Leverage from the EU for entrepreneurship

EU funding improves Finnish know-how, employment and competitiveness. The aim is to ensure that Finland is a country with jobs, skilled people, a favourable atmosphere for new ideas and successful companies as well as a good environment in which to make a home, to live and to work. Assistance for the establishment and development of small and medium-sized companies plays a key role in the effort to reach these objectives. The objective of EU funding is to provide the best possible preconditions for entrepreneurship everywhere in Finland.

EU funding promotes the competitiveness and growth of companies and thereby boosts employment. The funding is intended especially to speed up the establishment, development, know-how and growth of SMEs. The intention is to direct funding particularly towards innovative new companies and growth companies, as well as companies at a watershed in their operations, such as companies preparing for a business succession. Service sector companies which are rapidly increasing in number and creating new jobs constitute a new area of focus. New businesses are sought after particularly in the creative sectors, the welfare sector and women’s entrepreneurship.

Funding is targeted at high-quality projects that promote business activity and improve the long term competitiveness of companies. Funding will concentrate especially on production and service sectors that are central to economic growth, employment, competitiveness and the improvement of productivity.

In addition to the development of individual companies, EU funding can also be granted to increase networking and improve the operating environment of companies. EU funding also makes education, development programmes and experts available to the entrepreneur. The skills of the management and personnel of companies boost competitiveness and productivity.

The European Regional Development Fund supports both the development of individual companies and the operating environment of companies. The assistance is targeted both at existing companies and start-up companies. The intention of the development of the operating environment is to offer companies the services they need and create the basis for cooperation networks that support business.

From the point of view of businesses, the funding of the European Social Fund can be used, for example, to train the personnel and management of the company, develop the operations of a companies or groups of companies or seek advice and expertise on business activities.

Support for the development of businesses is available from the European Regional Development Fund (ERDF) and the European Social Fund (ESF). An individual company can develop its products and operations, train its staff and receive aid for growth from the leverage of Structural Funds.