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For an entrepreneur, YEL insurance  (The Self-Employed Persons' Pensions Act, Yrittäjän eläkelaki ) is often seen as a "necessary evil" – an expensive monthly cost that feels unnecessary when the company's cash flow is tight. Sometimes, this view is justified. On the other hand, YEL is the cornerstone of an entrepreneur's social security , affecting not only your pension but also sickness allowances and parental leave. Why is YEL mandatory? And how exactly is the YEL confirme

Starting a new business is exciting, but the first major decision is often choosing the right business form . Should you opt for the light and flexible Private Entrepreneur / Sole trader / Self-Employed Individual (Tmi)  or the secure and scalable Limited Liability Company (Oy/Ltd) ? This choice directly impacts your taxation, liability, administration , and future growth opportunities. We've compiled a clear comparison to help you make the best choice for your specific situa

Accounting/Bookkeeping is the foundation of all business operations and is almost always a statutory obligation. The obligation to keep accounts, taxation, and even the withdrawal of funds depend directly on the business form you choose. In this article, we dive into the core aspects of accounting for new entrepreneurs and compare traditional and electronic financial management. Table of Contents Obligation to Keep Accounts and Key Legislation Impact of Business Form on Accou