Even the best business ideas, products or services don't just sell themselves. Financing is usually needed when starting up a business or developing an existing business. There is a list of financiers below. For more information on the respective form of funding, don't hesitate to get in touch with VASEK.
Banks lend money with collateral (house or other property). They offer different types of corporate lending, with their interest rates, repayments and collateral. Banks aim to minimise both their and entrepreneurs' risks, so it is important to have a well-thought-out business plan. They cooperate with Finnvera, a public organisation granting loans or guarantees. More info on Finnvera can be found below under Public Funding.
Venture capital is a collective concept for investing in a company's equity. Venture capitalists and business angels invest in operations to obtain shares in exchange for their investment. As an entrepreneur, one should be prepared to waive part of their shares. Companies with high growth potential will attract both national and international investments.
Business angels are individuals willing to invest in businesses.
Many different public organisations at local and national levels may support businesses. Examples of these organisations include the TE Employment Service Offices and Business Finland. Most often, also funding from the company's own assets is required.
Finnvera, collaborating with banks, is one of the public funders providing a wide range of credits, including loans against a personal guarantee.
www.finnvera.fi (credits, export financing)
www.tekes.fi (national programs, seed money)
www.mol.fi (wage and other subsidies)
www.ely-keskus.fi (development aid for investment, internationalisation)
www.nopef.com (interest-free loans that can be converted into subsidies)
www.finnfund.fi (venture financing, loans etc.)
www.finnpartnership.fi (internationalisation aid)
www.aktion.fi (rural development support)
www.yhyres.fi (rural development support)
A start-up grant aims to support starting new businesses and a person's employment. It ensures the entrepreneur's income for the estimated time it takes to establish business activities, with the maximum time being 12 months.
Enterprise Agency Startia will help and guide you every step of the way when starting a business. To apply for the start-up grant, you need to draw up a business plan with Startia's business advisor.