Company’s financial difficulties and their prevention

Remember that you are responsible for the company's debts with your own property. Ask for advice from Financial counselling for entrepreneurs if you have difficulty keeping your own money and business money separate.

Hire an accountant if you have not already done so. An accountant helps you manage your company's finances so that you can better focus on coping with financial difficulties.

More information on organising accounting

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. 

If the company's income is not sufficient for personal expenses, do not take out loans without consideration. Instead, seek help in budgeting income and expenditure and payment plans for debts. 

If you have problems paying loans and debts, consult the bank or other creditor immediately.

You can get free advice and discussion help for everyday financial concerns from financial and debt counselling.

You can get free advice also from

• the Guarantee Foundation's Debt Line (in Finnish)Opens in a new window.
• the Guarantee Foundation's Ask about money chat (in Finnish)Opens in a new window..

You can also request financial assistance and advice from the parish of the local Evangelical Lutheran Church (in Finnish)Opens in a new window. even if you are not a member of the church.

Find out if you are eligible for

• general housing allowance 
• social assistance.

In a pinch, you can also ask for small financial assistance from parishes (in Finnish)Opens in a new window. even if you are not a member of the church.

If you need a loan for your own unexpected expenses but you can not get one from a bank because of small income or a payment default entry, you can apply for a small loan from the Guarantee Foundation (in Finnish)Opens in a new window.. Wellbeing services counties also grant social lending.