Have you decided to start a business? Great! Just a few more steps and your dream of being an entrepreneur will come true. We can help you through the different stages of setting it up.
How do you go about setting up a business in practice?
Make your dreams come true! When it’s time to start a business, it’s time to get down to the practicalities. Why not contact us and we’ll go through the various steps with you so you can set it up right. It’s important for your business to stand out with a good name and to protect your idea. We’ll help you choose the most suitable form for your company and go through the registration process with you. We can also sort out insurance, contracts, and the right accountancy firm for you too if you like, and put you in touch with the necessary experts to learn more.
You need an inner passion and conviction to be an entrepreneur
Many steps are needed when starting a business that require careful planning and execution. Described below are the most important of them: ranging from choosing a name, sector, and type of business and registering it, to raising finance and obtaining permits.
The key to a successful business start-up is that these steps are planned and carried out with the utmost care. It’s also advisable to consult experts such as lawyers and accountants to ensure that all legal and financial aspects of setting up the business are in order.
Practical steps to starting a business
Choosing your sector and type of business
The first step is to determine the business sector you want your company to be in. This can be based on your own skills, your interests or market research. Then you need to decide on the type of company: do you want to operate as a sole trader, set up a limited company, or perhaps a limited partnership? Each type of business has its advantages and disadvantages, so it’s important to choose the one that best suits your business needs. Find out more about choosing the right type of company on the Business Pilot webpage.
Financing the business
The next step is to find out how you’re going to finance your business. You can use your own savings, borrow money from a bank, or invest outside capital in it, e.g., through angel investors or venture capitalists. It’s therefore important to draw up a business plan that accurately assesses your finance needs and options.
Creating a business name
Choosing the right business name is an important part of building a brand. The name should be easily remembered, descriptive, and preferably unique. It’s important to ensure that the chosen name is not already in use or registered for use by another company. It’s also a good idea to check that a domain name is available for it.
Business registration and licensing
Once the source of financing and the company’s name have been decided on, and the sector and type of business chosen, it’s time to officially register the company. The procedure varies from country to country and region to region, but generally it’s an official register of companies or the equivalent. You will also need to obtain the necessary permits and legal documents, such as a business ID and VAT numbers. Then we can congratulate you on your newly founded business!
Book a time for consultation
Do you need help setting up your business, developing it further, or dealing with those everyday challenges of being an entrepreneur? Our business advisory service can help find your own direction, whatever stage you’re at!
Quick downloads – Useful materials for positive entrepreneurial energy
Have you reached the stage of starting a business where it’s time to draw up a business plan? Get off to a good start with the business plan templates from My Enterprise Finland and Uusyrityskeskus!
What things should you consider when setting up a company? What’s a good business idea, how do you make a business plan, and how do you choose the right type of business to register? Download our guide to starting a business!
A start-up grant provides support not only for entrepreneurs who are starting out but also those consolidating their business. Read more about the criteria for start-up grants on Job Market Finland’s website.
The Cooperative Founder’s Guide comprehensively describes the key issues involved in setting up a cooperative. It’s intended especially for those who are considering or already planning to set up a cooperative.
How much should you pay towards your pension as a self-employed person? What are the benefits of making YEL (pension) contributions? Find out with YEL calculator provided by Varma!
