July 1, 2004

Finland may be a small country overshadowed by its dominant neighbour Russia, but has a tenacious family business sector powering a stable economy. Krista Elo-Pärsinnen reports

Finland may be a small country overshadowed by its dominant neighbour Russia, but has a tenacious family business sector powering a stable economy.

Finland's family businesses embody 'accountable ownership' with a face – they are arguably the backbone of the economy as well as the engine powering it. Their broad goal is not unlike family business owners the world over: to pass down an enterprise in a better condition than when they themselves took over.

Polar opposites on common ground

January 1, 2003

This year’s FBN conference saw the biggest attendance in its 13-year history, with delegates from 30 countries. While the largest single delegation came from Finland, some countries, such as Brazil, showed up in record numbers. Despite being at opposite ends of the earth, both the Finns and Brazilians came to the same conclusion: the FBN conference is well worth attending and no matter where you live, family business issues are the same the world over

Krista Elo-Pärssinen is communications consultant at Eurofacts Oy, a Finnish public affairs and communications agency operating in the Baltic Sea region.

Renata Bernhoeft-Urbasch is a second generation owner and partner in Bernhoeft Consultaria, and is also a family therapist.

Values and social responsiblity

January 1, 2003

Family firms want to see their values reflected in their business. The 2002 FBN conference addressed how this can be achieved

Maurits Bruel is a family business consultant with GITP International in the Netherlands.

Family firms want to see their values reflected in their business. The 2002 FBN conference addressed how this can be achieved

John is proud of his family business and the values it stands for. Where some businesses provide lip service to their values, he lives them every day. He measures his success not only by the bottom-line results of the business, but also by the goals that go with the company's core values.