How to become an entrepreneur
Here you can find all the relevant information on how to become an entrepreneur. We hope these practical tips will help you get started. You can do it!
Path to Entrepreneurship
The Business Idea is usually connected with something that you love and that you want to get deeper to find the niche market where you have competitive advantages over other businesses exploring the same space. Creating the business concept and finding out the right niche in the market is the foundation of your entrepreneurial journey. A lot of research that is already available in the market; analyze them and find the area of demand and need for your product.
- Sequoia Capital: https://www.sequoiacap.com/article/writing-a-business-plan/
- Developing the concept, refining it and successive processes on turning it into a business entity. https://www.suomi.fi/company/starting-a-business/planning-business-activities/guide/from-a-business-idea-to-engaging-in-business/business-concept
- NewCo Helsinki: https://newcohelsinki.fi/en/services/business-plan/
- Finrep: https://finrepo.fi/en/establishing-company-business-plan-creation#1
- Business Oulu, Business planning guide: https://www.yritystulkki.fi/fi/alue/oulu/english/businessplan/
Free business advices are provided by these organizations in various cities in Finland
- Uusyrityskeskus Keskus: https://www.uusyrityskeskus.fi/in-english/
- My Enterprise Finland: https://oma.yrityssuomi.fi/home#
- Suomi.fi: https://www.suomi.fi/company
- Employment and Economic Development Office: http://toimistot.te-palvelut.fi/aloittaville-yrittajille
- Helsinki Business Hub: https://www.helsinkibusinesshub.fi/services/
- NewCo Helsinki: https://newcohelsinki.fi/en/startup-services/
- Business Tampere: https://businesstampere.com/fi/
- City of Turku: https://www.turku.fi/en/business-services/services-businesses/starting-business
- Business Lapland: https://www.lapland.fi/business/
- Business Oulu: https://www.businessoulu.com/en/company-services.html
There are 13 universities and 22 universities of applied sciences in Finland. And, most of them provide entrepreneurship related courses either as a major or minor studies in the curriculum.
Check the list here:
Besides the university studies, there are other organisations that are providing startup related courses and services. Some of them are listed here
- Aalto Ventures Program by Aalto University: https://avp.aalto.fi
- Entrepreneurship Intro by Aalto Ventures Program https://avp.aalto.fi/online-learning/
- Starting Up course by Kiuas, Maki.vc, Aalto Ventures Program & Reaktor: https://starting-up.org/en/
- Startup School by Haaga-Helia: https://startupschool.fi/
- Y-combinator: https://www.startupschool.org/
Finding the right team is the first step to building a strong and sustainable company. It is always not about the strength of your idea or product but the strength of your team that could determine the success and failure of the company. Here are some contents which can help to building solid teams
- The Hub: A free community platform tailored to the needs of Nordic growth startups. Find your next entrepreneurial-minded team member by posting a job on the Hub: https://thehub.io
- Kiuas Inside: Find co-founders, join projects and discover the best resources for founding a startup: https://inside.kiuas.com/
- In search of team members events by NewCo Helsinki: The event connects great ideas with business opportunity seekers and helps you find co-founders and team members you are searching for: https://newcohelsinki.fi/en/events/
- International HUB Tampere: Find suitable talents to build a company: https://www.tampere.fi/en/jobs-and-enterprise/international-talent-attraction-and-migration/international-hub-tampere.html
- Vinod Khosla, Founder of Khosla Ventures on How to Build and Manage Teams: https://www.ycombinator.com/library/7g-how-to-build-and-manage-teams-sus-2017
- CoFoundersLab: Find the people you’re looking for to build a company together: https://cofounderslab.com/
Networks are very essential for the long-term growth of your business. You’re going to need a lot of connections and resources in this entrepreneurial journey. So, remember to start building a network as early as possible that includes advisors, lawyers, investors, and other founders. Also, remember to attend as many events as possible early on in your journey. Here are lists of groups and events that you can attend to.
Startup & business events in Finland
Startup communities for networking
Start actively testing your business idea right away. Get out there, pitch it and try to sell it to as many people as possible. Make them believe in your product irrespective of if you are charging a premium or are operating a freemium model, you’ve got to be engaging customers and enrolling users from early on. This duration can very much help to evolve your product and find customers that are interested and willing to use it.
You can join accelerator programs and incubators that help you validate your idea, help you design your first prototypes of the product, help you find the right customers/investors and scale it. Here are some of accelerators and incubators in Finland
- Kiuas accelerator: https://www.kiuas.com/
- NewCo Helsinki Accelerator: https://newcohelsinki.fi/en/services/newco-helsinki-accelerator/
- Turbiini Accelerator: http://turbiini.net/?lang=en
- Vertical Health Accelerator: https://www.vertical.vc/
- Helsinki Think Company’s accelerator programs: https://thinkcompany.fi/projects/
More list can be found here:
A marketing plan is a report that outlines your marketing strategy for the coming year, quarter or month. Here are various articles that provide detailed information on the steps involved with creating a marketing plan for your business.
To start with, here the info that details the permits and registrations needed for an entrepreneur to live and work in Finland.
The Entreprises Finland provides information about general matters related to establish a company
The Finnish Patent and Registration Office (www.prh.fi) has more information about the forms and other practical matters. They register companies, associations and foundations, and they also register trademarks for products and services and provide design protection. They oversee and approve auditors and monitor foundations and the collective management of copyright.
The Finnish Business Information system (www.ytj.fi) can provide more information about the practical guidelines for setting up a business in Finland.
When you set up an enterprise, you must select its company form. The options are private entrepreneur, limited liability company, general partnership, limited partnership and cooperative. The forms of enterprise differ in many respects, but there are also similarities. Check this detailed list to get more information.
Get more information here on registering your company in the Trade Register and the Prepayment, Employers’ and VAT Registers.
One can apply for The Finnish Startup Permit makes it possible for international growth entrepreneurs to build a startup company in Finland and to become part of Finland’s vibrant startup ecosystem. The permit is meant for innovative startup founders coming from countries outside the European Union.
In many cases, you might want to pursue self-employment i.e. having your own trade name or ‘toiminimi’
General guide on becoming an entrepreneur in Finland: https://www.uusyrityskeskus.fi/wp-content/uploads/2020/04/SUK_GUIDE_2020_eng_verkkoon_linkit-1.pdf
Once you have a more polished product, active engagement with the engagement and data it will also be easier to raise money at this stage. The funding round will help you achieve the next milestone so that you can raise even more after that. Funding can be raised through. In Finland, all entrepreneurs in Finland can apply for public funding matching their own investments.
Dealflow Finland platform helps to make your company visible for thousands of investors. Through this platform, investors can easily find and directly contact your company.
Business Finland also offers funding research, product development, and many kinds of business development needs, especially for small and medium-sized companies
Finnvera provides financing for the start, growth and internationalisation of enterprises and guarantees against risks arising from exports.
Ely-keskus offers Kehittämisavustus for reinventing your business or expansion
Startup grants: The start-up grant is an allowance granted by the TE Office for a new entrepreneur. Read more details about this
Pääomasijoittajat (Finnish Venture Capital Association) FVCA is the industry body and public policy advocate for the venture capital and private equity industry in Finland.
Take that capital and use it to replicate your success and scale your business. Duplicate your successes, expand into new markets, strategically acquire other companies, increase your hiring, and propel you toward a profitable exit. Here are some articles on how to scale your business
Y Combinator: https://www.ycombinator.com/library/59-how-to-set-up-hire-and-scale-a-growth-strategy-and-team