Help is available for internationalisation
Finnvera encourages enterprises to grow on the international market by providing financing to meet the additional challenges. Finnvera can finance projects having the prerequisites for profitable business.
Because the Finnish domestic market is small, SMEs discover soon – maybe even at the outset of their business – that the limits for growth in Finland have been reached. A growth-oriented SME is forced to seek new markets and business opportunities elsewhere.
Finnvera can participate in financing for enterprises at different stages of internationalisation. Financing services can be used to supplement an exporter’s need for financing and collateral and to insure export receivables. Finnvera’s subsidiary Veraventure Ltd may also make capital investments in starting technology companies that need more equity for commercialisation of their innovations.
“Now is a good time to seek new markets, as growth potential can be found, for instance, in the environmental business. Before entering into a new market area, company management should be familiar with the area’s special features, such as business logic and potential customers. At the same time, it must be considered what sort of financial resources the company will need for expansion of its business,” says Senior Vice President Annamarja Paloheimo, responsible for Finnvera’s financing for growth and internationalisation.
Grants for market analyses
Each company entering a new market has different needs and objectives. Misinvestments can be avoided through careful strategic planning and background and market analyses. They help to ensure the quality of plans and the company’s ability to respond to changing situations and circumstances.
Grants are also available for conducting market and establishment analyses. These grants are provided by Tekes (the Finnish Funding Agency for Technology and Innovation) and the Centres for Economic Development, Transport and the Environment. Through Finnvera, it is possible to apply for support granted by the Ministry for Foreign Affairs for exploring business opportunities in Finland’s neighbouring areas in Russia. In addition, Finnpartnership can grant a Finnish company business partnership support for long-term activities aimed at commercial cooperation in developing countries.
Annamarja Paloheimo, Senior Vice President, tel. +358 20 460 7267