The self-employed person’s pension insurance (YEL) is one of the issues that nearly every new entrepreneur encounters right at the start of their business. For many entrepreneurs, YEL is a mandatory payment that seems tedious and raises questions about how much they should pay. In reality, however, YEL is much more than just a pension contribution.

Many new entrepreneurs ask themselves the same questions when starting a business: Can I handle my bookkeeping myself? When is double-entry bookkeeping necessary? At what point should I bring in an accountant?

Sometimes plans change, and it becomes time to close down a business and officially end a sole proprietorship. The process often involves more practical steps than people first expect. Together with Business Advisor Antti Alasaari, we went through the most important things to keep in mind.

One of the most important decisions you are going to make in the early stages of starting a business is choosing your company form. Company form affects many things, including the entrepreneur’s liability, taxation, social security, financing options and the company’s growth prospects. What the best option is for you depends on your business idea, your goals and the scope of your operations.

Setting the right price is one of the most important factors in a company’s profitability. A price that is too low may mean that the business does not cover all its costs, while a price that is too high may make it difficult to compete in the market. By understanding your own costs, the market situation, and the value of your product or service, you can build a sustainable and profitable pricing strategy and gain better control over your company’s finances and future development.

Hiring an employee is a significant step for many entrepreneurs. It enables growth and business development, but also brings responsibilities, obligations, and a new dimension of leadership. Successful employer practices are not only about meeting legal requirements, but also about building a healthy and well-functioning workplace.

A self-employed person’s personal life doesn’t stop just because they are running a business – nor should it. When expecting a child into the family, many self-employed people ask themselves these questions: Can I take parental leave? How is parental allowance calculated? Can I run my business while receiving parental allowance?

On Friday 27 March, Startia organized a breakfast event at Startup Factory in Vaasa, focusing on risk management in business. The participants included both aspiring and established entrepreneurs who wanted to gain a clearer understanding of what to keep track of when running a business.

To start a business, you need to secure adequate funding, but where do you start looking for this funding and how can you make sure you will get the support you need to start and run your business?

Light entrepreneurship has become an established way in Finland to work and sell one’s expertise without setting up a traditional company. A light entrepreneur can invoice clients through a service provider and focus on their work without the bureaucracy of accounting and administration. For this reason, the model is especially attractive to freelancers, experts, part-time entrepreneurs and others considering starting a business.

Entrepreneurship is full of decisions, reflections, and moments when an outside perspective can make a real difference. A business mentor offers exactly that: a trusted and free sparring partner with whom you can discuss your company’s direction, challenges, and opportunities.

Bankruptcy statistics in Finland show a worrying trend: According to the Finnish Tax Administration, there were 57% more bankruptcy filings in the first quarter of this year compared to the same period last year. Small businesses, sole proprietors, and service sectors are especially affected.