Counselling makes it easier to start a business

Starting entrepreneurs believe it is very easy to start a business in Estonia, but find that business consultancy would make it even easier, as was revealed by the survey conducted as part of the seminar “Morning Coffee for Start-up Companies” organised by SEB Pank.

Almost 96 per cent of respondents believe that it is easy to start a business in Estonia. According to entrepreneurs, the process of registering a company online is convenient and quick, allowing almost anyone to run a business.

“In Estonia, starting a company has been made very easy for entrepreneurs. Formalities, which in another country may take days, are completed promptly, quickly, and pleasantly, thanks to the e-state. When registering a company electronically, it can be done in a few hours,” said Martti Talgre, Head of Retail Banking and Technology at SEB.

At the same time, the entrepreneurs who attended the seminar found that the addition of various services and solutions would make it even easier to start a business. Seventy-six per cent of respondents thought the most important tool is business consultancy, as it gives practical answers to questions related to starting a business. Sixty-two per cent of respondents thought special accounting solutions would be useful. Website solutions (58%) and sales management solutions (44%) were also deemed important.

Respondents who have already started a business consider the main obstacles to be recruiting qualified workers for their product or service as well as the availability of financial resources. The survey also revealed that almost 83 per cent of respondents financed their company out of personal resources, while only 11 per cent took a loan from a bank or received a grant from the state or EU structural funds.

“Even though starting a company is quick and easy, launching a business can be a complex and time-consuming process. So that entrepreneurs could concentrate on what is important – getting the company started – SEB has created some beneficial solutions for a starting entrepreneur,” Talgre said.

He added that SEB wishes to be a partner for entrepreneurs in achieving their future success and to provide the tools for helping the companies develop.

The survey was conducted as part of the seminar “Morning Coffee for Start-up Companies”.


For more information:

Evelin Allas
Communications Manager
Marketing and Communications Division
SEB
Phone +372 665 5649
Mobile +372 511 1718
Address Tornimäe 2, 15010 Tallinn
E-mail evelin.allas@seb.ee