Start-up grant - how to apply for it

Are you planning to apply for the Start-up grant and opening a new business? Here you can read about the application process and other important notes about applying for it!

The Start-up grant and how to apply for it?

The Start-up grant is intended for new entrepreneurs with the aim of promoting new business and employment. Start-up grants are granted by the municipal or regional employment services. 

When planning business operations and applying for a start-up grant, contact the employment authority in your area. Submit your grant application before starting full-time business operations or expanding your part-time business into full-time activity.

It is possible to apply and receive the grant even if you already have a existing business ID, but only when full-time business operations have not yet begun. It is best to apply for the grant before creating a business ID. 

Apply for a start-up grant and its payment primarily using an electronic form in the e-service. If you cannot use the e-service, use the printable form and submit the form to your employment authority.

The foundation of it all - The business plan

One of the necessities of the Start-up grant is creating and submitting a business plan. With a carefully created business plan and a profitability statement you can show the stability and profitability of your business idea. 

Start preparing the profitability calculation with the profit your company is aiming for. Determine the profit based on having enough money for living expenses.

You must include any possible benefits and income you receive on the planning, for example salary from an employment or student financial aid, parental allowance or pension payments. 

Substantial tax debt or non-payment record will also be taken into account in the application process. 

You can receive a start-up grant to support your entrepreneurship if

• you are an unemployed job seeker, or
• you are not unemployed, but start as a full-time entrepreneur after doing paid work, studying or household work or
• you are a part-time entrepreneur and you expand your business into a full-time business.

The following are also taken into account

• having adequate skills for the intended business
• the grant is necessary for the entrepreneur’s subsistence
• the business activity has the potential for continuous profitable activity

The competitive situation of companies in the relevant sector and the need for new enterprising in the area are also taken into consideration when deciding whether or not to award the grant. 

The start-up grant should ensure the income of a new entrepreneur during the estimated time required to get the business up and running, up to a maximum of 12 months. 

Please remember that the decision on the Start-up grant is done by the Employment Office. 

More information: 

JobMarket Finland

Ministry of Economic Affairs and Employment of Finland

Suomi.fi 

Uusyrityskeskus - Checklist for new entrepreneurs