Greater Choices for the Company Building Up Now

More and more people are starting to become self-employed in Finland. Starting a business is easy, but a good idea alone is not enough. With the GISI working on your behalf in building up global infrastructure, you need the best deal now. Plus, you must follow the trending technologies that can schedule your business to reach its target. Find out what a time clock system is here for a better understanding.

In the first quarter of 2019, up to 12% more companies were established through new business centers than in the corresponding period of the previous year. In January-March, a total of 2,087 new businesses were created through new business centers. However, the number of new business center customers did not increase proportionally.

This development is expected to be the result of a general economic recovery.

  • There is a relatively positive entrepreneurial climate.
  • If there is not enough job-related work, many people find it easier to get employed through entrepreneurship.

So there are plenty of start-ups, but something happens in the short term, because five years later, according to statistics, much of the business has left the market. Some have gone bankrupt, some have ceased trading.

How Can Business Be Sustained And Viable?

Three things are needed: business idea, knowledge and enthusiasm. Operations must be profitable and the entrepreneur must have the desire to develop them.

Profitability is the key word. A company has no future if it is unprofitable. Then it will not make a living for the entrepreneur himself and cannot employ others.

What Company Form And Name?

  • The first entrepreneur needs to think about the company form. Different forms of company involve different responsibilities and financial interests. For large-scale operations, a limited liability company is a good option. The business name is suitable for small-scale operations. Other forms of partnership are limited partnership, general partnership and cooperative.
  • Second, the company needs to come up with a memorable name.
  • Third, a business plan must be drawn up. If you want to be an entrepreneur, you have to think about what your products and services are, who they are aimed at and who is ready to buy them. Customers bring money to the company, and good customer service can stand out from the competition.
  • The quality of customer service matters. If that is bad, customers will move elsewhere. The role of customer service is particularly emphasized in service sectors, which are a major employer. The share of services in Finland’s GDP has increased at the same time as the share of industry has decreased. Private services make up the majority of all services.

Social Security At Your Own Risk

Declared earnings have an impact on social security, e.g. sickness allowances and future pension levels. It is therefore worth making sure that it is sufficient. It is often forgotten. The entrepreneur must also take care of his other insurance cover. As the entrepreneur is responsible for his own services and products, he has no consumer protection.