Entrepreneurship

When you want to start a business, you need to consider whether you have a good and viable business idea. It all starts with a good business idea. You should also consider whether you have the right skills in the industry. Remember that entrepreneurship also involves risks. Adequate funding and careful planning are essential.

When you get an idea for a business, you should contact the Business Service Centre. In the Kotka-Hamina region, this is Cursor Oy.
Cursor’s experts will help you develop your business idea, and help you through the different stages of setting up and starting a business. Cursor also provides up-to-date information on entrepreneurship in the Kotka-Hamina region and Loviisa.

A business plan is worthwhile because it helps to structure the practical implementation of the business idea and assess its viability. It allows you to plan the different aspects of your business, such as customers, competitors, marketing, finances and risks. A well-drafted plan is also an important tool for accessing finance and developing your business, as it shows that you are familiar with your industry and prepared for possible future challenges.

Carefully plan the financing of your business before you start up. It is important that you have enough capital at the beginning. Financing your business can also be partly in the form of loan money. When you apply for funding, you should have a proper business plan.

You can also get start-up money in the early stages of entrepreneurship. Start-up money is a grant for a new entrepreneur, designed to help the entrepreneur when the income from the business is still small. In the Kotka-Hamina region, start-up money is granted by the Etelä-Kymenlaakso Työelämäpalvelut.

When you set up a business, you need to choose the type of company. The different types of company in Finland are a business name, a general partnership, a limited partnership, a limited liability company and a cooperative. When you are thinking about choosing a company form, you should definitely contact Cursor’s business advice service.

Business name

The simplest and most popular way to start a business is as a sole trader with a business name. You have the decision-making power and responsibility for the affairs of the business, and you can hire employees just like any other business. It is often worth starting a side business as a trading company. Starting a business is quick and simple.

Limited company

A limited company is the most common form of company in Finland. A limited company is suitable for all types of business. You can set up a limited liability company either alone or together with other shareholders. Your voting rights, profits and liability in the company depend on how many shares you own.

General partnership

A general partnership is created when two or more persons agree to form one by signing a partnership agreement. The partners, i.e. the persons involved in the company, are equal in all the company’s activities and are jointly and severally liable for the company’s decisions, commitments and debts.

Limited partnership

A limited partnership is a partnership that differs from a general partnership in that, in addition to one or more general partners, it has at least one silent partner, i.e. a person with an interest in the company, usually acting as an investor.

Cooperative

A cooperative is a company owned by its members. A cooperative may have one or more members. Each member has one vote at a meeting of the cooperative. The members are only liable for the cooperative’s commitments (e.g. debts) with the amount of money they have invested in the cooperative.