The Ministry of Economic Affairs and Employment and the Association of Finnish Local and Regional Authorities have prepared a financing model for sole entrepreneurs to help them cope with the conditions caused by the coronavirus.

The support available to sole entrepreneurs is a lump-sum payment of EUR 2,000, which is intended to cover costs arising from the entrepreneur’s business activities. These include, for example, the costs of premises and equipment purchased for business purposes, as well as accounting and office expenses. Eligible costs are those incurred between 16 March and 31 August 2020.

To be eligible for support, the entrepreneur is required to prove that their financial situation and turnover have deteriorated after 16 March 2020 due to the coronavirus outbreak, and that they have the potential for profitable business. A sole entrepreneur means a full-time entrepreneur who is engaged in economic activity in Finland alone and has no employees on payroll. To be considered a full-time entrepreneur, the person must be insured under the self-employed persons’ pension insurance (YEL) or able to produce records of an annual entrepreneurial income or invoicing of at least EUR 20,000. The legal form of activity or source of financing is irrelevant.

According to the most recent policy decision, the support to sole entrepreneurs does not exclude unemployment security, and vice versa. This means entrepreneurs can apply for both the support to sole entrepreneurs and unemployment security. These will not be coordinated; in other words, being eligible for one form of support will not affect entitlement to or amount of the other.

The application process and form is in Finnish and Swedish. Support in other languages to file the application is available at Työpiste, Employment Services at City of Turku.

Please contact the following persons for assistance: