Slightly less than 94 percent of businesses in Finland are micro-enterprises that employ less than 10 persons. The amount may separately sound small but actually, these small businesses are those that create new jobs in our country. According to a study conducted for The Finnish Enterprise Agencies, newly found businesses employ some 1.3 persons on an average and after five years even 2.6 persons.
Tommi Virkama

But what is it that makes a business so vital that it will still continue its operations after the critical first years, and even at a growing pace? Approximately half of the Finnish enterprises close down after the first three years. Businesses that have received help and support from Enterprise Agencies with starting up fare better than the average, since even 90 percent out of them are operational two years and 80 percent even after five years from starting operations. As a conclusion, one might say that businesses that have received founding counselling have better chances of survival and that less viable business ideas have either been refined into something more functioning or left altogether unimplemented.

A little less than 200 businesses are founded yearly with the help of Vaasa Region Enterprise Agency Startia, which comprises more than a third of all businesses founded in the area. Thus, the businesses founded via Startia last year employ in total some 500 persons in the region in five years. The survival rates of businesses that have received founding counselling speak for the fact that it would be useful for even a larger amount of starting entrepreneurs to find their way here. Enterprise agencies are a source of employing and growing enterprises.

It is easy to set up a business on the internet, but who is there to encourage the entrepreneur, help them develop the business idea and urge to draw up thorough calculations? The importance of mentoring for entrepreneurs especially when initiating business operations. We business advisors around the country offer our expertise for everyone who is interested in entrepreneurship.

When you set up a business, do something that you are good at! Do something that you enjoy, since you can decide yourself and be your own boss. And remember that one great way to start a business is buying one that is already existing. We also give advice in matters regarding acquisitions – always free of charge.

Column published on Vaasa Insider 16.5.2019 (in Finnish).

 

Tommi Virkama
Tommi Virkama
Manager of Startia
+358 400 919 361
New entrepreneurs

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