Information on Starting a Company

Information on Starting a Company


Forms of Entrepreneurship:

1. New Business Idea
2. Existing Business Idea
3. Buying a business
4. Franchisee
5. Part Time
6. Stockholder
7. Team Entrepreneurship
8. Sole trader

There are many factors that influence the form of entrepreneurship, some of the key ones are:
  • Number of founders
  • Continuity of operations (time in business)
  • Need for capital and its availability
  • Attitude of investors
  • Responsibilities and decision making
  • Profit sharing
  • Taxation

A sole trader can be a family wedded spouse. In a partnership there are no shares and the partners own 100% of the business. When it is general or limited you own the percentage of the amount invested. 

Business Idea:
Your business idea needs to be able to successfully answer the following questions:
  • What? 
  • For whom? 
  • How? 
  • What products or services? 
  • What issues are you solving? 
  • What are the measurable benefits?
  • Who are your customers?
  • How will you reach them?


Business Plan:

A business plan is composed by the following elements:

1. Business Idea
2. SWOT Analysis
3. Competence
4. Customers
5. Market and Competitors
6. Products and Services
7. Marketing and Advertising
8. Own business, location, etc
9. Financial Planning
10. Profitability and Sales Calculations
11. Financing

The business plan is used as a:
  •  Planning Tool
  • Foundation for personal business advice
  • Needed when applying for financing
  • Attachment to Finland's startup grant and finnvera application. 


For a template of a Finnish standard business plan and a free tool to create a business plan, you can visit:

www.business-plan.fi


Location: Helsinki, Finland

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