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Business Development & Finance in Finland

Primary Source for this page: Enterprise Finland

Introduction to SME's and Financing
This page focuses on public authorities, agencies and organizations which assist in development and financing of Finnish enterprises, in particular small and medium-sized enterprises (SME's).

Small and medium-sized enterprises (SME's)
A small and medium-sized enterprise is a firm with less than 250 employees and either an annual turnover of maximum €50 million or a balance sheet total of maximum €43 million. Businesses larger than this may not own more than 25% of the capital of an SME.
Source: Statistics Finland 2015

A small business is defined as a firm with less than 50 employees and either an annual turnover of maximum €10 million or a balance sheet total of maximum €10 million. Businesses larger than this may not own more than 25% of the capital of a small business.
Source: Statistics Finland 2015

Public financing
The principal objects of public financing are investments by SME's, as well as various development, research and product development projects. Funding may take the form of a subsidy, loan or guarantee. The enterprise’s equity may be strengthened by means of capital investment, loans and guarantees.

Enterprise Finland - Financing a New Business

Enterprise Finland provides information about a startup grant and the company's capital requirements (calculating investment and other costs).
The section includes the Terms, criteria, and application procedure for the TE Office Startup Grant, aimed at securing the livelihood of a person who becomes an entrepreneur during the time that it is estimated to be necessary to start and establish full-time business activity. The grant is for a maximum of 18 months.
Business Startup Financing: Enterprise Finland > In English > Information on running a business > Starting a business > Financing
Additional Financing information: Search Enterprise Finland for 'funding' and 'financing'

Enterprise Finland - Business Development Advice

Enterprise Finland provides advice on development and internationalisation of your business in Finland.

The Expanding the business operations section includes information on Franchising and Acquiring an enterprise or its business operations

The Developing the business section details Training that develops the business operations and The roles of the owners and Board of Directors

The Development of competence section looks at competence of employees and management, and examines development through Personnel training, Adult education, and Joint purchase education.

The Product and service development section provides advice on An idea's eligibility for development, Productising an idea, Commercialising a product, and Managing innovation activities.

The Internationalisation section is broken down into: Preparedness and planning for internationalisation, Starting international operations, Monitoring the markets and identifying opportunities, Funding for internationalisation, and Country information about Russia

The Employing section includes: Hiring an employee, Employer's responsibilities and obligations, Changes in employment, Assessing the need for and obtaining personnel, Management and managerial work, Working hour arrangements and flexibility, and Employees from abroad.

Business Development Advice: Enterprise Finland > In English > Information on running a business > Development, Internationalisation

ELY Centres - Advisory, Financing & Development Services

The Centre for Economic Development, Transport and the Environment ELY Centres support the establishment, growth and development of small and medium-sized enterprises by offering advisory, education and development services, and financing. Services offered by the ELY Centres cover the internationalisation of businesses, the improvement of business efficiency and management skills, the development of technology and innovations, further education for personnel and training for new employees. In addition, ELY Centres may also participate in the funding of development projects. Financial assistance is discretionary, the amount varying depending on the nature of the project.

Centre for Economic Development, Transport and the Environment: www.ely-keskus.fi > In English
Contact by telephone is via the Enterprise Finland Telephone Service:
Mon to Thu 08:00 - 17:00, Fri 10:00 - 18:00, Tel: 0295 020 500

ELY Links to National Service Providers:

Finnvera: Financial services for SME's

Finnvera is a specialised financing company owned by the State of Finland. It provides risk financing to enterprises with a sound business idea and preconditions for profitability when a company has insufficient collateral to raise funds for investments and development projects.

All sizes of enterprises and all business sectors, with the exception of basic agriculture, are eligible for Finnvera financial services. Finnvera's product portfolio covers all development stages of an enterprise, ranging from loans and guarantees for start-up and micro-enterprises to export credit guarantees for large Finnish exporters and their financiers.

Finnerva's web site is rather vast! Apart from information about its products, it includes useful sections about financing and development of enterprises in Finland, including:

Visit: www.finnerva.fi > In English

Pay Subsidy for Finnish Employers

In certain circumstances the Ministry of Economic Affairs and Employment can grant a subsidy for salary costs to an employer recruiting an unemployed jobseeker. The objective of work arranged through a pay subsidy is to improve the vocational skills, competence and labour market position of the unemployed jobseeker and to promote the access of those having been unemployed for long periods to the open labour market.

The pay subsidy is mainly used to employ persons who are long-term unemployed, disabled, young people aged less than 25 and jobless persons threatened by long-term unemployment or exclusion from the labour market. This subsidy can be received by State agencies and institutions, municipalities, companies and other private sector employers, such as associations, foundations and households.

Applying for a pay subsidy

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