Nopef contributes to the realisation of Nordic SMEs internationalisation plans

13 Jan 2021

The results of the annually conducted customer survey among recipients of Nopef financing show that supported projects have a positive impact on the companies’ employment in both the Nordics and the project countries. In addition, more than 70 per cent of the companies make use of Nordic subcontractors in their operations in the project countries. The customer survey further indicates that Nopef financing has provided high additionality for companies establishing international business operations, with 71 per cent stating that Nopef’s support has had a significant impact on their decision to implement a feasibility study for internationalisation.

Each international business established with the support of Nopef has created on average:

  • 11 jobs globally, of which 2 are located in the Nordics
  • Project-related investments of EUR 1.1 million
  • Project-related sales of EUR 2.2 million

Given the project activity and outcome level in 2020, which is forecast to be in line with previous years, Nopef-funded projects are expected to create some 378 jobs globally (of which 62 in the Nordics), approx. EUR 48 million in project-related investments and approx. EUR 74 million in project-related sales.

The findings from the customer survey in 2020 strengthen the view that Nopef’s internationalisation grants improve opportunities for Nordic companies to scale up and grow.

In total, the survey responses derive from 189 respondents, including 26 from the 2020 customer survey. Of the respondent companies, 92 per cent still had ongoing operations in the project country when taking part in the customer survey, three years after a successful establishment.