Local SME’s are currently facing various challenges due to the pandemic and we at EnterpriseEspoo are prepared to help you by providing information on support opportunities, helping in finding solutions and, if necessary, referring you to the services provided by our extensive network of legal and financial experts. If you need one-to-one business advisory, do not hesitate to book an appointment via our online booking calendar.
Below you can find guidelines, links and resources to help you tackle the disruptions your business may be facing at the moment:
Rearrange your finances
- When you find your cash funds shrinking, contact your bank immediately. Many banks offer fixed term relief for financial pressure by issuing grace for mortgage and business loans. Financial institutions are prepared for increased demand and flexibility within the boundaries of the governing law.
- Update your cashflow calculation. Make two version 3-6 months ahead with current and your worst casescenario. You will have a clear picture of cash sufficiency and it will also play part in consecutive financing negotiations. We are ready to advise you about cashflow statement via online advisory – booking required.
- Adjust the prepayment tax by using Own Tax service if the profit is going to be lower than expected. For temporary payment difficulties one can seek payment arrangements via Tax Administrations service number 029 497 028, or by using Own Tax online service.
Contact your insurance company and your pension insurance company. You may be granted flexibility with making payments depending on your situation.
- Contact your landlord and ask for a temporary reduction on your rent or try to negotiate a payment plan.
- Discuss with your employees about working remotely, sick leaves, holidays, and possible layoffs in advance.
Financial support available for businesses affected by the Covid-19 outbreak
- Sole entrepreneurs: you may be eligible for a 2000 EUR grant provided by your municipality. Read more from this article.
- If the epidemic has caused a significant loss in your income and there is no work at the moment, register as a job seeker through the TE-office online service as soon as possible (video information for new customers). This will speed up the process of receiving unemployment allowance as an entrepreneur. Please note: you don’t have to quit your business in order to gain access to financial assistance in these circumstances.
- Eligible businesses can apply for Cost Support from the State Treasury as of 7.7.2020. Read more here.
Other helpful resources
- Free advisory is also available at Enterprise Finland Talousapu counselling service by calling +358 295 024 880. Service is open from Monday to Friday between 9 am and 4 pm.
- Startup Refugees Helpline for immigrant entrepreneurs in a need of information and advice related to business in the time of coronavirus is open from Monday to Friday excluding public holidays: 13.00-14.00 (service in Arabic): +358 44 958 9097 14.00-15.00 (service in English & Finnish): +358 44 9740420
- Follow the Federation of Finnish Enterprises’ (SuomenYrittäjät) website called Everything about Corona (in Finnish only) for Entrepreneurs. Especially follow the Q&A section (in English) that provides reliable information regarding employment relationships, agreements and financial matters concerning the current situation.
Our Business Advisory at Your service
Business Advisory will continue with rules and regulations duly noted.
Please book an appointment for advisory and you Business Advisor will send you a link for an online meeting. If needed, advisory can be carried over as telephone conversation.
If you already have booked a time, our specialist will contact you and send a link for online meeting.
Changes in our event calendar
We will not arrange info meetings nor provide group councelling until further notice. Previously announced business clinics may be arranged over online connection or as a webinar. We will inform about these changes separately.
This mode of operation is in effect immediately and until further notice. We will update these principles according to the situation.