NewCo Helsinki offers help to entrepreneurs affected by the coronavirus

NewCo Helsinki will continue to provide advisory services to Helsinki businesses and startups remotely until further notice and events will be organized as webinars.

As a new service our business advisors will also start advising entrepreneurs on how to deal with the coronavirus situation. Call tel. +358 (09) 310 36360 each weekday between the hours of 9-11 am for assistance. All of our services are free of charge and open to everyone.

If you wish to book a 45-minute appointment for remote business consulting, call the same number at tel. +358 (09) 310 36360, between 11 am and 1 pm. Please contact us at other times via email at: yrityshelsinki@hel.fi or startup@hel.fi.

Are you looking for information about operating support for sole entrepreneurs? Read instructions here. Instructions with pictures you can download here.

Coronavirus Info in other languages
Lue koronainfo suomeksi.
Koroonainfo lühidalt eesti keeles
Краткая информация о коронa ситуации

Links to important information and services:

In addition to our free advisory services, NewCo Helsinki has compiled a list with links to information and services for supporting entrepreneurs during the novel coronavirus pandemic.

Helsinki Mayor Jan Vapaavuori has been holding regular briefings in Finnish to inform the Helsinki population about the latest municipal decisions associated with the coronavirus outbreak. You can watch the videos on the City Helsinki’s video streaming service and via the City of Helsinki Facebook account. The city also publishes all of the latest news on the coronavirus situation in English on the City of Helsinki website.

The City of Helsinki has announced series of payment waivers and refunds to compensate for coronavirus closures.

The City of Helsinki offers comprehensive employment services for Helsinki residents and supports the employers of the Helsinki Metropolitan Area with employment along with Uusimaa TE Services.

Suomen Yrittäjät, an interest and service organization for small and medium-sized enterprises (SMEs) and their owners in Finland, features news and FAQs on the coronavirus and its effects on businesses on its website.

Suomen Yrittäjät also offers the services of a lawyer and a therapist via its #ostapieneltä (Buy from SMEs) support group on Facebook. The lawyer answers questions on weekdays between 3 pm and 8 pm, and the therapist moderates the group for three hours each day.

The Confederation of Finnish Industries (EK), Finland’s largest interest group working on behalf of the Finnish business community, proposes a 10-point list of (temporary) emergency actions to be taken to save businesses during the coronavirus crisis on its website.

Business Mentors Finland, a non-profit association dedicated to helping small businesses get off the ground and achieve their goals through mentorship, offers mentor support for businesses in the Helsinki metropolitan area during this difficult financial situation. All you have to do to be assigned with a mentor is fill out the request form.

Startup Refugees has written a informative Guide to Entrepreneurs for Corona Virus Era. The guide is available also in Somaliin Arabic and in Farsi.

Public authority websites

Employees of the Finnish Patent and Registers Office (PRH) are also telecommuting, so its face-to-face customer services are on hold until further notice. Online services will continue, however, and customers can call tel. 029 509 5050 every weekday from 9 am to 4:15 pm with questions. The website has an explanation of the changes at PRH due to the coronavirus, and you can find a list of the office’s online services on their website.

Finland’s Tax Administration (Vero) has introduced several changes due to the coronavirus situation. Among other things, businesses can apply for additional time to submit their tax returns, the Tax Administration will waive the fine for submitting returns late with a valid reason, and the terms of payment arrangements will be eased for the time being, in light of the situation. Find updated information on how the coronavirus has affected the filing and paying of taxes and taxpayer services on the website.

Finland’s Ministry of Finance website contains, among other things, questions and answers about the impact of the coronavirus and a link to government advice and information on coronavirus

The specialists from the Finnish Institute of Occupational Health (FIOH) have prepared guidelines for employers and employees for the coronavirus epidemic.

Support and Compensation for Catering Companies

The model consists of two complementary parts, both of which can be received. The application opened on 5.6.2020.

1 Remuneration for business restriction

  • Reasonable remuneration for costs incurred under the business restriction
  • Remuneration is granted for rents for premises, costs for plumbing and electricity and similar inflexible running expenses incurred by the entrepreneur, that is not raw material purchases or labour costs, nor investment costs.
  • Remuneration is distributed on the change caused by the company’s sales under the restriction.
  • The reimbursement amount is 15% of sales-based comparative figures up to a maximum of EUR 1 million and 5% of exceeding amounts.  The maximum amount of remuneration is EUR 500,000.

