It’s not as hard to start a business as you might think. First, you need a strong will, an inspiration or an innovation for a business idea. Then, you need time and effort. Well planned is half done, so put your effort into planning.
You should start with making a solid business plan. You can, for example, use the Business Model Canvas template to visualize your ideas. You also have to choose your company form. Remember, that you need to submit a start-up notification form to the Trade Register to get a Business Identity Code for your company. You can find more information for starting a business from the final section of this blog.
A good business idea and plans are not enough to set up a business. You also need money. If you don’t have much savings, you need a financier. There are several different financiers, but you usually have to pledge money or property as guarantee for the loan.
Have you heard that Finnvera can provide partial guarantee if you are applying to a bank for a loan?
Finnvera’s Start Guarantee is a partial guarantee and can enable a bank loan for your company, but there are some criteria. Your company has to be newly launched. So, make sure no more than three years has passed since your company entered into the Trade Register. Your company has to be owned by a private individual or individuals. Above all, it has to meet the small and medium-sized enterprise (SME) definition set by EU.
Also, make sure that you have a solid business plan and a performance plan done before you apply for a loan. Finnvera’s Start Guarantee is based on an agreement between Finnvera and a bank. You apply to a bank for a loan and the bank submits the Start Guarantee application directly to Finnvera on your behalf. Finnvera has an agreement with all well-known Finnish banks. You can click the hyperlink to get more information on Finnvera’s Start Guarantee.
The Finnish Enterprise Agencies provide more information and help to start a business. They have published a guide to becoming an entrepreneur in Finland, where you can find information on the company forms. You can also find the “To-do list” for a new entrepreneur, important links and a business dictionary from the guide.
Moreover, I want to remind you that you might also have an opportunity to apply for a startup grant from the public employment and business services. Please, click the hyperlink above to get more information on the startup grant. You can click here to get general information on the start-up notification forms. If you are interested in the Business Model Canvas template, please click the hyperlink to download the template with your email address.
As you can see all the help and information is easily available on the Web. So, don’t hesitate to become an entrepreneur. Just get started the moment you get an inspiration!
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Start Guarantee 2018. Finnvera. https://www.finnvera.fi/eng/start/financial-planning/when-setting-up-a-business?source=3165. Cited 14.2.2018.
Startup grant 2018. Public employment and business services. http://www.te-palvelut.fi/te/en/employers/for_entrepreneurs/services_new_entrepreneurs/startup_grant/index.html. Cited 11.3.2018.
The Business Model Canvas 2018. Strategyzer. Https://strategyzer.com/canvas/business-model-canvas. Cited 11.3.2018.
The choice of company form 2018. The Finnish Enterprise Agencies. https://www.uusyrityskeskus.fi/yrityksen-perustaminen/yritysmuodon-valinta/. Cited 11.3.2018.
The Finnish Enterprise Agencies 2018. https://www.uusyrityskeskus.fi/in-english/. Cited 11.3.2018.
Trade Register 2018a. Finnish Patent and Registration Office. https://www.prh.fi/fi/kaupparekisteri.html. Cited 26.2.2018.
Trade Register 2018b. Finnish Patent and Registration Office. https://www.prh.fi/en/kaupparekisteri.html. Cited 26.2.2018.