Startups’ confidence in the broader economic environment is rising — sentiment about companies’ financial situations increased for the first time in over a year.
The Finnish startup community’s latest Q3 2025 barometer reports that expectations for the broader economic environment have improved for the first time in over a year. Although U.S. trade policy still appears unclear and unpredictable, the greatest uncertainty seems to be behind us.
“The results indicate that the uncertainties caused by the tariff war between the United States and the EU seem to be behind us, even though the U.S. president’s views may still fluctuate in the future. Startups are, by nature, excellent at adapting to new market conditions, so it’s no surprise that their outlook for the coming quarter has turned positive again,” says Amir Hassan, Economist at the Finnish Startup Community.
Figure 1: Time series of balance figures reflecting the confidence of Finnish Startup Community members in the surrounding economic situation. A negative figure indicates a pessimistic view, while a positive figure reflects optimism. The balance figure can range from -100 to +100.
Startups’ expectations for companies’ economic situations are rising for the first time in over a year.
Figure 2: Time series of balance figures reflecting the confidence of Finnish Startup Community members in the startups’ financial situations. A negative figure indicates a pessimistic view, while a positive figure reflects optimism. The balance figure can range from -100 to +100.
“The backward-looking balance figure continued to decline, meaning companies’ assessment of their own financial situation was slightly worse than in previous quarters. However, sentiment remains clearly positive. One could expect startup growth to continue through the rest of the year, as member companies’ expectations for the next quarter highlights,” notes Hassan.
The projected headcount for the next quarter remains essentially unchanged.
Figure 3: Time series of balance figures reflecting the estimation of Finnish Startup Community members in their hiring pace. A negative figure indicates a pessimistic view, while a positive figure reflects optimism. The balance figure can range from -100 to +100.
According to the latest results, there has been little change in the pace of recruitment. Based on the survey responses, startups will continue hiring at roughly the same pace as in previous years. It should be noted, however, that the pace of recruitment is significantly slower than at the 2022 peak, when startup fundraising was also at its highest.”
Check the full analysis via this link: Startup_barometer_Q3_2025_Slides
Amir Hassan
Economist
Finnish Startup Community
For further information about barometer, feel free to contact us at amir@startupyhteiso.com and youssef@startupyhteiso.com