Finance and funding for new businesses

It is a good idea to seek personalized business advice before applying for funding or making the decision to start a business. Your business advisor will provide tips for creating your business plan and ensure your profitability and financial projections are accurate.

You can find business plan templates and calculation templates in our resource bank.(external link, opens in a new window)

In addition to our business advisors, you have access to our local network of experts, who can also assist with financing. The first consultation with an expert is free of charge. Book an appointment with a business advisor.

The start-up grant is a discretionary grant awarded to new entrepreneurs by the City of Espoo. The purpose of the grant is to support new entrepreneurs during the early stages of their full-time entrepreneurship when their business is not yet generating much income. Do this to apply for a start-up grant:

1. Book an appointment with a Business Espoo advisor
   • You need to have an appointment with Business Espoo’s business advisor to apply for a start-up grant.
   • Business advisors help new entrepreneurs make the required business plans and calculations for free.
   • Book an appointment with a business advisor.
2. Apply for a start-up grant
   • You cannot start full-time business activities before you have submitted your application to Espoo Employment Services. Submit your application through Job Market Finland’s E-services(external link, opens in a new window).
   • Read more about the conditions for receiving a start-up grant and how to apply in the Service Manual of Uusimaa Employment Services(external link, opens in a new window).
   • You can check application processing times on the website of Employment Services.
   • You can start full-time business activities after submitting your start-up grant application. We will contact you when we start processing your application.
3. Submit a payment application
   • If you have been awarded a start-up grant, apply for payment through the regional administration e-service(external link, opens in a new window) for employment and economic development services. 

   • Start-up grants are paid retroactively.

     Enquiries about start-up grants: starttiraha@espoo.fi

Businesses pay income tax based on their profits or estimates, with advance payments made throughout the year. The type of business affects income tax: as a sole proprietor, the income you earn from your business is taxed as your personal income, while a limited company (Osakeyhtiö) is an independent taxpayer. For more information about business income tax and how the business form impacts taxation, visit the Suomi.fi website.(external link, opens in a new window)

In addition to income tax, your business is subject to value-added tax (VAT) if it sells goods or services. This tax is intended to be paid by consumers, but businesses collect the tax on behalf of the government. As an entrepreneur, you include VAT in your sales prices and remit the collected tax to the government. You can also deduct the VAT paid on your business's purchases from the VAT owed on sales. For more details about VAT and how to report it, visit the Suomi.fi website.(external link, opens in a new window)

All businesses are required to maintain accounting records. Accounting includes information about business transactions, such as sales, purchases, and other financial transactions. Its primary purpose is to provide information about the company’s financial status, including profitability, solvency, and liquidity. Based on accounting records, a business can also prepare financial tools, such as budgets, profitability calculations, and cash flow forecasts. Additionally, an annual financial statement is prepared from the accounting records, showing the company’s financial performance.

It is often advisable to outsource accounting services to an accounting firm, but it is also important to have a basic understanding of how it works. For more information about business accounting, visit the Uusyrityskeskus website.(external link, opens in a new window)

We offer employers various types of financial support for hiring employees.

• Pay subsidy(external link, opens in a new window)
• Subsidy for arranging working conditions(external link, opens in a new window) 
• The Espoo supplement for employment
• Summer job voucher.