Establishing a Profitable and Competitive Accounting Firm in Finland: perspectives of immigrant entrepreneurs
Abdallah, Qaasim (2025)
2025
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2025120432629
https://urn.fi/URN:NBN:fi:amk-2025120432629
Tiivistelmä
Since the current employment situation in Finland is not promising, many immigrant entrepreneurs are considering establishing an accounting business of their own in Finland. Based on that, this study investigated the research question regarding how to establish a profitable and competitive accounting firm in Finland from the perspective of immigrant entrepreneurs.
At the beginning, desktop research was conducted to establish a theoretical framework and to observe the research problems. In the theoretical framework, it was focused on examining the current situation and trends of the accounting firm and different legal forms of companies in Finland. It was also discussed on how to start a profitable and competitive accounting firm in Finland from the perspectives of the immigrant entrepreneurs. The extent of the accounting market in Finland was explored while considering the current key players of the field. The immigrants' share of the accounting market was discussed briefly during the work.
The desktop research revealed that the accounting industry is a highly regulated sector, and it needs high-pressure persistence from people who work in this field. It was also observed that accounting automation and digitalization are crucial in today’s accounting industry dynamics. The study showed that sustainability is one of the key factors that lead companies to succeed in the competitive accounting market. The study revealed that the number of accounting firms in Finland is regularly increasing year by year.
In the second phase of the thesis work, the author interviewed the owners of five micro- and small accounting firms currently operating in the field. The interview data were analyzed by using thematic analysis to observe recurring themes and patterns. Firstly, the research showed that there is a great demand for accounting and consulting services experts, and that the competition in the market is not fierce at this moment. Secondly, it was also observed that many small accounting firms’ owners are struggling to meet their clients’ demands and expectations. Thirdly, multilingual and culture-oriented service and transparent communication are considered as a competitive advantage among immigrant accounting entrepreneurs. The research results underlined the importance of trust and the reliability of the service as the key factors of the accounting industry. However, the customer pressure in this field is significant, as ordinary people can not understand the accounting regulations and the accountants’ obligations to meet deadlines.
Finally, this study reaffirms that there is a great opportunity and demand in the accounting field in Finland, but a persistent attitude, hard work, and continuous learning are also required.
At the beginning, desktop research was conducted to establish a theoretical framework and to observe the research problems. In the theoretical framework, it was focused on examining the current situation and trends of the accounting firm and different legal forms of companies in Finland. It was also discussed on how to start a profitable and competitive accounting firm in Finland from the perspectives of the immigrant entrepreneurs. The extent of the accounting market in Finland was explored while considering the current key players of the field. The immigrants' share of the accounting market was discussed briefly during the work.
The desktop research revealed that the accounting industry is a highly regulated sector, and it needs high-pressure persistence from people who work in this field. It was also observed that accounting automation and digitalization are crucial in today’s accounting industry dynamics. The study showed that sustainability is one of the key factors that lead companies to succeed in the competitive accounting market. The study revealed that the number of accounting firms in Finland is regularly increasing year by year.
In the second phase of the thesis work, the author interviewed the owners of five micro- and small accounting firms currently operating in the field. The interview data were analyzed by using thematic analysis to observe recurring themes and patterns. Firstly, the research showed that there is a great demand for accounting and consulting services experts, and that the competition in the market is not fierce at this moment. Secondly, it was also observed that many small accounting firms’ owners are struggling to meet their clients’ demands and expectations. Thirdly, multilingual and culture-oriented service and transparent communication are considered as a competitive advantage among immigrant accounting entrepreneurs. The research results underlined the importance of trust and the reliability of the service as the key factors of the accounting industry. However, the customer pressure in this field is significant, as ordinary people can not understand the accounting regulations and the accountants’ obligations to meet deadlines.
Finally, this study reaffirms that there is a great opportunity and demand in the accounting field in Finland, but a persistent attitude, hard work, and continuous learning are also required.