Start-up grant – support for new entrepreneurs
Start-up grants are intended for new entrepreneurs with the aim of promoting new business and employment. A start-up grant ensures an income for an aspiring entrepreneur during the estimated period of time required to get the business up and running, up to a maximum of 18 months. Start-up grants are awarded by the employment and economic development offices (TE Offices).
Preconditions for receiving the start-up grant include:
- being a full-time entrepreneur
- having adequate capabilities for the intended business
- the grant is necessary for the entrepreneur’s subsistence
- the business activity has the potential for continuous profitable activity
- business activities are only started after the grant has been awarded.
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 amount of the start-up grant is at least equal to the basic unemployment allowance, and it is paid for a maximum of five days per week. In 2016, the start-up grant is EUR 32.68/day, or approximately EUR 702/month, not including the possible supplementary grant. The start-up grant is counted as personal, taxable income for the entrepreneur.
More information on services for new entrepreneurs and start-up grant applications:
- TE-service.fi online service
- My Enterprise Finland online service: My Enterprise Finland contains information, tools, service directories and online services for both new and established companies.
Further information: Kirsi Hyttinen, kirsi.hyttinen(at)tem.fi