Starter money

[Sisupoika]

Hi all, tried the search but couldn't find anything specifically concerning this. Does anyone have experience with the application for the starter money?
A friend of mine who did it got me in touch with two guys who make decide whether to accept or not applications, so I am hoping to hear from them ASAP.
I'd love to hear from others who also have experience with this, though.

Thanks!

[cors187]

I guess your talking about the starter money to a register a company to enter FIN?

[Sisupoika]

Yup (I think). It should be something like ~700 euros per month or so

[cors187]

As you go through all the details i think you will discover that having and lawfully showing you have enough money to live in finland and you have enough money to start your business in finland is the easy part.Your business plan needs to be rather exact in how it makes and earnes money and how it impacts on the local markets and associated arenas.

I am presuming you understand the documented paper trails that will come when you start to register a business and be lawfully allowed to reside in finland to conduct business?The info you have given suggests your concentrating on the money first?

[rinso]

I guess your talking about the starter money to a register a company to enter FIN?

Yup (I think). It should be something like ~700 euros per month or so

This sounds to me like pulling yourself up by your bootstraps. Asking for a hand out to show you have money to reside in Finland. Or do I misunderstand your quotes?

[Upphew]

http://www.mol.fi/mol/fi/04_yrittaminen ... /index.jsp

[Ross1983]

Hi all, tried the search but couldn't find anything specifically concerning this. Does anyone have experience with the application for the starter money?
A friend of mine who did it got me in touch with two guys who make decide whether to accept or not applications, so I am hoping to hear from them ASAP.
I'd love to hear from others who also have experience with this, though.

Thanks!

What kind of business are you looking to start up?

[Brent]

I believe you are talking about the Start up grants. You can find more information about it in the Becoming an Entrepreneur in Finland guide.

http://www.masuuni.info/images/masuuni_ ... 110524.pdf

[Sisupoika]

As you go through all the details i think you will discover that having and lawfully showing you have enough money to live in finland and you have enough money to start your business in finland is the easy part.

Good to know
Don't think I will have problems from this point of view.

Your business plan needs to be rather exact in how it makes and earnes money and how it impacts on the local markets and associated arenas.

I haven't heard from them yet - looks like they were on Easter leave - but what happens at the first meeting? Do they explain everything when I meet them or is there something I'd better prepare already before going there for the first meeting?

I am presuming you understand the documented paper trails that will come when you start to register a business and be lawfully allowed to reside in finland to conduct business?The info you have given suggests your concentrating on the money first?

I am not sure of what you mean? I am lawfully allowed to reside - family ties, regularly registered etc - and am not sure of what you mean especially about concentrating on money first. The reason I'd like to apply for this money is to get some help with some costs I will have with the main goal of the company (building some services - I will need to pay designers).

What kind of business are you looking to start up?

Building some web based services, and consultancy work in the beginning to have some income while I build those services.

[ThomasA]

The reason I'd like to apply for this money is to get some help with some costs I will have with the main goal of the company (building some services - I will need to pay designers)

the startup money is not an investment into the company but meant to help you pay for personal costs (rent, food, etc) during the initial phase of your business startup.
If you include this financing strategy into your business plan prepare yourself to be turned down on your request.

by the way...in 2011 the startup money was around 33€/working day (Mo-Fr) minus tax and paid around the middle of the following month (you have to fill out a form every month) and not paid upfront in a single payment

[cors187]

I am presuming you understand the documented paper trails that will come when you start to register a business and be lawfully allowed to reside in Finland to conduct business?The info you have given suggests your concentrating on the money first?

I am not sure of what you mean? I am lawfully allowed to reside - family ties, regularly registered etc - and am not sure of what you mean especially about concentrating on money first. The reason I'd like to apply for this money is to get some help with some costs I will have with the main goal of the company (building some services - I will need to pay designers).

Hi, I was just thinking that maybe when you start going through with the details of running your business, that you would discover things along the way that can and do change your mind about how you approach some of the earlier details you go through.
So what i was saying is "Keep pushing forward in constructing your complete business plan ,even when some details are missing (like start up money), because when you do push forward in the business plans often some of the first hurdles and questions become very transparent and easy .

[Ross1983]

Building some web based services, and consultancy work in the beginning to have some income while I build those services.

[/quote]


I think business's like that are 10 a penny here but its not my area of expertise. But I do know that with this kind of business and the way the economy is they will not give you a start up grant without the business being operational.

[Upphew]

business operating = no start money.

[Sisupoika]

The reason I'd like to apply for this money is to get some help with some costs I will have with the main goal of the company (building some services - I will need to pay designers)

the startup money is not an investment into the company but meant to help you pay for personal costs (rent, food, etc) during the initial phase of your business startup.
If you include this financing strategy into your business plan prepare yourself to be turned down on your request.

I understand it's not an investment, but has other meaning. I have just been clear with them, when I got in touch via email first (actually a friend of mine who got the start up grant got me in touch with them), saying I am going anyway to set up a company to offer consultancy services while I build some web based services on my own, for which that money would help me pay some costs. So I have explained why I would like to apply for the start up grant.

The preliminary explanation I provided seemed to be OK I then talked on the phone with them and got an appointment for this coming Friday. Due to the nature of what I want to do, they also said that at the meeting there will be someone from Spinno.fi, so to evaluate the various options I might have available (after evaluation, that is) and since I wouldn't be able to apply for anything else if I receive start up grant. Instead there might be a possibility with this incubator, which would be a lot better! I already told them on the phone that I am not looking at just some financial help, but also guidance and possibly training in entrepreneurship related matters, since while I can build some cool stuff from the technical point of view, I don't have yet direct experience running a business.

So.. sounds good so far... really looking forward to meeting them and the Spinno people and what I can do! And of course hoping that they will see potential in what I want to do, and therefore will help me realise it.

by the way...in 2011 the startup money was around 33€/working day (Mo-Fr) minus tax and paid around the middle of the following month (you have to fill out a form every month) and not paid upfront in a single payment

Yeah, doesn't sound like really much. That's why I was just thinking that this little money could just help me pay some costs (mainly designers, as said), and am wondering how this money is supposed to be enough to pay rent, food etc for someone starting a company?

[Sisupoika]

Hi, I was just thinking that maybe when you start going through with the details of running your business, that you would discover things along the way that can and do change your mind about how you approach some of the earlier details you go through.
So what i was saying is "Keep pushing forward in constructing your complete business plan ,even when some details are missing (like start up money), because when you do push forward in the business plans often some of the first hurdles and questions become very transparent and easy .

Oh, I forgot about the business plan. I have already received from them a preliminary business plan template that I need to prepare and send back within a couple days; it doesn't look anything complicated as I though, although there are some questions in it about financing etc that I am not too sure about - these are some of the things I'd love guidance for.