What is a Sole Trader?

Are you planning to become an entrepreneur?

A sole trader is still one of the most popular company forms in Finland. It requires less bureaucracy than the other types of company forms and can be set up quickly. A sole trader is a self-employed person who owns and runs their own business as an individual. This means he/she is fully liable for all business activities, such as contracts and debts. Therefore, if you take out a loan for your company, you are personally responsible for repaying the loan. If a business requires a large amount of initial capital, the sole trader should consider setting up a limited liability company.

However, the sole trader is the wisest choice of company form if you are only planning to employ yourself.

It’s a good option if:

• Your business is based on wholly or mainly on your own work: you’re selling your own expertise or selling hourly work or projects
  
  
• Your business is a small scale
  
  
• The costs of starting a business are low
  
  
• You want to work and grow a business without employees
  
  
• You don’t need investors or other shareholders
  
  
• You want to test your business idea

Remember that if you’re applying for a startup -grant from TE-office, you shouldn’t register your company before you have applied for the grant and received the decision.

UKKO Pro is an easier way to set up your business!

We offer an easier and faster alternative for you. You can set up your own business through us for free. We will enter you to the Business Information System (YTJ). We will also enter you to VAT-register and Tax Prepayment-register.

Setting up your own business ID will happen in a few days but be aware that sometimes it might take up to a few weeks before The Business Information system (YTJ) gives you the business ID.

You are ready to start your business and start invoicing as soon as you have received the registration decisions.

Most importantly if you use UKKO Pro, we take care of all the paperwork (e.g. Accounting and VAT- and Tax-return) for you.

If you have some questions about this, please contact our customer service at asiakaspalvelu@ukkopro.fi or call 09 427 20861. We are always ready to help you!