What to know when setting up a business
Once the business plan and calculations are drawn up, setting up a business is not that complicated. However, there are a few things you need to look into and sort out, for example contracts, permissions, notices to authority registers as well as insurance, such as YEL.
Choosing the form of enterprise is also a part of setting up a business. The answer depends on the business plan, type of business operations, amount of entrepreneurs, need of finance and taxation.
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Financing a business
In the early stages of a business, money is always needed to start up operations and make initial investments. The amount of funding needed depends on your business idea and varies greatly between industries. You can work out your financing needs for starting a business by performing a financing calculation.
Loans for businesses are granted by banks and other financial institutions, such as Finnvera. As an entrepreneur, you usually invest also your own money or property in the business. You may be granted a start-up grant to secure your livelihood in the beginning of your entrepreneurial career.
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Familiarise yourself with the start-up guide
In the many-sided and comprehensive guide you can read about for example what your business plan should look like, how to apply for a start-up grant and how to register your enterprise.
Is the YEL worth taking?
The only obligatory form of insurance that entrepreneurs must take is pension insurance for the self-employed, known as YEL. Although the name refers to a pension, it secures your life in a much broader sense.
License, notification or registering?
Will you need to get a business license, submit notifications or register the company based on your intended operations? Will your business operations require approval by an authority or special professional qualifications?
Book a meeting
with a business advisor
The Enterprise Agencies provide you with support and counseling free of charge. Take advantage of the unbiassed help from our experts immediately when thinking of becoming an entrepreneur!
Click yourself to the homepage of your nearest Enterprise Agency – sign up for an entrepreneurship info or book a personal business advisor meeting.
Contact us, take part in an entrepreneurship info or book a meeting for counselling
There are 36 enterprise agencies at your service in Finland.
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