Starting one’s own business has in recent years started to become more like the norm than the exception, with new companies being born at a rate like never before. Because of this, and the increasingly global world we live in, starting a business in another country is not nearly as hard and daunting as it once was.

The advantages range from cultural to financial. Learning a new language, growing one’s business network and taking advantage of one’s home country’s possible advantages in a market that is not saturated with the same ideas are just a few of the reasons to change the scenery. And when it comes to doing business abroad, there are few better choices than Finland.

Practicality

One of the most compelling reasons for choosing Finland is the ease of starting a business. The only form of company where one needs any starting capital is the Finnish equivalent of a limited company (Osakeyhtiö, or Oy for short), and even then the required amount is only € 2,500 for a private venture.

In contrast, starting a limited company requires a starting capital of €25,000 in Germany, € 10,000 in Italy and over €5,000 (50,000 SEK) in Sweden, to take a few European examples. The process is also designed in a way that is quick as well as foolproof. The registration process is constantly improving and can already be done online for the most part.

Finally, doing business with Finns should be a breeze. Honesty and reliability are held in high regard so new players are treated with respect. While some might argue that bureaucracy is an obstacle, the opposite argument can also be made. Important matters are handled properly which makes starting a business as a foreigner that much easier. Finns also usually know English extremely well, making initial communications effortless.

Strong startup community

The fall of Nokia was an enormous hit to the business scene in Finland at the time, in its peak years making up a staggering 4% of Finland’s GDP. In hindsight, however, one major positive can be seen. Thousands of experienced and talented ex-Nokia employees brought Finland to the forefront of the global startup scene.

One of the best representations of the growth of Finland’s startup community is the annual Slush event that has grown from 1500 attendees in 2011 to Europe’s leading startup event with 15,000 visitors in 2015. In other words, there has never been a better time to be a part of the Finnish business environment.

Opportunities for growth

The Finnish business scene is just at the point where new ideas and ways of doing things are welcomed with open arms, yet the markets are not yet cut-throat competitive. Helsinki is pursuing the title of Northern Europe’s hottest startup hub relentlessly so growing a business network happens almost by itself by attending events and being social.

The Helsinki area is teeming with universities and polytechnics amounting to a large number of graduates every year, ready to prove their worth. Coupled with a Finnish tendency for attention to detail and tireless work ethic, Finland represents an optimal place to look for a competent and enthusiastic workforce.