Business grants and their terms and conditions

Business grant opportunities for entrepreneurs come in many different formats.

For example, you can apply for subsidies for different types of businesses or for different development needs.

This fact sheet provides examples of different types of financial aid. Each aid measure is designed for a specific purpose, such as development or investment, or for certain types of enterprises that have specific challenges due to the size of the company, its industry, geographical location, etc.

You can also apply for a business grant to partially cover a specific type of development cost, such as purchased services, construction and investment costs, salaries, travel expenses, etc. The grant is always awarded on a discretionary basis.

If you are planning a development or investment project for your company, please contact a business advisor at VASEK for more information or book an appointment.

Please submit your application for a business grant either to the ELY Centre, Business Finland or your local development association. For more information go to www.ely-keskus.fi/en/web/ely-en , www.businessfinland.fi/en/for-finnish-customers/home , www.aktion.fi , www.yhyres.fi/in-english/ .

Business funding for rural areas

Small enterprises employing the full-time equivalent of 1–5 people

www.yhyres.fi/in-english/ (Kyrönmaa), www.aktion.fi (Swedish-speaking Ostrobothnia from Kokkola to Kristinestad with the exception of the central areas of Vaasa and Kokkola).

Preparation package
€2,000, one-off payment for a purchased service consisting of expert assistance at the start-up phase. You can only receive this once.
Start-up aid
This funding is paid afterwards and is mainly available for coaching purposes and other expert services. Small amounts of funding are also available for professional development, equipment and rent for business premises, user fees, materials and tools, and travel expenses. May be used for minor purchases.
€5,000, one-off payment for a part-time entrepreneur with an annual turnover of at least €10,000, working 10–35 hours per week. Also for seasonal work.
€7,500, one-off payment for a part-time entrepreneur with an annual turnover of at least €15,000.
Business development package
€3,000, standardised one-off payment for the development of an established business.
Investment funding
Funding rate 20–40% (depending on the location of the company and whether funding is applied for as de minimis aid). For investments that are important for starting, growing or developing a business.
The project budget should be between €5,000 and €100,000.
Covers: acquisition of buildings, new construction, renovations, extensions, new and used machinery, tools, equipment. Also for immaterial investments such as software, cloud services, patents, licences, copyrights and trademarks.
Energy Aid
New investments, 30% Only for businesses in sparsely populated and rural areas, which in the Vaasa region include Korsnäs, Vörå (excluding the centre of Maxmo), Isokyrö (excluding Tervajoki), and in Malax including only Petalax, Svarvar and Bergö. Companies in Vaasa, Korsholm and Laihia are not eligible for energy aid. For renewable energy, such as solar panels, heat pumps and new control systems.
Funding for change of ownership

Only for businesses in sparsely populated and rural areas
Awarded to a person without a business ID or to a micro-enterprise with a business ID
One-off payment of €2,500 or €5,000 to the buyer, not the seller!
Expert services relating to preparations for a change of ownership

For enterprises employing more than 5 people

Investment grant (Finnish)

An investment grant may be awarded, for example, for the construction, renovation or acquisition of real estate, the purchase of new machinery and equipment, or for long-term intangible assets. The investment must be crucial to the establishment, growth or development of the business. The prerequisite for an investment grant is that there is a significant change to the enterprise’s activities. An enterprise can receive 20% funding for investments if it has fewer than 50 employees (1–49 people) or if the investment amounts to at least €100,000. However, the investment should meet the requirement of representing at least 5–10% of the company’s turnover.

In general, the investment grant for businesses in rural areas is 20%, but in some cases it can be higher, amounting to 25–40% depending on the size of the business, its geographical location, food processing activities (Annex 1 products) or if the grant is awarded as de minimis aid. The grant rate for investments in biogas plants is 50%.

The industries below are excluded from the above business grant schemes:

traffic and transport, except for bioenergy structures
retail, wholesale and imports
personal services offered in the local market (such as hair salons, beauty salons, massage therapists)
earth works
the building sector, including HPAC and electricity, if the company’s activities consist only of contract work
restaurant activities, such as bars, cafés and lunch restaurants, except for the tourism sector
the purchase of mobile machinery, such as tractors and construction machinery
the purchase of vehicles
rental activities, except for tourism rental activities
horse and racing stables with less than 10 stalls

Business development aid

All enterprises (in Finnish)

financial aid for small and medium-sized enterprises to help them with their development measures and investments when they are starting up or wish to make significant investments in order to modernise or grow the company.
for developing an existing business or creating completely new kinds of business activities for the company. The company may also aim to improve its export and internationalisation opportunities or to seek growth by developing new products, services or production methods. A company may want to try to reach new markets or explore new business opportunities.
Expenditure on wages and salaries, consultancy, travel, participation in trade fairs and other similar costs related to development measures may be subsidised by up to 50% of the eligible expenditure. Depending on the size and location of the company, investments included in a project may be subsidised by up to 10–40% of the eligible expenditure.

A rule that applies to all companies:

A company can receive no more than €300,000 in de minimis aid over three fiscal years. Aid may be granted for eligible and reasonable costs incurred after the date on which the application for aid has been submitted for the measures covered by the aid.

Applications are to be submitted online, and the project will be under consideration once you have received an acknowledgement that your application has been received. To apply online, you will need to use the identification service for public administration e-services; check out this link.

Do not start the project before the processing of the aid application is under consideration. If an applicant starts their project before receiving the ELY Centre’s funding decision, they do so at their own risk.

Fisheries business grant

Development projects are eligible for funding if they are carried out by commercial fishermen or a fishermen’s syndicate or joint venture. For more information visit the European Maritime and Fisheries Fund’s website.

Business Finland funding

More information on Business Finland's webpage.

Innovation Voucher ‒ Buy new information and expertise for your company
Exhibition Explorer ‒ Take part in international trade fairs abroad
Market Explorer ‒ Acquire information about a new export market
Group Explorer ‒ Look for growth opportunities in international markets together with other companies
Talent funding ‒ New operating models to accelerate international growth
Research, development and piloting ‒ Develop products, services, production methods and business models
Co-Innovation ‒ Cooperation between companies and research organisations
European Programs ‒ Take advantage of European funding opportunities
International financial institutions ‒ Opportunities for sustainable business
Into funding ‒ Develop your company’s innovation expertise for growth
Energy aid ‒ For investment and study projects
Production incentive for the audiovisual industry ‒ Cash rebate for production costs incurred in Finland

Innovation voucher (for other forms of enterprise than sole traders)

For small businesses that have been operating for less than 5 years and have a new product or service idea for the international market. The purpose of the innovation voucher is to help you purchase expert services related to your company’s innovation activities from an external service provider who can assist you in developing your company’s products, services or processes, and in acquiring the necessary information and expertise.

Using the innovation voucher, you can buy services from companies, universities, universities of applied sciences or research organisations. The voucher covers €4,500 (0% VAT) and the company’s own contribution is €1,500. You can only receive an innovation voucher once.