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The applications for the subsidy that restaurants have been waiting for open today. Business owners can use a service on the website of the KEHA Centre, the development and administration centre of the ELY Centres and TE services, to check whether they will receive group payment or not.

Active entrepreneurship among immigrants has long been a growing trend. For that reason, Suomen Yrittäjät surveyed immigrant entrepreneurs in late March and early April on the effects of coronavirus on their businesses.

Under the Money Laundering Act (rahanpesulaki), most businesses need to provide details of their beneficial owners – in practice, their owners – to the Trade Register by 1 July. Things like large cash sums paid by clients also need to be notified.

The amendments provide greater detail on pay and oblige foreign employers to compensate for travel, accommodation and meals and ensure certain accommodation conditions. Albert Mäkelä, a lawyer and specialist at Suomen Yrittäjät, says, “Regulating posted workers’ employment terms is important to prevent foreign companies from competing unfairly with Finnish ones.”

In its supplementary budget of 2019, the Finnish government decided to award project funding to start employment advice services for small businesses. The Ministry has invited Suomen Yrittäjät to run the project. The goal is to help small business owners and single-person businesses interested in hiring hire employees.

A two-part support package has been unveiled for restaurants which will, on the one hand, support re-hiring of staff, and, on the other, compensate for the disadvantages caused by restrictions. Restaurants were closed on 4 April with the exception of takeaway and deliveries. The total cost of the package is €123 million.

Company liquidations are being slowed down and the situation of companies in debt recovery is being made easier through temporary changes to the law. Extensions are also being granted for submitting financial statements.

Instead of looking at controversial examples, we should look at the big picture, says Mika Kuismanen, Vice President Economics and Chief Economics at Suomen Yrittäjät.

There are plans for easements to the financial situation of entrepreneurs who receive initial funding (starttiraha). Preparations are also being made to extend the duration of the funding.

Small and medium enterprises (SMEs) have received 21% of Finland’s EU funding. This proportion has doubled since the previous EU programming period. Taking part in the EU funding process allows you to build references and networks for your business.