Entrepreneurship starts with an idea
Interest in entrepreneurship starts with an initial idea, but a successful company is built on a functioning business idea. The business idea does not need to be unique, but it must be feasible and respond to an actual need. The business idea describes what you are offering, to whom and how – and why the customer would choose you, your product or your service.
At the planning stage, key choices for the entire business are made, such as form of company, pricing, operating methods and risk management. Careful preparation helps you identify your strengths and potential pitfalls in the business idea even before the company is established. A business plan and realistic financial calculations will support decision-making and convince financiers.
Entrepreneurship also requires economic and mental readiness. Consider what you will do if the cash flow does not start in line with the plan. Outline what kind of everyday solutions you will need and how you will prepare for risks – and what you might need outside support for. A good start can be critical.
At this stage, consider / reflect
- How will your business idea meet customer needs – and how will you distinguish yourself from your competitors?
- Who will you offer your products/services to, at what price and through which channels?
- Do you need to apply for a permit or submit a notification before starting operations?
- What kind of income and costs will your company have?
- How will you finance early-stage investments and the working capital?
- What risks are there and how will you prepare for them?
CAUTION: Beware of corporate directory and registry scams!
New entrepreneurs might receive offers by e-mail and especially by telephone, related to paid business directories, registers or online visibility services. The messages may seem official, but they are often just misleading marketing – not a mandatory obligation.
Do not place any orders or enter into agreements over the phone, unless you are absolutely sure of what you are ordering and how much it costs.
Read more about these topics
Business idea
A business idea arises from a need or an insight. It must stand out from competitors and meet the customer’s needs.
Business plan and calculations
A business plan helps you see the overall picture. At the same time, it clarifies whether the idea is profitable.
Pricing of products/services
Pricing has a direct impact on results. It requires courage, market knowledge, and the confidence to value your own expertise correctly.
Initial funding
A business often needs funding in its early stages. Your own money is almost always required, but support can also be obtained from other sources.
Operations subject to authorisation
Some industries require a permit or notification. Find out during the planning stage whether these requirements apply to you.
Permits and notifications of a foreign citizen
Before starting a business in Finland, a foreign national must check matters such as their residence permit and make the necessary notifications to the authorities.
Is your company a startup?
Startups refer to companies that aim for rapid growth, often international and technology-driven. Their business model is usually still in the testing phase.
