Me as an entrepreneur – the many forms of entrepreneurship
Entrepreneurship does not come in only one form or model – it can be a full-time business, a part-time job based on one’s own competence, or buying an existing company. It is important to identify your strengths, motivation factors and goals: why do you want to become an entrepreneur and what kind of entrepreneurship is suitable for you?
As an entrepreneur, you often need a solution-oriented long-term perspective and the ability to withstand uncertainty. The good news is that an entrepreneurial approach can be developed. You can get started by reflecting on your own competence and everyday wishes: what kind of work do you want to do, where, when and for whom?
A business idea is the foundation of entrepreneurship. It describes what you offer, to whom and how. A well-defined business idea helps choose the right operating model and form of company. In some cases, entrepreneurship may also start with the acquisition or change-of-generation of a company – in this case, you can build something new on an existing foundation.
The choice of the operating model depends on, for example, whether the activity is subject to a permit or whether it requires a business ID. Light entrepreneurship can be a good way to experiment, but is not always possible. The form of company and the operating model must support your business idea.
An entrepreneur’s income is built on their own decisions. Unlike an employee, an entrepreneur does not have the security provided by an employment relationship. It is important to understand how you can ensure your financial security in daily life, when you fall ill or when you retire.At the early stages of entrepreneurship, your income may be uncertain and irregular. Plan how you can cover the costs of living before your business starts making a profit. For example, you can use your savings or consider part-time entrepreneurship. Remember that the entrepreneur’s pay is not the same as the revenue – expenditure also affects the end result. A well-produced business plan with investment and profitability calculations helps in the planning.
Helppo tapa tukea yrittäjyyttä.
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At this stage, consider / reflect:
- Identify your competence and motivation factors
- Reflect on your business idea and who your service/product is aimed at
- Select the form of company that suits your situation – for example, light entrepreneurship or your own business ID.
- Ensure your income at the early stages (savings, start-up grant, other possible early-stage grants and realistic entrepreneur’s pay)
- Take care of social security and pensions – for example, YEL will affect your income in many different life situations.
Learn more about the topics
Light entrepreneurship
We often talk about light entrepreneurship, but it can mean two different things. Are you a light entrepreneur with your own business ID, or do you operate under an invoicing company’s business ID?
Start-up grant
Start-up grant (“starttiraha”) is a discretionary support intended to secure your livelihood during the early stages of entrepreneurship. Check your eligibility for the grant in advance!
Unemployment benefits for entrepreneurs
When you become a full-time entrepreneur, make sure you understand how your unemployment security is determined. Entrepreneurs have their own unemployment fund.
YEL insurance – security in various situations
Did you know that the YEL insurance affects an entrepreneur’s life much more broadly than just through pension accrual? And that your YEL income is not the same as your company’s turnover.
Diverse entrepreneurship
Entrepreneurship can be something you do alone or together with others. You can also make a social impact or share the risk among partners.
