Startup companies’ assessment of their own financial situation weakened in early 2026 to the lowest level in the history of the Startup Barometer. Expectations for the coming months also declined clearly. Startups estimate that they will hire fewer new employees than before, and their assessment of the wider economic situation weakened again.
For the first time, the respondent base in this barometer was expanded to cover the entire startup ecosystem. Previous barometers have been based on responses from member companies of the Finnish Startup Community, so comparisons with earlier results are made on that basis.
The balance figure describing the financial situation of member companies of the Finnish Startup Community fell to 9.9 in early 2026, compared with 14.8 in the previous quarter. This is the lowest result in the history of the Startup Barometer. In the data covering the entire startup ecosystem, the balance figure was even lower, at 4.8.
Expectations for the next three months also weakened clearly. The balance figure describing the future financial situation of member companies of the Finnish Startup Community fell to 17.8, down from 25.9 in the previous quarter. In the data for the entire startup ecosystem, the balance figure was 14.4. Although startups still assess their situation as narrowly positive, the outlook is clearly weaker than before.
“2026 appears to have started in more difficult circumstances for startups than hoped. Part of the decline can be explained by the new cooperation through which the Startup Barometer was expanded to cover the entire startup ecosystem. However, even when looking only at member companies of the Finnish Startup Community, sentiment indicators are declining,” comments Amir Hassan, economist at the Finnish Startup Community.
Startup recruitment outlook weakened sharply
Startups estimate that they will hire fewer new employees than before. The balance figure describing recruitment fell to 22.3 among member companies of the Finnish Startup Community, down from 26.4 in the previous quarter. Across the entire startup ecosystem, the balance figure was 16.3. Startups still expect to increase their headcount, but more slowly than before. The pace of recruitment has been weakening for more than a year.
“Startups are still hiring new employees, but more cautiously than before. When companies’ outlook for their own finances weakens, this is quickly reflected in recruitment. This is a worrying signal, as startups have in recent years been one of the few clearly growing employers in the economy,” says Ivan Helin, data scientist at FiBAN.
In the Startup Barometer, assessments of the wider economic situation also turned negative again. The balance figure describing the economic outlook for the next three months fell to -11.4 among member companies of the Finnish Startup Community, down from 1.4 in the previous quarter. Across the entire startup ecosystem, the balance figure was -6.3. This is particularly driven by prolonged geopolitical uncertainty and the weak overall economic situation, which are weighing on startups’ expectations.
“The figures in the barometer have weakened, but this is not about opportunities disappearing. Rather, it reflects a change in the market. Artificial intelligence is currently creating a new phase of transformation, bringing both uncertainty and new opportunities for growth. Finland nevertheless has strong expertise and the ability to build for the long term. That is why we have good conditions to create sustainable growth companies even in this situation,” says Juhani Polkko, chair of Startup Finland.
The Startup Barometer measures, on a quarterly basis, the startup ecosystem’s views on its own financial situation, the wider economy and recruitment. The Q1/2026 barometer was carried out between January and March 2026. The results are presented as balance figures, where a positive figure indicates that optimistic responses are more common than pessimistic ones, and a negative figure indicates the opposite.
The survey was conducted online during the first quarter of 2026, and there were 239 respondents.
The Startup Barometer was carried out by the Finnish Startup Community, the Finnish Venture Capital Association, the Finnish Business Angels Network, Startup Finland and the Startup Foundation. The barometer was conducted jointly for the first time, with the aim of strengthening the voice of the startup ecosystem and producing more comprehensive information than before about how startups and other ecosystem actors currently view the outlook.