Finland
Four Agencies You Need To Contact When Starting A Business In Finland
How They Can Help You Kickstart Your Business
If you’re thinking of starting a business in Finland, you are in the right place.
Finland is one of the best countries to start a business in.
Finland offers great opportunities to network, access free business advice, business start-up grants, and easy management of your business through multiple platforms.
Why Start A Business In Finland
- Great opportunities to network
- Access to free professional business advice through the four resources discussed below.
- Access to Start-up grants and competitions that enable you to gain financial assistance to start your business.
- Renowned worldwide for great quality products, services, and a top-notch business environment.
- Finnish culture is based on teamwork and cooperation compared to the competition.
Disadvantages Of Starting A Business In Finland
- High taxes — 20% corporate tax, excluding other taxes that need to be paid regularly to maintain living costs.
- If you struggle with the Finnish language it is hard to break into the market unless you implement the right tools and resources.
- Low population, with a population of 5,549,200.
- Difficulties in understanding the Finnish business culture, according to a recent survey by Suomen Yrittäjät.
The above disadvantages do not necessarily mean lower sales.
Remember: you are in charge of the success of your business. Having a positive mindset is crutial to the business succes.
Uusyrityskeskus
The Uusyrityskeskus is a Finnish agency that consists of qualified business advisors and experts.
- Uusyrityskeskus aims to help new and existing small businesses by providing professional advice regarding their business matters.
- It is free of charge, and the agency can be contacted in order to book an appointment and start the process.
- In Tampere, it is called Ensimetri. It is located in Kalevantie 2 (Technopolis Yliopistonrinne).
- It is known by other names in different states but their role is the same.
TE-Palvelut
TE-palvelut provides professional advice regarding starting your own business.
- They provide the opportunity to apply for a start-up grant which includes financial assistance to help you get started with your business.
- Entrepreneurial training is also offered by the TE office.
StartiRaha
A Start-up grant is financial assistance to help you get started in opening and establishing the business.
- It equates to a maximum of 33.66€ per day and can be given for a maximum of 12 months.
- Provides the entrepreneur with a secure income while they focus on building their business.
- You must apply for the grant through the TE office by filling in an application and submitting your business plan. You can be eligible to receive the grant if you are a full-time unemployed job seeker or you are a part-time entrepreneur wanted to switch to full-time entrepreneur status.
Finnvera
Finnvera is a Finnish financing company that helps provide financial support to entrepreneurs and small businesses in order to build, grow and thrive by providing loans and financial assistance.
- One of their products called the start guarantee which helps businesses and entrepreneurs in getting bank financing for investment and working capital needs.
- The eligibility conditions need to be met, which states that the newly established business needs to be owned by private individuals or meets the SME definition. The business should also need to be under 3 years old.
- Fees are 1,75% p.a. charged at a 3-month interval.
- In order to apply, get into contact with your bank who then makes an application on your behalf and it is decided by Finnvera.
Resources
- Why Finland Is Such A Great Place For Business- Forbes
- Study: starting a business in Finland is easy, managing is difficult- Foreigner.fi
- Starting A Business In Finland Is Easy
- Six reasons to start your business in Finland
Tools
- Pitch Planner Canvas Template
- How to Pitch a Brilliant Idea by Kimberly D. Elsbach
- Business Model Canvas
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About The Author
Noor is a first-year business student at Tredu. She is passionate about marketing and content creation. She recently launched her YouTube channel specializing in holistic healing.
