Tips for launching a business in Finland

To start a business in Finland, you don’t actually need to be a resident of Finland. That’s the first misconception about business in Finland.

If you’re starting a business in this country, you will need to do a little bit of groundwork first. By browsing Suomiarvostelut you will learn about the business laws, look up the various consultants you could approach for advice, the type of accountants, banks, property rental companies, and so much more. People share their opinions on peer review websites to help others in knowing what to expect when dealing with companies. You will be able to know more about companies such as Risicum by reading their customers’ reviews and insights.

Starting a business is straightforward. You’ll need to select a business name, open a bank account, file a ‘Start of Business Notification’, establish a limited liability company through the Finnish Business Information Systems channels.

As a foreigner, you’re allowed and eligible to set up companies in Finland. The company structure must be set forth as a limited liability or a private/public organization through a local company as a branch, a partnership or co-operative with a local company, or establish a branch for an organization or foundation.

Foreigners may also outright purchase businesses or acquire managing shares in a business.

Of course, the steps to open a business – as straightforward as they are – can be tricky and overwhelming to complete and follow. These are: to develop your business plan, activate your business plan, source financing, and structure your business along with legal and financial frameworks.

With a population of just 5.5 million, Finland has a strong culture of self-employment and entrepreneurship. The Finnish government has instituted an infrastructure that spans the financial, legal, and governmental branches to remove obstacles for entrepreneurs to start a business. The government has actually created a free business advice platform from which new or established businesses can seek advice or support. This relates to market research, financial modelling, financial loans, and other tools to aid entrepreneurs to successfully take their ideas to fruition with a sustainable business.
Starttiraha (start-up loans) are a popular way of acquiring financial help – and the government aids with this sourcing. This is also not limited to new businesses: established businesses can also access these “starttiraha” for enhancing their business through investment loans.

Lean on the government’s free support to grow your idea. Through these structures the Finnish government has established, entrepreneurs and small businesses have access to networking facilities too.

The Finnish work culture brings access to talent through universities, schools, academies, and colleges. The well-established government Business Information System means that companies and start-ups have a better chance of survival on the tricky path to business sustainability.

Finland might be a small market, but it is the doorway to Finland for many brands, products, and companies. With that comes access to investors: a smaller pool of businesses means a greater chance of increased investment. Finland is also rich in innovation and creativity: there is plenty of support for your business – if you know where to look.

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