Starting a business doesn’t always require significant savings or a loan. Depending on the business idea, it might be possible to start entrepreneurship also with a relatively small sum.

For securing your personal livelihood, you can apply for a start-up grant, and for financing your business you can apply for example a bank loan. It all starts with a business plan, which also describes how you intend to execute your business idea. Business plan also includes profitability calculations for the company. It’s a recommendation to evaluate the company’s financing with a business advisor using funding calculation. With funding calculation, you estimate how much funding you need to start the intended business and cover the costs as well as your own salary during the first months. With profitability calculation, you estimate the company’s expenses and how much you need to sell in total to make the business profitable. Sales calculation helps you to estimate how much you need to sell services or products to achieve required profitability. You can get guidance with these calculations from free of charge business advisory services, such as the Enterprise Agencies in Finland.

Providing very occasional and small-scale pet care services, you can invoice using mobile payment services like MobilePay or similar platforms. In this case, it’s advisable to include a message with the payment request and keep a record of the provided services so that you can report them to the tax authorities. Remember that you’re also obligated to pay taxes on these earnings; for further details, consult the tax administration.

If you provide pet care services more regularly, it might be more convenient to use an invoicing service. There are various invoicing services available, and they differ for example based on price, it’s worthwhile to compare different options. It’s important to note that according to the Unemployment Security Act working through an invoicing service is considered entrepreneurship. Therefore, if you’re unemployed and registered as a jobseeker, it’s advisable to talk about this in advance with your employment expert.

It’s in the entrepreneur’s interest to keep the payment term as short as possible. When invoicing consumer customers, the minimum payment term is 14 days. When invoicing companies according to the law, the payment term can range from one day to a maximum of 30 days, unless there’s a mutual extension agreement.

Hiring an accountant is not mandatory, but it’s recommended because sole traders are also required to bookkeeping. Additionally, an accountant can provide valuable advice on your company’s finances and taxation. Most people find a suitable accountant through networks and recommendations, and you can also ask the Enterprise Agencies in Finland for tips. It’s worth taking the time when choosing an accountant to find one that meets your needs. Nowadays, there are also many digital accounting services available, and some invoicing services also handle accounting. The price often depends on factors such as the accountant’s workload and the scope of services provided. Typically, for sole traders, the monthly cost for accounting services ranges from €50 to €100 on average.

Contract entrepreneurship means working as an entrepreneur based on agreed contract, which specifies the terms and conditions of work. It’s common in the beauty care industry, but the term can also be used in other sectors when entrepreneurship is based on a cooperation agreement. It’s also possible to receive a start-up grant if you become a contract entrepreneur and if the other requirements for start-up grant are met.

Light entrepreneurship is more precisely a service through which you can invoice a client for work you’ve done outside of an employment relationship. The service provider often

takes a percentage-based fee, which varies slightly among service providers. Additionally, there are differences among service providers regarding whether they establish a business ID for you. From the perspective of Unemployment Security Act, however, you’re considered an entrepreneur. Furthermore, some service providers may offer additional services, so it’s worth comparing them.

Working as a light entrepreneur can be effortless and profitable if the invoicing is one-time, irregular, or involves small amounts. If the invoicing is regular and the amounts are large, starting your own company may be more cost-effective, in which case you will manage accounting and invoicing yourself.