Start-up grant supports early entrepreneurship
- News
Are you considering becoming an entrepreneur or switching from part-time to full-time entrepreneurship? The start-up grant is a type of subsidy meant for securing your livelihood in the early stages of starting a business. It affords you time to develop operations and gives you financial wiggle room when your business income has not stabilised yet.
The start-up grant is meant for entrepreneurs who are just getting started. It is used to support a person’s livelihood when their business activities are only getting started or when expanding from part-time business activities to full time. The subsidy is discretionary and targeted at situations where business income is still low in the early stages.
You can be granted a start-up grant if you live in Finland and set up a company in Finland. Apply for the subsidy before starting full-time business activities.
The amount of the start-up grant matches the basic component of earnings-related daily allowance and is paid for five days per week. The subsidy is initially granted for a maximum period of six months and can be extended up to a total of 12 months.
In practice, the start-up grant helps you focus on getting your business off the ground and established without constantly worrying about your income. It gives you time to find customers, develop services or products and build a profitable business.
How to apply for a start-up grant
When planning business activities and applying for a start-up grant, contact your local employment authority. You have to submit the start-up grant application before you start full-time business activities or expand your part-time business into full time.
When processing your application, the employment authority will assess whether you have the capacity to work as an entrepreneur and whether the planned business activities have the prerequisites of being profitable. Other conditions that are deemed necessary can also be set for getting the start-up grant.
Applications for the start-up grant are primarily submitted in the e-service, where you will fill in the application and attach the necessary appendices. When you receive a positive decision, you can apply for the payment of the start-up grant afterwards each month.