Skip to Content's new guide is a financial information package for entrepreneurs

Publication date 7.11.2022 8.35
Press release has published a new guide on a company’s financial difficulties and how to prevent them. The guide provides entrepreneurs with concrete instructions on assessing the financial situation of a company, coping with payment difficulties or the controlled termination of business operations.

Even a successful company may face setbacks which result in the deterioration of its financial situation. When the entrepreneur responds quickly, the company has more solutions available. "You should ask for help as soon as you sense the first suspicions or signs of danger," says Jari Leskinen, Development Manager of the Financial counselling for entrepreneurs service. “However, it is never too late.”

A guide for entrepreneurs who want to succeed better

In order for the company to remain profitable and produce results, the company’s financial situation must be monitored regularly. This makes it possible for the entrepreneur to prepare for unexpected situations and to react quickly to temporary payment difficulties. 

The guide provides the entrepreneur with instructions for ensuring profitability and information on where to ask for help.

A guide for entrepreneurs who want to improve their company's finances

If the financial figures start to look bad and you have difficulties paying invoices, it is time to start improving the financial situation and prepare a plan for paying off debts. 

The guide provides the entrepreneur with instructions on how to start rectifying the situation and where to ask for help.

Guide for entrepreneurs who need instructions on how to close down business

When you are considering the idea of closing down your business, you should not make hasty decisions, such as filing a bankruptcy petition immediately. 

The guide provides entrepreneurs with clear instructions for the controlled closing down of business operations and tips for planning the future.

Tool for people working with entrepreneurs

The guide also serves as a tool for business and debt advisors and for operators helping entrepreneurs in different life situations:

  • It gives an overview of matters the entrepreneur needs to take care of.

  • It helps direct clients to the right national and regional services.

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The guide was produced in cooperation with the Entrepreneur's Financial Assistance network. The guide was created in cooperation with the Church Council of the Evangelical Lutheran Church, the Bankruptcy Ombudsman, Mieli Tukitalo ry / Crisis Centre for Entrepreneurs, the Ministry of Justice, SEKES – Association of Finnish Development Companies, the Enterprise Agencies, Suomen Yrittäjät (Federation of Finnish Enterprises), Suomen yrityskummit, the Guarantee Foundation (Takuusäätiö), the Association of Finnish Accounting Firms, Financial and debt counselling, the Finnish Institute of Occupational Health, National Enforcement Authority Finland, Finnish Tax Administration and experts at Yrittäjän talousapu (Financial counselling for entrepreneurs).

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