Financial advice

Development grants can be awarded for SME development measures and investments when a company is starting up, wants to make a significant investment in modernisation, or is seeking to grow. The enterprise development grant is a discretionary grant. The grant may be awarded for an identified, clearly defined development project that is different from the normal activities of the enterprise – not for normal or operative activities or for development that is considered to be marginal.

You can find out more about development grants on the ELY Centre (Centre for Economic Development, Transport and the Environment) website and on the rakennerahastot.fi website, where you can find more detailed application timetables, information and materials.

Applications for development grants can be made through the EURA 2021 application system. However, the project should be discussed in advance with the business expert for the Northern Finland region of the ELY Centre before submitting the project application.

Business Finland provides funding for research, product development and a wide range of business development needs, especially for small and medium-sized enterprises. Large companies and research organisations can get funding for joint projects with SMEs. Business Finland’s financial and advisory services are targeted at companies that want to grow and internationalise.

Below you will find links to the most common Business Finland funding schemes. All Business Finland’s financial services are presented on their website at businessfinland.fi.

Finnvera improves and diversifies financing opportunities for businesses through guarantees, loans and export finance solutions. Finnvera provides financing for different stages of business activities, such as start-up, growth, investments, ownership arrangements, export, and internationalisation. Often these are complementary solutions for companies and entrepreneurs at turning points, in cooperation with banks, private financiers and the Team Finland network. All Finnvera’s services are presented in more detail at finnvera.fi.

Leader is about funding, advice and activities. Leader funding can support, for example, investments and development of businesses and communities, improvement of services, and international activities. Funding is also available for youth and senior citizens’ own projects and for operators in the fisheries sector. The aim is to increase the potential, hold and attractiveness of rural areas.

Oulun Seudun Leader offers business funding for the development of rural business activities and investments. Business support is available to businesses that are planning, starting up or running their operations. Business support is available for small rural enterprises (less than 5 employees) that are planning their business, starting up or expanding.

You can find out more about Oulun Seudun Leader’s services and forms of support at oulunseudunleader.fi.

The Finnish Business Angels Network (FiBAN) is a nationwide, non-profit association that promotes investment by individuals in unlisted growth companies. The association aims to grow and develop the private investment profession. FiBAN is one of the largest and most active business angel networks in the world, with over 670 accredited investor members.

Start-ups can submit a business profile to FiBAN for angel investors to view at fiban.org. BusinessOulu experts will help you fine-tune your business and profile.

The Finnish Venture Capital Association is the collective voice and influencer body of the venture capital industry in Finland. The association guides companies in applying for venture capital, and more information is available at paaomasijoittajat.fi.

Companies can also use the investor search engine on the association’s website to find a suitable venture capital investor. BusinessOulu’s experts can help with contacting investors, planning funding rounds, and sparring with business.