Sole entrepreneurship as a Private Trader is the most popular and well-known form of entrepreneurship in Finland. Book a free demo of the Talenom One service today and learn about how you could be doing business as a Private Trader.
Setting up a Business ID as a private trader is ideal for you if you work alone and have no plans to hire other staff.
A major advantage of being a private trader is the freedom of choice and the ability to do exactly what you want without the opinions of others – all this plus owning a Business ID that opens the world for you as an entrepreneur to do work that might not be possible as a light entrepreneur.
Running a business as a private trader is a less administrative form of entrepreneurship, which does not necessarily require initial capital. A self-employed person setting up a Business ID as a private trader works as a small entrepreneur, either full-time or part-time, using his or her skills. The be able to become a self-employed person through FREE.fi you must be a resident in the European Economic Area and be at least 18 years old. However, minors can also be self-employed as private traders with the consent of their guardians.
Registering
Private traders in Finland
Work industry independent
With Talenom One, you can focus on the essentials and forget about bureaucracy.
Talenom One is a service to streamline your Private Trader accounting. You just send the accounting materials to Talenom and they take care of the rest. You can easily deliver the materials using the Talenom mobile application. You photograph receipts, send invoices and receive payments using the same application.
To guarantee quality customer service, Talenom has a customer service center to support you, together with the accounting team. The service costs only €49/month (starting) and you can book a free demo here and get answers to all your questions about running a business name.
› Get to know the price and benefits in more detail
The most popular form of business in Finland
Starting from 49€/month
Talenom One offers an affordable and comprehensive solution for Private Traders’ accounting. For one monthly price (starting at €49/month), you get not only easy-to-use software but also an expert accounting team that takes care of your financial management. Bookkeeping, tracking expenses, invoicing, preparing reports and much more conveniently in one place.
Do you want to get to know the service with an expert? Book an appointment for a free demo, where a Talenom expert will introduce you to the Talenom One service and help you move forward!
A private trader is subject to the same accounting obligations as other Business ID entrepreneurs. Since the assets of the private traders are, in practice, common with those of the business, the accounts make it possible to separate the business’s costs from the entrepreneur’s personal expenditure.
Single-entry bookkeeping is usually sufficient for a private trader, but in some cases the entrepreneur may be required to keep double-entry books. The bookkeeping can be a considerable burden, which is why it is common for the self-employed entrepreneur to outsource it. The most convenient way to do this is through Talenom One.
As a private trader, the total business income is calculated as the self-employed person’s income for tax purposes by first deducting business expenses. As with other types of business, a private trader is liable to VAT if he or she is engaged in the sale of goods and/or services and has a turnover of at least €15 000 for the financial year. If in doubt, we always recommend that you apply for VAT liability, especially if your clientele consists of businesses that can deduct a proportion of the VAT on your invoice
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Becoming a private trader is worthwhile if you have a clear vision for your business, existing customers and have, for example, tested the viability of your business idea through light entrepreneurship. Becoming a private trader is less risky than, for example, limited company ownership, but it is worth bearing in mind that the private trader is always personally liable for the debts and obligations of the business.
Becoming a private trader is suitable for a person who wants to be self-employed as an entrepreneur and set up his/her own Business ID for running the business. Private trader is well suited to selling one’s own work or goods and for people whose business idea does not require large loans or machinery/stock of goods.
Sole trader, sole proprietor, small-business owner, microentrepreneur, self-employed entrepreneur is the same as a private trader. A private trader is an entrepreneur who has his or her own Business ID and often employs himself or herself solely using his or her own skills. It is one of the most popular entrepreneurship forms in Finland.
Registration is free and does not bind you to anything. There are no monthly fees or hidden costs in our service and you can stop using the service at any time. We charge a 4% service fee and a 2.5% FREE coverage fee only when the customer pays your invoice and you are about to receive money.
