The Business Kemi services are managed by:
The Business Kemi services are managed by:
Before you take your business idea forward, it's important to consider whether you're ready to dive into the life of an entrepreneur. Entrepreneurs are often multitaskers, adaptable to various roles as needed, and may not always count their working hours. However, you don't need to know everything yourself. Good networks and service providers are also crucial for entrepreneurs. Generally, success as an entrepreneur requires:
Of course, no one is born a master, and entrepreneurship skills can also be developed! However, it's worth testing how ready you are to take on the role of an entrepreneur.
Have you considered the option of buying a business? Instead of starting a new business, you can also become an entrepreneur by purchasing an existing company.
Below are the typical steps involved when starting a completely new business. However, business activities can also commence through the acquisition of an existing company, where you continue to develop the established business, or as a light entrepreneur, where you don't establish a new company but start operations through an existing invoicing service. Even in these situations, it's important to plan your business activities, and you can still take advantage of free business advice.
After our meeting, you'll likely have some homework to do, but you'll have a clear idea of what happens next.
Next, start moving forward with the issues discussed with the business advisor and address any specific questions that have arisen regarding your own business idea.
Usually, there's plenty to investigate, such as industry-specific permits, and this stage can vary greatly in duration depending on the entrepreneur.
The Tax Administration has compiled guidelines for aspiring entrepreneurs, as well as a straightforward newsletter series that explains the basics of business taxation.
Once you've found answers to your questions, it's time to refine your business plans and financial projections.
More important than having polished documents is that you, as an entrepreneur, develop a clear picture of your business and gain a realistic understanding of the financing needs and profitability of your venture.
Starting a business almost always requires money. Sometimes more, sometimes less. If you need more than what's in your own pocket, it's time to turn to financiers.
You'll need to convince a financier of the viability and profitability of your idea, and for this, you'll need a business plan.
The most common financier for a business is your own bank. Through them, you can also explore the possibility of Finnvera guarantees for your company.
Already in the first business advisory meeting, we'll discuss which legal form best supports your business activities, and the business advisor will explain the differences between various legal forms.
The final decision usually takes shape based on the company's operations and future goals. The company name is often already in the entrepreneur's mind well in advance, although changes can be made until the incorporation process.
The startup grant is support granted to individuals transitioning to full-time entrepreneurship in the early stages of business. It's not intended for running the business but rather to secure the livelihood of the aspiring entrepreneur. Often, new entrepreneurs may not be able to pay themselves a full salary initially, so the startup grant provides support during this early phase of entrepreneurship.
The startup grant is issued by TE Services, and there are specific conditions for eligibility. The support is discretionary, meaning it's not automatically granted to all applicants. Startup grant can be received only once, and the application must be submitted through TE Services' online service (Oma-Asioinnissa) before the company is established. Business Kemi's business advisors also assist with any questions related to the startup grant.
When you've received the decision on Start-Up Grant from TE Services and you've already progressed with the founding matters to the point where the company can officially be established, it's time to fill out the so-called incorporation documents, which are usually done electronically nowadays. This is a concrete moment for many aspiring entrepreneurs in the process of founding their company.
In the incorporation notification, you inform the Finnish Patent and Registration Office (PRH) as well as the Tax Administration of various registers. This makes your company an official entity. However, being part of these registers also entails various reporting and payment obligations.
New entrepreneurs generally need to register with the Trade Register (PRH). Additionally, any business, agricultural, or other income-generating activity needs to be registered with the Prepayment Register, while a business subject to VAT should be registered in the VAT Register. If you are regularly paying wages as an employer, you need to register with the Employer Register. All these three registers are maintained by the Tax Administration.
Fortunately, you can register with all these registers with one single notification through the YTJ electronic service. In the same service, you'll also report any future official changes to your company. A business advisor can assist you in drafting the incorporation notification.
When establishing a company, it's essential to note that you'll receive your business ID immediately or within a few days of submitting the incorporation notification. However, the registration of the company in different registers can take time, sometimes even weeks, so the business operations may not commence immediately after submitting the notification.
Compulsory YEL
Entrepreneurs must take care of their own pension and social security. For this purpose, there is an entrepreneur's pension insurance, YEL insurance. It is a statutory, or mandatory insurance practically for all entrepreneurs (including light entrepreneurs), whose insurance conditions are met. YEL insurance must be obtained within six months of starting operations.
YEL insurance is obtained from the pension insurance company of your choice, of which there are four in Finland: Elo, Ilmarinen, Varma, and Veritas. The price of the insurance cannot be negotiated. Obtaining insurance is possible with online banking credentials on the websites of these insurance companies.
Other Insurances
In addition to YEL insurance, depending on the company's business, it may be advisable to obtain other insurances that protect the company and its operations. These voluntary insurances can be obtained from other insurance companies, and it is advisable to always compare prices.
Once your company is registered and the necessary acquisitions and contracts to start operations are in place, the life of an entrepreneur begins!
To ensure that your business develops from the very beginning, alongside the daily operations, it's essential to allocate time for development.
Networking and exchanging experiences with other entrepreneurs are effective ways to grow as an entrepreneur. There are various networks for small businesses in the area. Kemi Entrepreneurs also offer mentors for budding entrepreneurs—a great way to exchange ideas with experienced professionals and enhance your entrepreneurial skills.
You'll get the most out of the meeting when you've already worked on your business idea to some extent.
Before the meeting:
