Set up your own business for free

When you want to start a business as a Private Trader, you have a few different options for getting set up. You can register with the Trade Register through the joint YTJ service run by the PRH and the Finnish Tax Administration (€75), or you can set up as a Private Trader without registering with the Trade Register. The latter is easy to do online, for example through UKKO Entrepreneur. Many first-time entrepreneurs set up through UKKO Entrepreneur directly, so that registration and bookkeeping are handled in the same place. Setting up as a Private Trader through UKKO Entrepreneur is completely free. To get started, you’ll need a Finnish personal identity code and online banking credentials. Our registration form asks for the necessary details, including your personal information and contact and address details. You’ll also need to provide your company’s place of business and industry. Through our service, you’ll receive your Business ID as soon as your registration has been approved in the YTJ system.

You can register with the Trade Register later if you need a registered name for your business or if your operations require it. This is done through the YTJ service, and the processing fee is €75 in 2026. A Private Trader registered with the Trade Register receives exclusive rights to that business name.

The registration form is submitted primarily online through the YTJ service. If you’re unable to use the online service, you can use the Y3 paper form, which is submitted to the joint Business Information System run by the PRH and the Finnish Tax Administration.

If you have any questions about setting up as a Private Trader, you can find guidance on the websites of the PRH, the Finnish Tax Administration, and YTJ. UKKO.fi’s customer service team is also happy to help you get started with your business.

Through UKKO Entrepreneur, you can set up as a Private Trader for free. After setting up, you can also register with the Trade Register. Registering a Private Trader with the Trade Register costs €70 (the 2024 registration fee). You can submit the application online through the Finnish Patent and Registration Office website, in which case you pay the €70 fee after signing the application — or you can submit a paper application, in which case a receipt for the €70 payment must be included with the application.

In addition to registration costs, anyone setting up as a Private Trader should think about how they plan to handle their bookkeeping. Managing it yourself is the most affordable option, but it takes up a significant amount of time. Hiring an expert or using a bookkeeping service can be a good idea when you’re just starting out and things are busy. Additional costs may also arise from purchasing equipment and taking out any necessary insurance.

Alternatively, you can let UKKO Entrepreneur handle the paperwork for you. The fixed service fee also covers bookkeeping and invoicing, with our experts just a phone call away.

Read our comparison of registration costs across different business structures: What does setting up a business cost?

A Business ID is a unique identifier that distinguishes one business from another. Since a Private Trader is also a business, it has its own Business ID.

The Business ID is issued by the Finnish Patent and Registration Office (PRH) or the Finnish Tax Administration when a new business is entered into the joint Business Information System (YTJ) run by the PRH and the Finnish Tax Administration.

In most cases, you receive your Business ID straight away when the registration is submitted online. With a paper application, the process typically takes a few extra working days depending on postal and processing times. If you also register with the Trade Register at the same time, it may take a few days to receive your Business ID, and processing times can sometimes mean the wait is longer.

A Business ID works in a similar way to a personal identity code — it’s how a business is identified in tax matters and other official contexts.

Every Private Trader can choose their own business name. The one limitation is that the name must not already be taken in the Trade Register. If finding a suitable name feels tricky, it’s worth browsing the Trade Register’s list of company names to get a sense of the kinds of names that are typically used — and to check whether a name you already have in mind is already taken. The Trade Register will ultimately verify that no business with the same name already exists.

If coming up with a name feels difficult, a popular approach is to combine your own name with the business structure abbreviation in the format “Tmi Firstname Lastname”. You can also find inspiration in our article on naming your business.

It’s worth taking care when choosing your business name. A memorable name makes marketing easier and helps clients and partners remember you. For this reason, your business name should always be used exactly as it appears in the Trade Register, which also recommends following standard Finnish spelling and grammar rules.

Further information on choosing a name and the related guidelines is available on the Finnish Patent and Registration Office website at www.prh.fi.

Once a name has been registered and approved, the Private Trader has exclusive rights to that name throughout Finland.

Registering your business name with the Trade Register is the most effective way to protect it, since no two businesses with the same name can operate simultaneously in Finland. The Trade Register carefully reviews each business name before approving it for registration. This process takes some time, which is why new entrepreneurs should avoid advertising their business name or ordering branded materials until the name has been officially confirmed — occasionally a name doesn’t get approved, leaving the entrepreneur back at the drawing board.

Private Traders who are not otherwise required to register with the Trade Register can still choose to do so, if only to secure a protected business name.

Once a business name is entered in the Trade Register, it also provides protection in situations such as someone attempting to register a .fi domain name under the same name.

Anyone planning to operate as a self-employed Private Trader and generate income from that activity must register their business in some form. Setting up as a Private Trader is the simplest of all business structures and does not, for example, require any founding documents.

Registering with the Trade Register is not always mandatory, but it is required for all Private Traders who carry out licensed business activities or operate from a separate business premises. Using assistants other than a spouse or family member is also considered grounds for a registration obligation.

Setting up as a Private Trader makes sense when you plan to work alone and your business is based on your own skills or work input. It’s often also a good fit when you’re starting out on a smaller scale and launching the business doesn’t require significant investment or capital. Setting up as a Private Trader is the right choice for you if:

• your business activity is small-scale and you don’t need significant investment or capital to get started
• you’re selling your skills on your own and don’t have immediate plans to expand
• you want a business structure that’s light and straightforward to get started with

If you already know from the outset that your business will grow quickly, involves greater financial risks, requires a significant amount of outside labour, or you want to keep the company’s assets and liabilities clearly separate from your personal finances — a Limited Company or another business structure may be the smarter choice.

• You get protection for your business name, meaning no one else can use the same name for their business activity.
• Registering with the Trade Register also gives your business a credible image. In some cases, the absence of a Trade Register entry can even raise questions.

Registering with the Trade Register costs €75 online and by paper form. You can also register with an existing Private Trader Business ID by submitting a change notification through the YTJ service.