Key figures and facts from 2023

We provided more than NOK 7 billion to businesses. In 2023, we provided NOK 7.1 billion for business development and innovation. The support took the form of grants, loans and financial guarantees. This was roughly on a par with 2022 and represents a normal year compared with the pandemic years of 2020 (NOK 12.5 billion) and 2021 (NOK 9.2 billion). Including advisory, promotion and EEA funding, our total support for Norwegian businesses amounted to almost NOK 8 billion.

96 per cent say our support makes a decisive difference. In the Customer Impact Survey, 96 per cent of the businesses surveyed said our contribution was decisive in enabling them to carry out their project. This is higher than in 2022 (88 per cent) and also higher than in the years before the pandemic. In 2019, the figure was 91 per cent. During the pandemic, it was 96 per cent in 2020 and 95 per cent in 2021.

Our support unlocks additional funding. Every krone we provide in capital or advisory is matched by NOK 1.50 in businesses' own funding or funding from other sources for development projects and investments. In 2023, this brought the total funding provided to NOK 19.6 billion. Through competence building and networking, we also enable other innovation and internationalisation activities.

Businesses we support grow more. Businesses we support grow more than comparable businesses that do not receive our support. Businesses receiving support achieved 14.78 per cent higher annual growth in sales revenue/turnover. The corresponding figures for value creation and productivity were 10.79 and 4.27 per cent respectively. Measured by full-time equivalent positions, annual additional growth was 7.03 per cent.

Entrepreneurs we support grow faster. Start-ups (less than three years old) that receive our funding achieve average annual additional growth in sales revenue of 21.49 percentage points compared with businesses that do not receive our support. The corresponding figure for value creation is 19.08 percentage points, while productivity growth is 9.68 percentage points and growth in full-time equivalent positions is 9.5 percentage points.

NOK 2 billion for entrepreneurs. In 2023, we approved just over NOK 2 billion for entrepreneurs. This was a significant increase from NOK 1.5 billion in 2022.

Growth for established businesses. Businesses more than three years old that receive our support achieved 6.99 percentage points higher annual growth in sales revenue than businesses that did not receive our support. The corresponding additional growth in value creation was 3.94 percentage points. Businesses receiving support also achieved 3.79 percentage points higher growth in full-time equivalent positions.

Business clusters drive growth. Businesses participating in clusters we support achieved average additional growth in sales revenue of 19.52 percentage points over the first three years compared with businesses that did not participate in such clusters. The corresponding additional growth was 16.84 percentage points for value creation and 7.91 percentage points for full-time equivalent positions.

Increase in overnight stays in Norway. In 2023, commercial accommodation providers in Norway recorded 37 million overnight stays, an increase of 2.54 per cent. The number of Norwegian guests fell slightly, while the number of international guests rose sharply by 13.5 per cent.