Help for solving your company’s situation and your coping

When you react quickly to a downturn in the financial situation, your company has more options for improvement. Still, it is never too late.

Call the Yrittäjän talousapu counselling service if

• you need help assessing the company’s financial situation
• you are unsure of your company’s situation and do not know what you should do
• your company has accumulated unpaid invoices
• you are no longer able to pay loans and their interest
• you are not sure what to do when work or the sales in your company have decreased
• you feel that you can no longer cope with financial difficulties alone
• you want advice on how to prevent or avoid financial difficulties
• you want advice on how to suspend your business
• you need information about debt arrangement for a private person, corporate restructuring or bankruptcy proceedings.

You can also get help for interpreting the figures and making calculations from your accountant, your regional business development companyOpens in a new window. or your local Finnish Enterprise AgencyOpens in a new window.. You can also find a business mentorOpens in a new window. to help you solve business challenges.

The result of financial difficulties may be that you need to rethink the organisation of work and tasks. 

Companies covered by the Act on Co-operation within Undertakings must negotiate any changes that affect employees in advance. If your company’s situation seems like you might have to consider changing employee hours to part-time work or to lay off or dismiss employees, contact the employment services. Your regional employment authority can advise you on what to do and what kind of help is available.

Employment services provide advice in situations related to personnel changes, even if your company is not covered by the Act on Co-operation within Undertakings.

Remember that all changes in an employment relationship involve obligations that the employer must comply with. More information on obligations related to changes in employment relationships

Remember to take care of your own finances even while the company is undergoing financial difficulties.

• Keep in mind that you need money to live and pay bills every month, even if your company only produced profit for a part of the year. These expenses include housing, food, electricity and medicine.
• If the company’s income is not sufficient for personal expenses, do not take out loans without consideration. Instead, find out whether you could receive housing allowance and social assistance and seek help for budgeting income and expenditure and making debt payment plans. 
• If you have problems paying loans and debts, consult the bank or other creditor immediately.

If you are concerned about your household finances, you can find support from

• Financial and debt counselling
• The Debt Line telephone service
• Ask about money chat.

The entrepreneur’s own wellbeing and coping directly affect the company’s success, customers and potential employees.

Remember these steps:

• In a stressful situation, do not compare yourself to others, as everyone has different tolerance levels for stress.
• Don’t hesitate to talk to professionals about your worries.
• If you have self-destructive thoughts, call the emergency number or the emergency helpline.