The allowance is usually paid without an application, so-called mass payment. You can check if the company is subject to automatic mass payment or application process by means of a web request based on Business ID.

If your company is not covered by automatic payment, support is sought in an instalment and with an application. The application is open until 31.8.2020.

Read more info on the website of KEHA-keskus.

2 Support for re-employment

  • Support for preparedness and ability to employ workers at a level that corresponds to the situation before the Corona epidemic when operations start after the restriction period.
  • The support can also be directed to the payment of hired labour obtained through staffing companies or subcontractors.

The support is granted and paid on application by the company even before the company has actually paid the salary to the employee or the bill to the staffing company. The application must be submitted by 31.10.2020.

Read more info and instructions on how to apply on the website of KEHA-keskus.

Economy and finance

Enterprise Finland’s Talousapu advisory service has established a national helpline for guidance on what to do in situations caused by the coronavirus crisis. Call tel. + 358 29 502 4880 for service in Finnish, Swedish or English on weekdays from 9 am to 4 pm. The service also provides help to businesses with financial and payment issues for the cost of a normal phone call.

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. Applications will be accepted until 30 September 2020.

Municipalities where the business is registered will begin taking applications soon. As of 20 April, the City of Helsinki is taking applications for operating support for financial losses caused by the coronavirus epidemic. For more information and instructions here.

The application periods for regional economic development offices representing central government, or ELY Centres, and the investment promotion agency Business Finland grants have ended on 8 June 2020 at 4.15 pm.

The new cost support can be applied for from the State Treasury as of 7.7.2020. The application is carried out through an electronic application. The support can be applied for until 31.8.2020.

The support is aimed at companies whose turnover has decreased significantly as a result of the coronavirus pandemic and who have costs that are difficult to adjust to. The support is effected by fixed costs and salary costs for the support period of 1.4.–31.5.2020. Further information on the State Treasury’s website and eligible business fields can be checked here.

The state financing company Finnvera says it is ready and willing to increase corporate financing of SMEs to help enterprises make it through the coronavirus crisis. Call tel. 029 460 2582 for free financial advice every weekday from 9 am to 4:15 pm. See the website for more information on how Finnvera can help enterprises in these exceptional times.

Business Finland’s RDI loans in disruptive circumstances. The temporary research, development, and innovation loan is intended for SMEs and midcap-companies employing at least six people and operating in Finland and for foundations and associations doing significant business.

The funding deviates from Business Finland’s normal RDI funding in that the company’s solution does not need to aim for an international competitive advantage.

Companies can apply temporary loan funding until the end of 2020. Project implementation may continue also after the deadline for applications. Further information on Business Finland’s website.

Tasekirjailijat ry, an association of independent practitioners in the field of financial management, training and networking, has gathered information on how to overcome to financial challenges caused by the coronavirus into one handy pdf document.

Entrepreneur’s unemployment security

Entrepreneurs are temporarily entitled to labour market support to deal with the sudden and unforeseen decline in demand due to the coronavirus epidemic. This solution applies to all entrepreneurs regardless of the type of business. The Act will remain in force until 31 December 2020.

Labour market support can be paid to entrepreneurs between 16 March and 31 December 2020. If an entrepreneur registers as a jobseeker by 15 April 2020, they will be entitled to labour market support for the period starting on 16 March, even if they were not registered as a jobseeker at that time. However, the support will not be paid until the conditions are met.

Read press release (7th April) of Ministry of Economic Affairs and Employment of Finland and also questions and answers on entrepreneurs’ right to social security.

TE Services has published important information for entrepreneurs registering as jobseekers. Due to the rapid preparation of the amendment and its fixed-term entry into force, it has not been possible to edit the TE Services’ online service to meet the changed requirements. For this reason, the registration form still includes questions that you must answer in the same way as those who are registering for some other reason. TE Services have also published Registering as a jobseeker in E-services step by step -guide in Finnish.

You can apply for labour market subsidy through Kela’s online customer service. Read more on the website of Kela.

The Unemployment Fund for Finnish Entrepreneurs (SYT) has put together instructions in Finnish on what to do if an entrepreneur is placed in quarantine or contracts the coronavirus, as well as information in English about what happens if you go out of business.